January 27, 2023

Eureka News

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Hear Cambly post gains on Eureka News Now Live after failing to make a Series A • Eureka News Now

Eureka News Now Live is back! I am very excited to bring this event series back into its third season. We have been fully booked for months and I look forward to being able to host the upcoming guests. Join us for our first episode featuring Benchmark and Cambly on February 1, 2023 at 11:30am PT / 2:30pm ET.

TCL’s mission remains to help founders build better businesses with venture capital. But in 2023, behind that mission is a new urgency. Eureka News Now Live kicked off in the heady days of 2021, and now, in early 2023, the startup world faces new challenges. Fundraising is harder, sales cycles are much longer, and investors (and their LPs) have different expectations.

Our first guests are Sameer Shariff, CEO and co-founder of Cambly, and Sarah Tavel, longtime investor at Benchmark and previously Greylock. They’re the perfect guests to kick off TCL Season 3!

Cambly looks like a safe bet at the moment, but as you’ll hear from Sameer, getting to this point has been a struggle. After failing to muster a Series A, the company had to change its model overnight. When VC said no after VC, Cambly had to find a way to turn a profit to keep the doors open. Since then, the company has raised $20 million in Series A and $60 million in Series B, but only because the company took the tough steps to reach profitability sooner than expected.

Cambly’s Series B fundraiser was very different from Series A, and I hope you can attend the live event to hear the lessons Sameer learned from both rounds. Sarah Tavel led Benchmark’s investment and can talk about why Cambly was a perfect fit for the company – and you’ll hear from Sameer why Benchmark was also a perfect fit for Cambly.

Register here

questions I want to ask

After failing to field a Series A, how has the mindset of the company changed and how have the founders kept the team focused and purposeful? What steps should founders take when aiming for profitable growth before raising venture capital? Cambly is a unique marketplace – how did the company initially acquire customers, and when did the company outgrow and replace the scaling strategy? There are countless language learning marketplaces and services out there, so what Cambly metrics made Benchmark lead a Series B?

And I want you to ask questions too!

Join the live event on Hopin and ask questions in chat. I will do my best to ask her if possible. Can’t attend the live event but can listen to the replay/podcast? tweet meand I will be sure to ask your questions.

Would you like feedback on your pitch during the show?

Pitch training is back! Use this form to apply to present your company. We select 3 companies to feature during the show including 1 wildcard company to be chosen from our Hopin audience during the episode.