Module 10 · The demo day pitch~15s dwell · weight 7
The ask
State the exact round size and the top one or two uses of funds, tied to a specific milestone the money will hit.
Kawasaki's rule and YC's demo day guide both treat the ask as a single, precise slide; on stage this runs about 12-18 seconds, just the round size and top two uses of funds.
Include
- Exact round size in dollars
- Top 1-2 uses of funds, not a full budget breakdown
- The specific milestone this round gets you to
Cut
- A full pie chart of every spending category
- Vague uses like 'growth and operations'
- Valuation negotiation details better saved for follow-up conversations
Red flags a reader notices
- The round size is not stated as a specific number
- Uses of funds are generic (hiring, marketing, growth) with no milestone attached
- There's no stated outcome the round is meant to achieve
Pitfalls behind them
- Rounding the ask to a vague range instead of a specific number
- Listing five use-of-funds categories instead of the top two
- Failing to state what milestone the raise buys
60-second self-test
- · Did I state one specific dollar figure, not a range?
- · Is there a clear milestone this money is meant to reach?
Template
We're raising $[amount] to [top use of funds] and reach [specific milestone] by [timeframe].
Weak
"We're raising a round to fuel our growth and expand the team."
Strong
"We're raising a $3M seed to expand into 40 new countries and hit $500K ARR within 12 months."
One dollar figure, one clear use, one measurable milestone with a deadline.
Quick quiz
Pick an answer. Nothing is graded, and correct answers stay hidden until you choose.
1. What should the ask slide avoid?
2. Which ask is strongest?