Jersey City — Black-led VC firm, Growth Warrior Capital is set to launch its AI-powered pitch deck generator next month, which is in place to help startup founders streamline the process behind creating fundraising decks.
Pitch decks often serve as the first-stop of a founder’s road to success when scaling their startup. These decks outline the problem that the startup aims to solve, while introducing its solution and including key information such as target demographics and customer traction.
Investors then use these decks (amongst many other factors) to determine if they are interested in putting capital into what the startup is building.
To the outside world, the act of making a pitch deck may seem as simple as creating a powerpoint. However, tons of design effort, research and industry knowledge have to go into these decks, especially as a founder is seeking capital to fund their solutions.
This adds yet another task to the life of busy startup founders who may not be able to afford to outsource the creation of a deck.
As someone who works with founders everyday on generating pitch decks and scaling their concepts, I can attest to the fact that it is indeed a labor of love. Founders, and more specifically, tech founders sometimes lack a marketing background which leads to difficulty in building a visually compelling deck.
That, on top of, not knowing what is necessary to include in a pitch deck for a specific investor, can have a founder running in circles to simply gain feedback on their deck, instead of securing funding.
In August, Growth Warrior Capital introduced its AI-powered pitch deck generator, Elevo, to the world. The solution was built by Growth Warrior Capital founder, Promise Phelon, who has a track record of raising $100 million in capital, transforming companies, and successfully navigating exits and acquisitions.
Phelon’s goal in creating the platform, according to an interview with Business Insider, was to take the most successful pitches from a VC’s perspective and from founder outcomes to build a generative product that enables founders to do things like get the valuations they want or to get funded quicker.
Founders who use Elevo, once it launches, will be able to input specific details such as the funding stage they are targeting, team information, product details and market size. From there the platform is said to generate a customized pitch deck that aligns with what VCs are seeking, such as founder-market fit or the team’s background.
The tool will cater to founders at various fundraising stages and provide targeted questions to educate them on VC expectations.
I imagine the platform will be extremely helpful to first-time founders and marginalized founders who may not have all the know-how to create a venture deck for their solutions.
This, in return, has the potential to eliminate the barriers founders face entering the world of startups.
Keeping it gee, by eliminating the difficulty behind creating a pitch deck, founders are able to focus on fundraising and building, which in actuality is what they tend to prefer to do. As Elevo grows, I see it having the potential to grow into the same levels of popularity as ChatGPT.
Miranda Perez (she/her/hers) is a Jersey City, NJ-based journalist who covers the tech industry. Follow her on Twitter and Instagram: @mimithegee.
Edited by NaTyshca Pickett