Closing feels like the finish line. It's the start of a new job: being a good steward of other people's money. Most of what goes wrong after a raise is admin that slips, and it's much harder to fix six months later.
This guide is the first month, in order. It isn't legal or tax advice: your lawyer and accountant make the calls on filings and taxes.
1Match the money to the paper
Before you spend anything, make sure every dollar has a signed document behind it.
| For each investor | Where it lives |
|---|---|
| Signed SAFE or stock purchase docs, countersigned by you | Data room, 04 Cap table |
| Wire or transfer received, for the right amount | Bank statement |
| Their legal name and entity, exactly as on the docs | Cap table |
| Any side letter (pro rata, information rights, MFN) | Data room, 04 Cap table |
Then update the cap table with your lawyer. If you raised on SAFEs, run your numbers through the SAFE calculator so you know what you own before the next round, not during it.
2Handle the filings with your lawyer
If you raised in the US under Regulation D, which covers most SAFE and seed rounds, the company usually files a short notice with the SEC called Form D.
The clock starts on the date the first investor is irrevocably committed to invest. If your round ran for months, that may have been your very first signed SAFE, not the closing. Many states also want their own notice filing. Your lawyer knows which ones.
1. Did we file Form D, or do we need to? Who files it, and by when? 2. Which state notice filings do we need, and what do they cost? 3. Is the cap table updated with every SAFE, note and side letter? 4. Do any investors have information rights or pro rata rights we need to track? 5. Accountant: anything to set up now for taxes on this round (for example QSBS records)? 6. Do we need board consent for anything we're about to spend on?
3Thank people, tell people, close the loop
The people who helped you raise this round are the people who'll help with the next one.
- Investors: a short personal thank-you, with when to expect your first update.
- Connectors: everyone who made an intro, whether or not it turned into money.
- Team and best customers: they should hear it from you before they see it anywhere else.
- Investors who passed: a one-line note keeps the door open for the next round.
Announce publicly only if it helps you hire or sell. A funding announcement is a tool, not a requirement.
Hi [first name], quick update: we closed our [$X] [stage] round with [lead, if public]. Thanks again for the clear answer earlier. Would you like to be on our monthly updates? We'll be back in [timeframe] with [the milestone that would change your mind].
4Send update number one, then keep the rhythm
Pick a date, for example the first Tuesday of each month, and never skip it. Good months and bad months both go out.
Write my monthly investor update for [Month]. Numbers: [revenue or main metric this month and last month], [customers or users], burn [$], runway [months]. Wins: [list]. Challenges: [list]. Asks: [specific intros or help]. Rules: TL;DR first, then a numbers table, wins, challenges, asks and next month. Under 300 words. Use only my numbers. Where something is missing, write "Add: ...". Plain, confident tone, no hype. Every ask must be specific enough to act on.
The full template is in the free Raise Templates.
5Turn the money into a plan
The money buys milestones. Write down which ones.
Runway (months) = cash in the bank ÷ net monthly burn Example: $900,000 ÷ $60,000 = 15 months. Plan the next raise to start with at least 6 months left.
Act as my startup CFO. I just raised [$X]. Cash today: [$]. Current monthly burn: [$]. My use of funds: [categories and amounts]. Planned hires: [roles, salaries, start months]. 1. Build a month-by-month burn and runway table for the next 18 months. 2. Show the month I should start raising again (6 months of runway left). 3. List the 3 milestones my next round will need to see, and which spend buys each one. 4. Flag any hire or expense that doesn't move one of those milestones. State every assumption. Don't invent revenue I haven't given you.
Put idle cash somewhere safe and boring, separate from your operating account, and decide who can approve spending above a set amount.
6Claim what you now qualify for
Many startup programs open up once you've raised, from cloud credits to banking and analytics deals. See the funded-founder stack and the perks list, and apply for the ones you'll actually use.
Use the Raise Templates for the update and the use of funds, the runway formula on this page and the questions for your lawyer.
The investor-update skill drafts each monthly update from your numbers and keeps the format the same every month.
Keep your data room on StartWise as your investor-relations home, and use Platinum's multi-channel outreach to put the money to work on growth.
Do it in StartWise →What's next
Put the monthly update on autopilot with automate your week, give Claude your company's memory with Projects, and see everything for funded founders on the just-raised page. If this helped you close, tell me about it.
NDA-gated rooms, expiring links, and a log of which investor opened what. The free steps above still work. This is the fast way.