Mile1 offers a SaaS product that enables high-end retail stores to safe-deliver luxury goods. Their software provides a driver application for boutique delivery partners and a customer interface for parcel tracking.
Mile1 joined Innovation Factory in late 2021, struggling with their first financing raise. They required immediate assistance to perfect their pitch and understand the intricacies of the fundraising process.
Innovation Factory rallied a support team for Mile1, enhancing their pitch with communications and venture growth advisors; and providing deep insights into angel group operations and due diligence preparation through an investment advisor. The action-oriented plan facilitated Mile1’s successful shift from bootstrapping to growth.
Mile1 successfully closed a $500k pre-seed investment round and largely attributing this to Innovation Factory’s timely coaching. With this capital, they’ve been focusing on larger partnership deals, doubling their revenues, and planning to expand their sales team, further benefiting from Innovation Factory’s sales coaching.