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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Why Founders Should Not Always Be Raising, How To Build Relationships with VCs In A Condensed Timeframe, Why The Founder To VC Relationship Is Not Like A Marriage with Dave Vasen, Founder & CEO @ Brightwheel

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 14 December 2018

⏱️ 32 minutes

🧾️ Download transcript

Summary

Dave Vasen is the Founder & CEO @ Brightwheel, the child management software solution you need and now the #1 platform for early education. To date, with Brightwheel, Dave has raised over $33m in funding from some of the best in the business including Bessemer, GGV Capital, Lowercase Capital, Chan Zuckerberg Initiative, our friends at Eniac Ventures and then the likes of Mark Cuban and Chris Sacca. As for Dave, prior to Brightwheel, he was a VP of Product @ AltSchool and before that spent 3 years at Amazon in numerous different roles including Head of K-12 Education on Kindle and developed and launched the “Made for Kindle” licensing program – both domestic and global.

In Today’s Episode You Will Learn:

1.) How Dave made his way into the world of edtech and startups from being a consultant at Bain and product manager at Amazon?

2.) Why does Dave fundamentally disagree that founders should always be raising? What is the right way that founders should approach the fundraise? How can founders turn down investor meetings politely when requested and they are not raising? What is the right way to think about capital as a weapon today and the effective allocation of it?

3.) Why does Dave disagree with many elements that the Founder/VC relationship is a marriage? What one element, other than capital, does Dave most look for in a potential investor? What can founders do to really compress the fundraise timeline? How can founders build relationships with VCs under these compressed conditions?

4.) In the valley there is a large amount of glorification around the scaling and founding of companies, how does Dave feel personally about this glorification? How would Dave like to see this mindset fundamentally change? In terms of mindsets, why does Dave push back against the suggestion of VC "pattern recognition"? How has being an older founder and father changed the way he thinks about building Brightwheel today?

5.) How does Dave interpret the meaning of focus today with regards to company building? How does Dave determine the elements to really double down on? How does Dave think about saying no to opportunities? What framework does he use? What have been some of Dave's biggest learnings on culture and being prescriptive around it?

Items Mentioned In Today’s Show:

Dave’s Fave Book: The Five Dysfunctions of a Team: A Leadership Fable

As always you can follow Harry, The Twenty Minute VC and Dave on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Transcript

Click on a timestamp to play from that location

0:00.0

We are back for one of our final weeks before the Christmas break here on the 20 minute VC and Founders Friday with me, Harry Stebbings,

0:06.2

and I would love to welcome you behind the scenes to my Christmas break and the festivities there,

0:10.7

and you can do that on Instagram at H. Stebbings, 1996 with two bees. But to the show today,

0:15.9

and I have to say this one was so much fun to record and just a truly phenomenal entrepreneur and so I'm thrilled to welcome

0:21.3

Dave Vasson to the hot seat today. Now Dave is the founder and CEO at Brightwheel, the child

0:26.3

management software solution you need and now the number one platform for early education. To date with

0:31.6

Brightwheel, Dave has raised over $33 million in funding from some of the very best in the business,

0:36.4

including Bessemer, GGV, lowercase,

0:39.2

the Chan Zuckerberg initiative, our friends at ENIAC, and then the likes of Mark Cuban and Chris

0:43.6

Zacker, just to name a few. As for Dave, though, prior to Brightwheel, he was a VP of product

0:48.0

at Alt School, and before that I spent three years at Amazon in numerous different roles,

0:52.1

including head of K-12 education on Kindle,

0:54.6

and developed and launched the Made for Kindle licensing program, both domestically and globally.

0:59.9

And I'd also want to a huge thank you to the wonderful Mr. Matt Mazio and the teams at Eniac,

1:04.2

Bessemer, and GGV for providing such fantastic questions suggestions today.

1:08.3

I really do so appreciate that.

1:10.4

But before we dive into the show today,

1:12.1

as a VC, making new investments and working with founders is your top priority. So instead of

1:16.7

worrying about scaling your back office, you need a fund administration partner. Much like

1:20.9

how Carter changed how private companies manage their cap tables and 409A valuations. Carter are now

1:26.3

doing the same for fund admin. With Carter's new

1:28.7

modern fund admin software and services, you get a real-time dashboard of your general ledger,

...

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