Approaching the press to announce funding requires a subtle understanding of the media. There is a specific type of journalist who will cover a funding announcement, and an even more specific type of journalist who covers funding announcements exclusively regardless of your industry. Certain outlets, like TechCrunch, might only report high-dollar funding announcements, while others, like your local business journal, are more willing to report on smaller announcements in local markets . Discerning who would be interested in your news is the first step in announcing your company’s funding.
Put yourself in a venture capitalist beat writer’s shoes. You receive 100-plus emails a day with funding news in industries you may not even care about. You don’t have time to respond to every pitch to get the information you need to create a complete, thorough story. In fact, you may not even have the time to write your own story, so you simply slap the release onto the funding page of your site. So, if we know this about journalists, why don’t we just give them what they want? Before sending a funding announcement, consider these action items to increase your chances of a hit.
An understanding of which outlets to pitch and which to avoid based on readership, income levels, editorial themes and direction, etc.;
Thorough research to find the right reporter who would be interested in your announcement;
A holistic announcement that answers any and all questions the reporter may have (remember: It’s always easier for them to cut information rather than add more), including:
How much was raised in this round? In total?
Who led the round?
How does this round of funding help you achieve your mission or short-term business objectives?
For a more tactical view of executing a funding announcement, head to this post about components to include in every funding press release.