New AI Tool May Help Startups Pitch Ideas To Investors
Promise Phelon, the managing partner of Growth Warrior Capital, is looking to help startup companies attract new investors, and she has a new tool to do just that.
According to Business Insider, Phelon has a background as an operator for marketing at tech companies such as JazzHR and TapInfluence. She works alongside her partner Ashley Pilipiszyn, who previously worked as a technical director, and is noted as one of OpenAI’s first employees back in 2018.
Phelon is less focused on sorting through pitches from business owners and “deciphering narratives” than she is on spending “more time meeting with founders and CEOs.” She believes these startups have the potential to “fundamentally change the way we work, earn, and build wealth,” according to the outlet. However, Phelon said the issue is the founders of the companies fail to receive recognition from venture capitalists because of their race or gender.
To help startups reach investors, Phelon began to wonder “what if we could take the most successful pitches from a VC’s perspective and from founder outcomes, like getting the valuation they wanted or getting funded quickly, and build a generative product that enable[s] you to do that quickly?”
This led to Elevo, an AI-powered, pitch decker builder created at Growth Warrior Capital. The AI tool was trained using pitch decks from multiple databases and startup decks from other VC companies. “You want the pitch to not tell the entire story, but you want it just to be enough so the VC says, ‘I understand it, it matches what we care about, and I’m intrigued,'” Phelon said.
Elevo’s waitlist launched on Thursday; however, Phelon said founders can register for first access in October when the product is released.
There are currently no plans to make financial gains from the AI pitch deck builder.