Series A Fundraising Diagnostic
Series A investors don't fund stories. They fund de-risked assets.
I audit your startup for the structural risks and logic gaps that kill term sheets—before you enter diligence.
30 years. 12 ventures. 7 exits. $75M+ raised.
Initiate AuditThe Diligence Reality
Strong metrics do not guarantee funding. Investors are not looking for "traction"; they are looking for venture-scale returns. If your business logic does not map to their risk model, you are uninvestable.
"Not our thesis" is not feedback. It is a polite rejection of your asset quality. Most founders walk into meetings with "Product Thinking," unaware that the investor is applying "Asset Thinking."
If you enter a raise without identifying these structural gaps, you are burning leads you cannot get back.
The 7-Point Risk Protocol
Category Physics
How the market values your specific problem set (and why you might be priced wrong).
Right to Win
Structural defensibility and moats—not just "market leadership."
Operator-Market Fit
Evidence that you are the only team capable of executing this specific thesis.
Venture Thesis
The mathematical logic for 10x returns—moving beyond "good growth" to "venture scale."
Product-Model Integrity
Does your product actually drive the business model, or are they fighting each other?
Structural Lock-in
Why customers physically cannot leave (Retention Architecture vs. Satisfaction).
Compounding Velocity
Proving that your growth gets easier and cheaper over time (Leverage vs. Effort).
The Audit Protocol
A forensic assessment of your Series A readiness.
The Deliverables
- Pre-Audit Data Room & Narrative Stress-Test
- 120-Minute Live Diligence Simulation
- The Series A Readiness Report (25+ pages of scored analysis)
- 45-Minute Debrief & Strategy Call
- Remediation Roadmap to eliminate diligence "Red Flags"
One-time audit fee. Completed within two weeks.
Secure Your DiagnosticDiligence Case Files
Profile: B2B SaaS. $3.8M ARR. 140% NRR.
The Red Flag: Strong metrics, but linear growth costs. Investors saw a "Consultancy," not a "Platform."
The Remediation: Restructured the equity story to prioritize proprietary data capture (asset) over service revenue (effort).
Result: Round closed in 8 weeks.
Profile: Developer Tools. Strong retention.
The Red Flag: Being compared to "Legacy Tools" (low budget) rather than "Cloud Infrastructure" (high budget).
The Remediation: Shifted category physics to force a re-pricing based on infrastructure savings, not tool efficiency.
Result: Secured lead investor at 2x initial valuation cap.
About Mash Bonigala
I have built 12 ventures, achieved 7 exits, and helped founders raise over $75M in capital.
I created this diagnostic because I saw excellent founders failing Series A due to structural blindness. They understood their product, but they did not understand their investability.
The problem is rarely the business execution; it is the business logic. I analyze your startup through the lens of a General Partner to bridge the gap between operator reality and investor demand.
