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Our seed round died because of one bad metric we never checked until week 3
We lost a $750k seed deal back in March, and it was our own fault, not the market's. Our investor at Ridgeline Capital pulled the term sheet after their analyst ran our cohort data and saw that only 8% of signups from our LA launch came back in week two. We had been staring at total signups the entire time and never split them by source, so the paid traffic numbers were silently tanking the average. If you are raising right now, go break your retention out by channel before someone else does it for you, did anyone here get burned by a metric they never bothered to segment?
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