Dracologix Raise Check

How the score works

Each answer is worth 0 to 3 points. Questions that do not apply to your stage drop out.

Each question has a weight. Its section weight is the sum of its question weights. The score is the weighted share of available points, rounded to a whole number.

Flags come from answers worth 0 or 1 point. The flags with the most weighted points lost come first. Ties follow section order, then question order.

The bands

Not ready yet: 0 to 39
Several basics are missing. Fix these before talking to investors
Fix the basics first: 40 to 59
The business may be fine, the evidence is not there yet
Close, with gaps: 60 to 79
A good base. A few gaps would slow diligence
Ready for diligence: 80 to 100
Documents and numbers are in good shape. Keep them current

Four combination rules

  1. Less than 3 months of cash shows the short runway message.
  2. Revenue records with 0 or 1 point show a warning when you are already raising or plan to start within 6 months.
  3. Tax filings with 0 or 1 point show the local tax message only where the market pack has a tax banner.
  4. A cap table with 0 or 1 point shows a warning when you plan to raise USD 2M or more.

The 12 scored questions

Total weight: 100%.

Numbers you can defend

Section weight: 25%

  1. Does the revenue in your investor deck match your accounting records or bank statements?

    Question weight: 12.5%

  2. Is each key metric, such as GMV, margin or customers, written down with one definition used everywhere?

    Question weight: 12.5%

Runway and plan

Section weight: 20%

  1. How many months of cash do you have at your current burn?

    Question weight: 10%

  2. Do you have a monthly forecast for the next 24 months that ties to your cash balance?

    Question weight: 10%

Unit economics

Section weight: 15%

  1. Do you know your profit per customer or per order after all variable costs, including payment fees, refunds and support?

    Question weight: 7.5%

  2. Do you know what it costs to win a customer, and how long it takes to earn that back?

    Question weight: 7.5%

Cap table and legal

Section weight: 15%

  1. Where is your cap table kept, and is it up to date?

    Question weight: 7.5%

  2. Which of these are signed: shareholder agreement, founder IP assignment, employee share or option plan, commercial licences?

    Question weight: 7.5%

Compliance and controls

Section weight: 15%

  1. Are your VAT, sales tax or GST filings and your other tax filings, including electronic invoicing where it applies, up to date in every country where you operate?

    Question weight: 7.5%

  2. Are your accounts prepared under IFRS, US GAAP or your local standard, and reviewed or audited by an outside accountant?

    Question weight: 7.5%

Raise story and process

Section weight: 10%

  1. Can you show on one page what the money buys and which milestone it reaches?

    Question weight: 5%

  2. Do you have a data room with the standard folders ready for an investor?

    Question weight: 5%