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Blood & Treasure · Free Deck Review

An investor’s read. Before the meeting.

$75M+ in funding, awards and exit value across startups we’ve worked with.Put that experience behind your next pitch.

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Beyond the slides

Deck analyzers grade your slides. Investors grade your company. We look beyond the deck to find what they’ll question - and what you can fix before the meeting.

How the review works

Slides read
00/20
Flags
0/5

01 · Read

Send your materials. Then we talk.

Share your deck, model and notes. We ask the hard questions, including what isn’t written down.

What the report covers

Your business. Your opportunity. Your raise.

Our team’s judgment, informed by research and a decade building for startups: what holds up, what doesn’t, and what to do next.

  1. 01

    Holes in the business

    Where the model, market, traction or numbers don’t support the story.

    • Model
    • Market
    • Traction
    • Team
    • Numbers
  2. 02

    Holes in the deck

    Unsupported claims, missing proof and conflicting figures.

  3. 03

    The competitor you left out

    Who’s already selling to your buyers - and why investors will bring them up.

  4. 04

    Slow steps first

    Regulation, cap-table fixes and other dependencies funding can’t speed up.

  5. 05

    The one pattern

    The underlying issue connecting the findings, and where to start.

  6. 06

    Facts to get straight

    The hard questions to answer before your first meeting.

What you get back

An honest verdict, with reasons.

What the round needs to prove, what to fix first and which questions need your answer. Explore a sample for a fictional company.

Contents

QuaysideConfidential

1. The Answer, In One Page

Not yet: reconcile the numbers, correct the market story and resolve the cap table before you pitch.

The product is real, marinas like it and net revenue retention is strong. None of that is the problem. The problem is that a careful investor will find four things in the first hour of diligence, and each one makes the next one look worse.

  1. 1.The customer count does not reconcile. Slide 9 says 41 marinas are live. Slide 14's MRR at your own average price implies 30 paying.
  2. 2.The market size is the marinas' revenue, not yours. $4.1B is berth fees. Your reachable software spend is closer to $15M a year.
  3. 3."No direct competitors" is not true. Two funded booking platforms already sell to the same harbormasters in the UK and the Netherlands.
  4. 4.The marketplace is 6% of bookings. The rest come through each marina's own website widget, which is SaaS revenue, valued as SaaS.

Re-cut the story as the booking and payments layer for independent marinas, with the consumer app as upside rather than the thesis. That version survives diligence. The current version invites a valuation you cannot defend.

Grounded in evidence

The reasoning behind the read.

Our team checks the evidence behind each judgment. Press + to see the sources, reasoning and what could change our view.

  1. 1

    Source. The evidence we checked.

  2. 2

    Doing. What each source establishes.

  3. 3

    Together. What the evidence shows together.

  4. 4

    Concluded. Our conclusion and why.

  5. 5

    Would change. What could change the conclusion.

1. The Answer, In One Page

Re-cut the story as the booking and payments layer for independent marinas, with the consumer app as upside rather than the thesis. That version survives diligence. The current version invites a valuation you cannot defend.

The one pattern

“The deck pitches a marketplace, and the evidence describes a well-liked booking tool.”

From the sample report. We name the central issue so you know what to fix first.

Venture scouting · NYC

A review can open a door.

We scout startups for investors in NYC. If your company looks like a fit for someone in our network, we’ll ask your permission to put it forward. We can’t promise investor interest or funding.

Know what’s coming.

Get a free, human-reviewed read on your business and raise. Honest enough that some of it may be hard to hear.