Well, that was fast.
Seattle-based entrepreneurs Kori Handy and Mitchell Porter launched Founderfox this weekend as a way to help founders pitch investors via mobile video.
Now, just a few days later, they’ve got some cash to help build out their new app.
Handy told GeekWire that his company just reeled in $400,000 in funding from an unnamed Seattle venture capitalist who he met on Monday. Handy explained how after some drone flying, a few beers, and a bit of conversation, the investor was in.
Even more, the investor first learned about Handy and Mitchell via the Founderfox app itself, which lets founders upload 2-minute video pitches.
As Founderfox launched this weekend, the founders uploaded their own pitch video to the app. The investor saw the pitch and wanted to learn more. A few days later, he was signing a check for $400,000.
“We got funded from our own product,” Handy said. “How cool is that?”
Handy said he was “completely shocked” with the investment, and noted that his video was published more to help other founders feel comfortable pitching on the Founderfox platform.
Handy added that the app is growing and four startups have already made connections with venture capitalists.
“Our platform works,” he said. “It’s not just us — other people are getting contacted, too.”
Handy and Mitchell, who work out of a garage, will use the fresh funds to contract a few developers and hire a community manager. The pair moved to Seattle from San Francisco last month to “escape the posers” in Silicon Valley, among other reasons.
So far, the entrepreneurs say they like Seattle both as a city and a startup hub. Handy said there is a lot of “quiet money” in the Emerald City.
“The millionaires here do not brag like the Valley, are a little more laid back, and seem like they actually enjoy life,” he explained. “There are lots of smart people who have cashed out here and are maybe a little bored and looking to invest.”
Handy also noted that he and Porter will be able to build a team in Seattle and live much more modestly than in Silicon Valley.
“San Francisco is way too expensive — I don’t miss it,” he said. “The only thing we miss is the sun, but it’s getting warm and sunny here now.”