A $428 Million Year: How 16 BAM Clients Told Their Funding Stories

In a difficult fundraising year, BAM clients defied the odds. Despite a 42% decline in global venture funding in 2023 compared to 2022, BAM clients were able to raise $428 million in funding last year.

To secure high-quality media coverage for exciting funding news, BAM’s media relations team worked closely with each client to understand their goals and craft the right strategy for success.

Ranging from a focus on revamped messaging to long-tail strategies for targeting a specific reporter, BAM’s media relations team worked tirelessly to secure top-tier media to tell our clients’ funding stories. We’re sharing a peek behind the curtain of all sixteen BAM clients who announced funding last year and the PR elements that made them successful.

Media messaging: Telling the right story 

Crafting a compelling media message is an art form. It involves blending business facts and current industry trends to tell a reporter why your company’s narrative stands out. BAM leveraged storytelling strategies for five groundbreaking clients in 2023, through highlighting unique strengths, getting creative, and building strong narratives.

Andes’ microbial carbon mineralization technology works to permanently remove C02 from the atmosphere through microorganisms, and raised $30 million this year amidst a crowded fundraising space. The BAM team successfully secured a feature story in Forbes, by focusing their storytelling on the company’s innovative technology first and then including the funding news as a supporting element of the Andes story. 

Fynn, a student loan organization helping to finance trade school education, raised $36 million last year. The strategy for Fynn was to combine an older seed round with a recent debt facility to create a broader story on the progress Fynn has made as a company. Knowing Fynn spans education and fintech, the team pitched a general tech reporter to reach both audiences with their story, which appeared in TechCrunch.

SnoFox, a leading business intelligence tool that provides data analytics for the global cold chain, announced a $4.5 million Seed round and a total funding of $5 million last year through a feature story in Axios. BAM kicked off the campaign by helping SnoFox solidify its messaging to ensure their overall narrative was as strong as possible. This process involved highlighting two elements that work in SnoFox’s favor. First, SnoFox sits at the intersection of climate and food waste, helping the industry keep food cold while cutting back on overall emissions, both of which are timely angles. Secondly, the team leveraged SnoFox’s main investor, Voyager Ventures, as part of the exclusive offering, creating a more compelling story for Alan Neuhauser at Axios.

Howdy, a LATAM recruitment agency that supports talent procurement, mentorship, and management, announced a $5 million Series B extension. Given that this was an extension and not a full funding round, BAM decided a funding deck story was the best route for Howdy to add further context and differentiate their story from competitors. After revising their funding deck with the right details and stripping it of any sensitive information, BAM secured an exclusive story with Insider. 

In 2023, Mycocycle — a company using mushrooms to eliminate construction waste — announced its $2.2 million Seed round. Mycocycle operates in an extremely niche industry, but because their story was interesting, unique, and a bit quirky, BAM was able to secure an exclusive in Forbes. 

Partnership: Leveraging strong media relationships 

The right story means nothing if it isn’t told. The key to successful storytelling is making sure it gets in front of the right audience and can be re-told by the journalist to resonate with their audience of readers.

Tola Capital, a Venture Capital firm investing in software that powers businesses, raised a $230 million fund in 2023. Tola established a relationship with BAM six months before closing their fund. BAM Account Director, Courtney Joslin, explains how BAM spent those six months “building up Tola’s presence in the media and laying the groundwork.” As a result, when the fund closed, the BAM team could leverage existing relationships to secure a TechCrunch exclusive and 15+ additional pieces of coverage.

Novisto is an ESG data management software company that closed a $20 million Series B round in 2023. BAM was able to secure an exclusive in TechCrunch to announce Novisto’s funding thanks to, “clear communication and strong media relationships,” according to Jenny Bourne, Account Director at BAM. After Novisto and BAM aligned on desired outcomes and target publications, the BAM team knew that Tim De Chant at TechCrunch was the right reporter for this exclusive, given BAM’s cultivated relationship with Tim and his expertise on climate funding. 

Ron Miller from TechCrunch covered Datasaur’s funding announcement in 2020, laying the foundation for a years-long relationship. After securing $4 million in funding in 2023, BAM reached out to reconnect Ron with Datasaur CEO, Ivan Lee, and catch him up on the company’s growth. The resulting exclusive with TechCrunch had a strong narrative on both the funding, and the company's presence.

ISH Food, a plant-based seafood startup, announced $10 million in February 2023. Their announcement strategy was focused entirely on securing the ideal reporter. Christine Hall at TechCrunch is a long-term follower of the alternative proteins industry and became the obvious choice to tell ISH’s story. This story was successful thanks to ISH Food's commitment to a thoughtful funding narrative and BAM's ability to identify and engage with reporters who have a deep understanding of niche industry landscapes. 

Promise Robotics, an AI company developing a cloud-based industrial production platform for robotic construction and assembly, announced a $15 million Series A last year and worked with BAM to secure an exclusive feature in Forbes. The company’s innovative technology sits at the intersection of climate and housing, solving the housing shortage while cutting down on emissions. The feature in Forbes can be attributed to great industry-related data, and leveraging existing relationships. BAM knew that Steven Aquino at Forbes would be interested in writing about how Promise Robotics would use this funding to address housing accessibility and the housing crisis, his core focus area.

Measurement: Data-driven storytelling  

In the world of storytelling, data is the secret sauce that adds flavor and credibility to the narrative. None of the adjectives you choose to incorporate in your messaging matters unless you have hard and specific data to back up your claims. 

CarbonChain, an AI-fueled carbon accounting platform, raised a $10 million Series A in April of 2023. BAM worked with CarbonChain to land an exclusive with Tim De Chant at TechCrunch. BAM Account Director, Jenny Bourne, attributed the exclusive win to the “great data that CarbonChain shared that BAM was able to include in the release.” BAM also leveraged its strong relationship with Tim to secure the feature story.

Timely hooks: Capitalizing on news moments 

With an abundance of startups raising money, journalists are selective when choosing which stories to feature. They look for the most “noteworthy” rounds and stories that they feel will resonate with their readers. Noteworthy funding stories include a timely hook — a current problem in the world, specific industry, or a trending topic — which can increase the newsworthiness of your story. 

Fero Labs, a startup using AI to reduce emissions, announced $15 million in 2023. Fero Labs had funding news in July, "a notoriously hard month to announce company news," Account Director, Brittany Harran, explained. The BAM and Fero Labs teams remained in close communication and together agreed that the right publication was what was most important. Understanding that exclusivity takes patience, Fero Labs waited for the right publication and reporter to tell their story. With more time, BAM was able to secure exclusive coverage with Forbes.  

Treads, a climate company that raised $5 million in 2023, executed the same tactic while working with BAM. Focusing on a longer, more patient strategy to land the right reporter for their exclusive funding announcement. Given more than a month, the BAM team was able to secure a Forbes exclusive with an accessibility reporter. 

Data privacy company Demox Labs, was launching a new product, Leo Wallet, at the same time they closed $4.5 million in funding. BAM used moth media moments to craft a story about a crypto technology company innovating in a hot industry. As a result, Axios covered the two-in-one announcement. 

BAM secured the launch story of itselectric’s $2.2 million Pre-Seed round. Account Director, Jenny Bourne, notes that, “BAM leaned into itselectric’s key differentiators and wrote a clear narrative on the impact of the company’s technology.” Clearly defining how itselectric stood out in the larger market, BAM secured an in-depth feature with CleanTechnica, a top cleantech trade. This featured story spoke directly to itselectric customers, a major goal of the campaign. 

The Climate Choice, a climate intelligence software platform, announced $2 million in funding last year. BAM secured an exclusive story with Haje Jan Kamps at TechCrunch by including a few big-name customers to legitimize The Climate Choice's claims that their technology is fighting climate change. Knowing their funding round was smaller, all parties remained flexible, allowing BAM to work with the reporters’ timeline to ensure the best publication possible.

Reflecting on 2023 as a whole, our success stemmed from understanding individual client needs and tailoring every funding announcement to the unique circumstances. We are excited to see what success stories we’ll create in 2024! 

Need help determining the right strategy for your funding announcement? Get in touch to speak to our PR experts to discuss which path will help you land the right story for your business.