If you have a funding announcement, it’s about to get busy and competitive. Why? In short, the election and Thanksgiving crunch are compressing the timeline, and the post-summer pickup in deals means there’s more competition for attention.
While Crunchbase reported that startup VC funding was down in August 2024 compared to July, let’s remember this is a lagging indicator. This data is from rounds that were announced in August—not closed. Typically, startups try to avoid announcing when their audiences are away, making the post-Labor Day weeks more competitive. By way of example, here’s a Series C we announced with Hotel Engine in Fortune last week. It’s likely that Crunchbase will reflect a higher number of deals in September as a result.
Operationally, it’s also harder to announce in August. Stakeholders, reporters, attorneys and VCs are away from their desks, and everything takes longer.
But now they’re back — and it is on! Anecdotally, we have spoken with multiple startups who have either closed or are about to close their rounds—more than we saw going into the summer. We can assume the interest rate cut will only accelerate the pace of dealmaking.
If you have closed your round, now is the time to swing into action with your funding announcement (here’s how to do it). Typically, the process takes 4-6 weeks. Let’s assume you get rolling at the start of October. This lands you, at best, in the week of October 28. If you can get it done that week, then great. Many will target Tuesday, October 29, through Thursday, October 31.
The election is Tuesday, November 5. This will be a tough week for funding announcements, not necessarily because reporters covering funding are writing about it, but because your audience’s attention will be elsewhere. Everyone will be distracted, including reporters — avoid this week if you can.
The following week starts with Veterans’ Day. The day after a public holiday is never great for company news since it’s hard to coordinate changes and prepare. You might get it away later that week, which is a short one, but an option.
We then have the week of November 18. Many startups who pushed off from the election will target Tuesday the 19th. Smaller rounds or earlier-stage startups should perhaps go a bit later.
After that, we’re into the Thanksgiving holiday. We’re basically talking about Tuesday, November 26, here to avoid the Monday when public companies announce and the Wednesday when people are largely off to buy a turkey and face traffic. An announcement this week isn’t out of the question. We’ve done it. It can even be an advantage for some startups, since competition is lower. But as with Labor Day, many stakeholders will be on vacation, and reporters may need to interview, write and file the week prior. Plan accordingly.
Thanksgiving marks the start of the general distraction that comes with the holiday season. Nonetheless, there are still windows of opportunity. The week of December 2 is a good choice if you can get interviews and other arrangements done before Thanksgiving. It can be challenging if your spokesperson is out over the break, but the end of the week might work. Next is the week of December 9, and part of the following week — the last reasonable opportunity to issue news in 2024. Schools and colleges start breaking up from around the 18th, so folks will start signing off until the New Year. Aim for the 17th or 18th as the final day.
All together, we’re really looking at four good weeks from today for funding — one at the end of October, the week before Thanksgiving, and then two at the start of December. There are other possibilities, but each has some hair on it.
Why do I go into all this detail? Because startup funding, like everything with startups, is competitive. It’s easy to think here at the end of September that there’s plenty of time, but when you get into it, timelines slip on closing, and this year the election creates a blackout period. At the same time, more deals seem to be getting done. It’s manageable, but set yourself up for success and don’t sit on that announcement process.
About the Author
Morgan McLintic is the founder of Firebrand. With over 25 years’ experience in the tech sector, he advises clients about their marketing and PR strategy. Prior to Firebrand, he was the founder of digital communications agency, LEWIS in the US, growing it to 250 staff and $35m revenue.
