In 2006, I raised over $1 Million with the New York Angels.
At that time that was the largest amount ever raised through the New York Angels group, and as far as I know, it still is the record. In this post, I'll be exploring the process of raising funds through an institution like the New York Angels.
When I read various entrepreneurial forums, one of the big questions is "How do you get an idea for a business?" In my case, the idea was literally given to me by one of my clients. They needed a competitive intelligence tool for email. At the time, back in 2003, no such technology existed, and so I decided to develop it myself.
I called the company Email Data Source (now eDataSource.com), which began life in my garage as the first competitive intelligence tool for email marketers. By 2005, we were an 8 member team, profitable, with offices in Manhattan and with about 70 brands as clients....