It’s a startup that is rare tears down its own pitch deck, but that’s exactly what Equals did after it raised a $16 million Series A round. Equals mission that is not to ever change the spreadsheet, but to ensure a spreadsheet may do whatever its users put at it. As an inveterate spreadsheet individual, this is certainly a method I can also get behind the bright and bold design of Equals’ deck.

I that I can get behind — I’ve built entire software solutions with extremely complex spreadsheets as the back end.

Furthermore, as a pitch deck connoisseur particularly enjoyed a take I’ve not often seen in deck design, which is breaking down the deck into two sections that are different a pitch deck and a data deck. The latter provides a dysfunction regarding the company’s financials over seven slides, showing ARR, lead-to-customer conversion prices, churn, along with other numbers. It’s a idea that is good I often advise startups to tell the story with words, then tell the same story with numbers.

Let’s see what else there is to love about this deck.

We’re looking for more unique pitch decks to tear down, so you can do that.

  • Slides in this deck
  • Figures from the two traction slides were redacted, and there is a lot of (redacted) data in a separate data deck if you want to submit your own, here’s how. There aren’t any marketplace go-to-market and size slides either, but we’ll get to that later.
  • Cover slide
  • Opening statement
  • Mission slide
  • Problem slide
  • Solution/mission slide
  • Product (“Meet Equals”)
  • Product demo slide
  • Product validation slide
  • Traction slide
  •   Traction 2 slide
  •   Product highlights slide
  •   Product roadmap slide

      Team slide

      Ask and use of funds slide

      Closing slide

    Three things to love

    [Slide 4]I’ve already given Equals kudos for the design, but this deck is striking enough that it’s worth mentioning again: This is a deck that is good-looking. Here are some other stuff that endured away in my experience:Making it realFor a bit, it’s seemed as then build a tool that’s better, more focused and easier to use if the easiest way to build a successful software startup was to find something people use Excel for. That’s worked well for countless businesses, so it’s a undertaking that is bold undertake do well at its house grass, by changing a spreadsheet with . . . a spreadsheet. Airtable has already established some success in this room, so one of many things that are first springs to mind is whether there is room for another company in this vertical.

    Equals makes a comprehensive and argument that is compelling a resounding indeed to that particular concern by detailing completely lots of good use instances for the computer software: Here’s an issue fall for you personally . . .  Image Credits

    : Equals

    The issue appears genuine adequate, nonetheless it appears mostly regarding the provenance of information and information analysis/algorithms. And yes, Excel

    [Slide 6]files could be difficult, but succeed itself has actually a comparatively powerful solution that is online well now (so the statement “Excel has not” feels slightly hyperbolic). We also have Google Sheets, Airtable and a ton of other competitors that are potential the area.
    Still, when you look at the dry and dull realm of spreadsheets, this is certainly one of the most way that is fun outline the problem you’re trying to solve. I like it!

    So it’s Excel, but more* that are online( Here’s where secret takes place.

    Image Credits

    : Equals

    [Slide 12]Founders, specifically technical creators, frequently face a challenge that is tremendous trying to explain what their startup does in simple terms. I’m really impressed that Equals’ team managed to distill the product down to something this simple: Spreadsheets, but with database connections and collaboration. That very statement that is simple a lot of technical complexity and exactly what need already been a complete nightmare of an integration challenge.
    But concealing the complexity is a idea that is great The end users don’t want to know why their spreadsheet won’t connect to the Stripe data source. They just need it to work.Quite elegant. Very well done.

    That’s how you map a path to the future! Such a way that is great map your not too distant future. Image Credits:


    Investors seldom worry about this degree of granularity in your product or service roadmap, but they’re not


    , you realize? This might be outstanding overview that is rough of you worry about and does not go in to the weeds in regards to the peanuts and bolts of exactly what the manufacturing group is creating.

    Even though this plan of action is quite technical, I’m impressed because of the team’s ability to withstand the urge to too go into much here. I’ve no idea exactly what they’re going to connect Command + K to, nonetheless it does not really matter — this is certainly outstanding top-level view which will allow you to have a board-level discussion in regards to the item concerns when it comes to next year.

    I’ve no basic idea what they’re going to link Command + K to, but it doesn’t really matter.

    Equals has also done something clever with the slide that is preceding slip 11 reveals the functions which have recently been built, which in turn enables the narrative to move uniformly to the fall (because of the present functions today showcased in grey). This enables you to have a conversation that is two-step the product: Talk about everything you’ve built, then talk about everything you’re going to build and how that helps the product become more relevant to your target audience — and maybe expand the potential user base as well.

    As a startup, you can learn from this slide that you should not spend too much time on your product. These two slides are a example that is great of you can easily sidestep that issue with finesse.

    In the remainder with this teardown, we’ll take a review of three things Equals may have enhanced or done differently, along side its full-pitch deck!

    [Slide 8]Three items that could possibly be enhancedIt’s not all the rainbows and unicorns in Equals’ deck . . .Be aware of one’s market

    A pretty common issue with pitch porches is they are talking to that it’s sometimes hard to tell whether the founders understand who. Check out this testimonials slide:

    Yeah, but do the investors care?

    • Image Credits
    • : Equals
    • I have no doubt that this is a slide that is powerful use within the company’s product sales operation whenever conversing with new business. But I’m perhaps not yes exactly how efficient its included in a good investment pitch.
    • I am able to see issues that are several:

    I don’t know what any of those logos are. Okay fine, I recognized Notion, but I have no basic idea exactly what Levity is or does, and I also don’t recognize the V logo design. This means that two of this three logos about this slide aren’t helping convince us to spend. So just why utilize them?

    Two estimates and another set that is unaccredited of don’t really serve as a particularly strong set of testimonials.

    In the final testimonial, the line it going anywhere anytime soon” can be easily misconstrued“ I don’t see. I’m presuming the person suggested that their particular item is here now to remain, but that is not 100% obvious from the estimate.

    It’s Poor form to properly have quotes without attributing them to someone. Who said these things that are nice? You should definitely highlight that if it were the CTO of a company. Think if you attribute “This is a really good product” to “an Apple employee,” would that be a good thing about it this way? If Tim Cook stated it, that’d be quite great. If some sales that are random in an Apple Store said it . . . You know what I’m getting at.

    [Slide 14]Overall, this slide seems neutral at— that is best at the very least with regards to persuading an investor to spend. Out of the deck altogether.So . . so it’s probably safe to just leave it . how big is this market?

    Perhaps I’m picking at nits here. Ask any investor, “If I can steal 30% of Excel’s business, is the market big enough?” and you’ll probably get a resounding yes.

    The plain thing is, this deck can also be missing a go-to-market slide. Meaning Equals is missing two possibilities to inform people exactly how it’s contemplating its marketplace. That are the shoppers? Exactly how many of all of them is there? What’s the value prop? Just how can these customers are reached by you? How do you convince them to stay? You’ll need to answer that cadre of questions to raise money — successfully also it’s a little slim on the floor in this deck.

    • What will be the goals, however?! Erm, certain, but it is too vague.
    • Image Credits: Equals
    • Investors aren’t trying to find a ballpark figure or a plan that is vague it comes to how your startup will use the funds raised. A“use that is well-crafted of” slide does more than simply record expenditures; it develops trust. When you’re clear regarding the needs that are financial how they align with your business goals, you’re showing potential investors that you’re not just another startup looking to burn cash. No, instead, you’re a entrepreneur that is serious a plan for development and a definite sight money for hard times.
      i am aware many creators stumble about this slide that is critical. Glamorous but unnecessary expenses, a abyss that is nebulous of” prices, and obscure explanations of the way the resources will undoubtedly be utilized are only a number of common problems that may change people away. Equals drops victim to such a trap: nothing among these targets tend to be almost certain adequate. The fall ought to be as detailed and clear as possible, avoid generalizations, and focus on specific, measurable, achievable, relevant and time-bound (SMART) goals.

    “Scale marketing”

    : Sure, but to what?“Scale success”: Yes, but what’s the goal? How do you know you’re successful?

    “Accelerate pace”: Well, yes, but you’ve hit that goal.

    Be if you wrote 10 new pieces before the fundraising and managed 11 afterward certain. Make use of your “use of funds slide that is. This is not the time for abstraction, but for bold, specific, quantified audacity. This slide is where you spell your vision out in bucks and dollars, if you are doing it precisely, it’s where people will start to see their particular futures aligning with yours.

    Crucially, a well-designed “use of resources” fall helps color the image for your all our Pitch Deck Teardownsnext

    capital round. You raise the Series B? Great if you hit all the goals, can! Does your plan set you up for success? Fantastic!(*)This slide is almost useless, which is such a shame. Greater precision here would make fundraising (*)so(*) much easier.(*)The full pitch deck(*)If you want your pitch that is own deck featured on For Millionaires, right here’s more info. Additionally, take a look at (*) all-collected in one single place that is handy you!(*)