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Underscore VC’s Board and Investor Update Template
Underscore VC’s Board and Investor Update Template

Seed Template (Option 1)

Dear Friends of [Company],
Hope you are doing well! Here is a quick update from the last X weeks/month/quarter at the company.
Main Updates
[Note: See Underscore’s SaaS Metrics overview

Traction: We finished the last quarter at $XX ARR. Currently tracking at $XX and with the [Customer] season picking up again this quarter, we’re targeting higher growth for the rest of Q.
New Customers: Added some great enterprise software logos: [X Customer], [Y Customer], [Z Customer]: and crossed X paying customers.
Customer Love: Keeps on growing! New case studies and quotes on [URL to Page]. We are also on [Rating Site] now, trending strong at X/5.
Burn & Runway: Still projecting cash runway until [Month/Year] assuming base case revenue growth.
Team: We are now XX+ members strong.
Really excited to have [Name] join as [Title] to help us [Job Goals]!
Customer Advisory Board: We are forming a customer advisory board of thought leaders and influencers in [Industry] - already 10 members strong.

Q3 Priorities
Pipeline building remains the biggest GTM priority. We are actively working towards a free trial flow, and investing in ads and other salestech accelerants.
Partnerships as a GTM channel is also something we are keen to experiment with this year. The [Industry] ecosystem is ripe for this - any suggestions here would be welcome.
Our CS function is evolving to help us hit market leading NPS and NRR next year. We are now X member-strong and are building out motions for onboarding, success, and support to streamline customer ops.
[Customer Use Case] is top of mind on the product side. We are working on some exciting products which will make doing [Customer Use Case] truly simple. More on this next month!
Working towards doing a mini customer event in [Month] and a customer conference in [Month].

Best ways to help are
Hiring recommendations for the [Title w/ Link to Job Description] role. Very important to close this.
Community Suggestions: We are looking to work with communities such as X, Y, and Z, where [Customers] hang out. Warm intros to any such community you know of would be helpful.
Advice on growth: Always looking for tactical advice on growth and partnership recommendations.
Warm intros: Can never get enough of ‘em.
Anything especially at [List of Companies] would be great.
Customer Advisory Board: If you know any great [Customer Role] leaders who you think highly of, we would love to speak with them.
Use us: Many of our investors are using us for [Use Case]. It is a great way to know the product better and spread the word!

PS: ICYF "What does [Company] do exactly?" "We are a [Boilerplate Description]."
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