Fundraising PRD

# Fundraising PRD
**Company / Product:** [Name]
**Stage:** [ ] Pre-seed  [ ] Seed  [ ] Pre-Series A  [ ] Series A
**Round size:** ₹ [Amount] / $[Amount]
**PM / Founder:** [Name]  **Date:** [Date]

---

> **How to use this document:**
> This is not a pitch deck. It is the written product narrative that goes *behind* the pitch deck — the document you send to investors before a meeting so they arrive informed, and the document they share with partners during partner review. It should be readable in 8–12 minutes. Be specific. Investors read hundreds of vague documents. Specificity signals rigour.

---

## 1. The problem

**One sentence:**
[The single clearest statement of the problem you solve]

**Who has this problem?**
[Describe the user — job title, company type, behaviour, geography. Be specific: "Product managers at Indian SaaS companies with 20–200 employees" is better than "product managers".]

**How big is the pain? Evidence:**
- [Data point 1 — ideally from your own customer interviews]
- [Data point 2 — industry research or published data]
- [Data point 3 — competitor or proxy market evidence]

**What do they do today?**
[The current workaround — this is your real competition. Be honest. "They use spreadsheets" is less compelling than "they spend 4 hours after each customer interview manually transferring notes into Notion, then re-read everything before writing the PRD".]

**Why is the current solution inadequate?**
[The specific failure mode of the workaround that your product addresses]

---

## 2. The solution

**One sentence:**
[What your product does — lead with outcome, not features]

**The core mechanism (how it works in plain language):**
[3–5 sentences. Describe the user workflow from problem to solution. No jargon. An investor who has never managed a product should understand this.]

**Demo or proof:**
[ ] Live product available at [URL]
[ ] Recorded demo at [URL]
[ ] Prototype / mockups available

**The "aha moment" — when does the user first feel the value?**
[Describe the specific moment in the product where value becomes undeniable. This tells investors you understand your activation metric.]

---

## 3. Market

**TAM (Total Addressable Market):**
[₹ / $ — the total spend on this category globally or in India]

**SAM (Serviceable Addressable Market):**
[₹ / $ — the portion you can realistically reach with your distribution model]

**SOM (Serviceable Obtainable Market — 3-year target):**
[₹ / $ — what you will capture in 3 years given your go-to-market]

**Market sizing approach:** [ ] Top-down (TAM × share)  [ ] Bottom-up (customers × ARPU)
*Investors trust bottom-up more. If you've done both, present bottom-up first.*

**Bottom-up calculation:**
```
[Target customers in India] × [% reachable via your channels] × [% who will pay] × [ARPU] = [SOM]
[Number] × [%] × [%] × ₹[ARPU] = ₹[SOM]
```

---

## 4. Why now

Three conditions that make this the right time to build this product:

1. **[Enabling condition 1]:** [e.g. LLM costs dropped 90% in 18 months — the AI cost that made this category uneconomical is now viable]
2. **[Enabling condition 2]:** [e.g. India SaaS market crossed $10B ARR — enough paying customers exist to support this category]
3. **[Enabling condition 3]:** [e.g. Post-COVID, remote work normalised async documentation — the behaviour PMRead requires is now standard]

*"Why now" is the question most decks skip. Investors who pass often do so because they don't believe this is the right time — not because they don't believe in the problem.*

---

## 5. Traction

| Metric | Value | Period |
|---|---|---|
| Signups | | |
| Active users (weekly) | | |
| Paying customers | | |
| MRR | ₹ | |
| MoM growth | % | |
| NPS / CSAT | | |
| Notable customers | [Names if permissible] | |

**Most compelling customer story (1 paragraph):**
[The customer who gets the most value from your product — what they were doing before, what they do now, and what the measurable difference is]

---

## 6. Business model

| Revenue stream | Description | ARPU (₹/month) | Status |
|---|---|---|---|
| [e.g. Pro subscription] | [Description] | ₹ | [ ] Live  [ ] Planned |
| [e.g. Team plan] | [Description] | ₹ | [ ] Live  [ ] Planned |

**Unit economics summary:**
- CAC: ₹[amount]
- LTV: ₹[amount]
- LTV:CAC: [ratio]
- Gross margin: [%]
- CAC payback: [months]

---

## 7. Why we win — defensibility

| Moat | Description | Strength today | Strength at scale |
|---|---|---|---|
| Data moat | [e.g. Proprietary training data from customer feedback] | Weak | Medium |
| Network effect | [e.g. Insights are richer when more team members upload] | None | Medium |
| Switching cost | [e.g. Historical insights and PRDs live in PMRead] | Medium | Strong |
| Brand / distribution | [e.g. #1 for "India PRD tool" on Google] | Weak | Medium |
| Regulatory | [e.g. India data localisation advantage] | N/A | N/A |

**Why a well-funded competitor can't immediately replicate what you've built:**
[Be honest. "We have a 6-month head start" is not a moat. "We have 18 months of insight data from 200 companies that trains our ranking model" is a moat.]

---

## 8. Team

| Name | Role | Relevant background |
|---|---|---|
| [Name] | CEO / PM | [e.g. 5 years as PM at Razorpay, shipped X feature used by Y users] |
| [Name] | CTO / Engineering | [e.g. Previously staff engineer at Swiggy, built real-time logistics at scale] |

**Why this team?**
[The specific experience that makes this team the right one to solve this problem — not generic "we're passionate", but domain expertise, network, or unfair access that others don't have]

---

## 9. The ask

**Round size:** ₹[Amount] / $[Amount]
**Instrument:** [ ] SAFE  [ ] Convertible note  [ ] Priced equity
**Valuation cap / pre-money:** ₹[Amount] / $[Amount]

**Use of funds (18-month runway):**

| Category | Amount (₹) | % of round | What it buys |
|---|---|---|---|
| Engineering | ₹ | % | [e.g. 2 senior engineers, 18 months] |
| Go-to-market | ₹ | % | [e.g. Content + SEO + 1 growth hire] |
| Infrastructure | ₹ | % | [e.g. AWS + LLM inference costs at 10× current scale] |
| Operations | ₹ | % | [e.g. Legal, compliance, office] |
| **Total** | **₹** | **100%** | |

**Milestones this round gets you to:**
- [ ] [Milestone 1 — e.g. ₹X MRR by [date]]
- [ ] [Milestone 2 — e.g. Series A-ready metrics: 3:1 LTV:CAC, < 5% monthly churn]
- [ ] [Milestone 3 — e.g. [N] enterprise design partners signed]

**What changes after this round that doesn't change without it:**
[The specific bets you can take with this capital that you cannot take at the current burn rate]