Raise with confidence
Built by people who sit where your investors sit. Everything they will look at, ready before they ask: the model, the metrics, the data room and every term priced in dollars.
What investors will look at
How your revenue is built
Acquisition, conversion and retention drivers, so the forecast is an argument rather than a growth percentage.
Your unit economics
Customer acquisition cost by channel, payback and lifetime value, with the definitions written down.
Your cohorts
Retention curves by monthly cohort, with net and gross retention kept apart.
Your runway
The month the cash ends, and what moves it.
Whether the numbers tie
The deck, the model and the data room telling the same story.
The terms
What each term pays you at a realistic exit, beyond the headline valuation.
We get every one of these ready before the first meeting.
We've reviewed these from the investor's chair. We know what gets questioned.
Who this is for
A lot of what goes wrong in a round is preparation. The model cannot answer the partner's follow-up question, the cohort data has to be rebuilt the week diligence opens, and the term sheet gets signed before anyone has modelled what the liquidation preference does at a realistic exit. We build the model, get the numbers ready for diligence, price the terms on the table, and run the monthly reporting after the round closes. The fee and the scope are agreed before work begins.
Raising now
The runway is counting down, and the model you have was built for the last round or by somebody who has left. You need one that holds when a partner starts changing assumptions in the meeting.
Term sheet on the table
It feels like the finish line. Before you sign, know what the preference stack, the pool increase and the conversion terms pay you at a realistic exit, not just what the headline valuation says.
Diligence starting
The investor is about to open the data room. If the deck says one revenue number and the model says another, that is the conversation the round turns into, and the cohort data has never been pulled together in one place.
Where raises go wrong
Investors know the forecast is wrong. They are testing whether you understand the business well enough to defend it.
The model
Revenue built as a percentage on last year hides how customers are acquired, what that costs, how many stay and what they are worth. A driver-based model answers all four, and it moves when a partner changes an assumption.
The data
Retention quoted as one number. CAC defined differently on every slide. Net and gross retention mixed up. Investors find it in diligence, when weeks cost the most.
What the term sheet work actually answers
The headline valuation is what everyone celebrates. The terms decide what you take home. We put every term in dollars at realistic exit values, before you sign.
- We show the pre-money and post-money positions at the terms on the table, with the option pool increase modelled both before and after, so it is clear whose ownership it comes out of.
- We model what the liquidation preference stack pays out across a range of exit values, with participation, caps and stacking on every existing preference.
- We work out what every outstanding SAFE and convertible note converts into under each scenario, including the effect of the discounts and the caps.
- We map the dilution path across the future rounds you expect to raise, through to an exit.
- We show what you and your employees actually receive at each exit value.
What changes when the numbers are built properly
From a spreadsheet you hope nobody pokes to a model you can defend.
Built on acquisition, retention, pricing and hiring drivers, so a partner can change one assumption and you can explain exactly what moved.
From numbers that don't match to one source of truth.
The deck, the model and the data room tie out before anyone on the other side checks.
From a scramble in diligence to answers ready in advance.
A question file with the questions investors will ask, the prepared answer and the backing data for each.
From signing on the headline to signing on the dollars.
Every term priced at realistic exit values before you sign.
Fixed fees for raise preparation
Two one-off packages, priced by funding stage. Which one fits depends on who is writing the cheque. Every fee and scope is agreed in writing before work begins.
Raise Essentials
For a round from people who already know you: friends and family and angels, or existing investors in an extension or bridge. The numbers hang together and the story is clear, without a full diligence build.
From $3,500
Request this engagementInstitutional Raise
For a round with a new lead, such as a fund, a family office or a syndicate, who will run full diligence, stress-test the model and compare you with every other deal they are seeing.
From $8,500
Request this engagement| Engagement | Pre-seed and Seed | Series A | Series B and later |
|---|---|---|---|
| Raise Essentials, one-off | $3,500 | $5,950 | $8,500 |
| Institutional Raise, one-off | $8,500 | $14,999 | $22,500 |
At Series A and later, the model is built from your actual revenue and cohort data.
Fees last reviewed 23 October 2026.
Which one fits
Raise Essentials
Friends and family, angels and existing investors need to understand the business and see that the numbers hang together, but they do not typically run a full diligence process. Raise Essentials gives them a model built on the real drivers, a short investor summary and an honest read of the risks.
What gets delivered
Core financial model
Core financial model: a driver-based Excel model with revenue built from the real drivers of the business, every cost line, monthly for the first year and annual for five years, profit and loss, cash and runway, with base and downside cases.
Investor summary
Investor summary: a short deck of five to seven slides and a three to four page memo covering what the company does, how the money flows, current traction, the plan, how much you are raising and what it pays for.
Key risks
Key risks: the main business, operational and regulatory risks, and how each one is managed.
Review and revisions
Review and revisions: one walkthrough call and one round of revisions.
All materials are prepared for the company and go out under the company's name.
How the engagement runs
Scope and data request
The request covers the accounting records, the customer and revenue data at transaction level, the cap table with every instrument, the hiring plan and whatever model exists, because the cohort work cannot be built from summary figures. We move fast. The expected delivery date is confirmed in writing with your quote.
Historicals and cohorts
The historical period is built and tied to the accounting records, and the cohorts are cut from transaction level data, which is usually the stage that surfaces whether the metrics being used internally are defined consistently.
Driver build
Acquisition, retention, pricing, hiring and cost drivers are built with each assumption sourced and dated, and the runway falls out of the model.
Partner review and tie-out
A partner reviews before release, the balance check has to read zero in every period, and the metrics are tied back to the underlying data.
Delivery and handover
You receive the model and the files behind it with a walkthrough for whoever will own them.
- The work follows the agreed scope, and any change is agreed before it starts.
- A mutual non-disclosure agreement goes in place before any information moves.
Frequently Asked Questions
Request your fixed quote
Tell us where the company is and what you need. We reply with the scope, fee and delivery date.
What we need to start
To start we need access to the accounting system and the last two years of records where they exist. We also need the customer and revenue data at transaction level that the cohort work is built from, and the cap table with every instrument on it, including all SAFEs and convertible notes with their caps and discounts. Send the hiring plan and any existing model, budget or investor deck.
Step 1 of 2
Raise with confidence. Walk in with the answers already built.
Initial conversations are private and substantive. Where there is a fit, we scope it clearly and move quickly. Where there is not, we say so directly.
After the round
Once the round closes, the board expects a pack every month. Our Embedded Finance Office produces it in a format that stays consistent, with budget against actual, burn and runway tracked against plan, the KPI dashboard and the financial sections of the investor update. From $2,500 a month: $2,500 at pre-seed and seed, $4,500 at Series A, $7,500 at Series B and later. It sits on top of your existing bookkeeping.
Request a quote for the Embedded Finance OfficeWork TEOL does not take on
Audit, review and compilation engagements. Any opinion or assurance on financial statements. 409A valuations and certified appraisals. ESOP valuations. Fair value measurement under ASC 805 and ASC 820. Fairness opinions. Tax return preparation and tax opinions. Securities placement, investor solicitation, and any transaction-contingent or success fee.
TEOL Capital is not a broker-dealer, an investment adviser, a placement agent or a finder. Engagements are preparation and support work. TEOL does not place securities, solicit investors or make investor introductions, and takes no success, contingency or placement fee.
Standard terms
The fees published here are indicative, set against the scope described on each page, and a final quote is confirmed in writing before any engagement letter is issued. Nothing published here is an offer, and no engagement begins until a letter is signed by both sides. Work outside the stated scope is identified and quoted before it begins. Full payment or a 50% deposit on engagements under $10,000, and 50% at start with 50% at delivery above that. Expected turnaround is confirmed in writing with the quote. Fees are reviewed quarterly, and an engagement letter issued at a published fee holds that fee regardless of any later review. Work is prepared for the client named in the engagement letter and for that client's own use. Anyone else who receives it does so for information and cannot rely on it. Management accounts, consolidations and financial statements we prepare are built from the records management maintains and remain management's responsibility. We do not guarantee any particular outcome, including a sale, a financing, a valuation conclusion or a price. Our liability on any engagement is limited to the fees paid for that engagement.