The Kaniuk Forward Pitch Template

After a failed raise, you can’t pitch the same story. You pitch what changed.

The Five-Part Structure

Your pitch after failure has five parts:

1. What Failed (30 seconds)
2. What Changed (60 seconds)
3. Why Now (30 seconds)
4. What’s Different (60 seconds)
5. What We Need (30 seconds)

Total time: 4 minutes. This is not a full pitch. This is the conversation starter for someone who’s seen you before.

The Template (Fill-in)

Part 1: What Failed (30 seconds)

“Three months ago we pitched [investor type / market name / round amount]. We didn’t close. The main feedback was [one thing]. We heard that [a second thing] mattered more than we built for.”

Example: “Three months ago we pitched our Series A to enterprise SaaS VCs. We didn’t close. The main feedback was that our product integration wasn’t deep enough. We heard that most of our prospects needed us to integrate with their existing Salesforce workflows, not build a separate tool.”

Part 2: What Changed (60 seconds)

“In the past 8 weeks, we [specific thing 1], [specific thing 2], and [specific thing 3]. Here’s the proof: [metric 1], [metric 2]. Our [new hire / new partner / new channel] means [specific outcome].”

Example: “In the past 8 weeks, we built a native Salesforce integration, hired a VP Sales who spent 15 years at HubSpot, and moved our focus from SMBs to mid-market companies. Here’s the proof: Salesforce integration is live, used by 8 of our 12 largest customers. VP Sales has opened doors at 40 companies he knows personally. Our average deal size moved from $8K to $35K. We also found a partner (Acme Consulting) who resells our implementation. They’ve committed to pipeline.”

Part 3: Why Now (30 seconds)

“The market just shifted [or you just realized something]. [Specific catalyst]. This changes the timeline for [outcome]. We can now [specific thing that wasn’t possible three months ago].”

Example: “Salesforce announced they’re deprecating a competing integration in 12 months. Every customer using that integration will switch. That’s 2,000 potential customers. We can now land-and-expand into accounts where we couldn’t before.”

Part 4: What’s Different (60 seconds)

“Before, our unit economics were [weak metric]. Now they’re [strong metric]. Before, we were selling to [customer type]. Now it’s [new customer type] and they buy 3x faster. Before, we had [the team problem]. Now [the team fix]. We’re still the same company, same product, same founders. But we’re operating in a different position.”

Example: “Before, our CAC payback was 18 months. Now it’s 8 months. Before we were selling to tech startups. Now we’re selling to insurance and financial services companies and they buy in 90 days instead of 6 months. Before we had a head of product from a startup that failed. Now we have a VP Sales from a public company. Same founders. Different position.”

Part 5: What We Need (30 seconds)

“We’re raising [amount] for [specific use]. The money goes to [this] and [that] and [this]. At [this metric], we’re profitable. If we miss [this metric], we’ve wasted your time and money.”

Example: “We’re raising $2M for sales team build-out, enterprise customer success, and the Salesforce ecosystem integration. The money goes 60% to sales hiring, 30% to support, 10% to engineering. At $3M ARR, we’re cash-flow positive. If we don’t hit $1M ARR in 12 months, we’ve messed up.”

Complete Templates for Three Scenarios

Scenario 1: Failed Raise Recovery

“Nine months ago we pitched our Series A. We raised nothing. The feedback was that our churn was too high and our unit economics didn’t work at enterprise scale.

In the past 6 months we pivoted our pricing to annual contracts instead of monthly, hired a VP Success from Intercom, and focused on 40-person to 200-person companies instead of trying to land Fortune 500s. Churn dropped from 12% to 3%. CAC payback went from 22 months to 11 months. We’re now closing six-figure contracts with a 16-month payback, not 18+.

We realized something we missed: our product was built for speed and simplicity. Enterprises want features and control. Mid-market wants speed, control, and a hand-holder. That’s what we’re built for.

Before: high churn, weak economics, selling to everyone. Now: predictable churn, strong payback, selling to companies we know how to retain. Same product. Same founders. Different position.

We’re raising €1.5M to hire 8 more salespeople, build out enterprise support (no more founder support), and add five feature-requests our customers are asking for. At €8M ARR we’re cash-flow positive. If we don’t hit €3M ARR in 12 months, this hasn’t worked.”

Scenario 2: Pivot

“Six months ago we were selling API infrastructure to developers. We pitched and didn’t land any serious money. The feedback was that the market was crowded and we weren’t differentiated.

Then our best customer asked if we could solve their specific problem: integrating legacy systems with their modern stack. We built a solution for them. They paid. Then their competitors asked for it. Now we have four customers in that space paying 10x what we charged for API access.

That shift changed everything. Our TAM moved from a crowded market to a specific vertical where we’re the only solution. Our sales cycle moved from “convince engineers to try something new” to “help ops teams solve a painful integration problem.”

Before: developer tools in a crowded market, long sales cycles, low pricing power. Now: enterprise integration software for a specific pain point, 3-month sales cycles, 10x pricing. Same team. Different market.

We’re raising $1.5M for sales team build-out, product depth in integrations, and go-to-market in our vertical. At $5M ARR we’re profitable. If we don’t hit $1.5M ARR in 12 months, we’ve stayed a feature, not a business.”

Scenario 3: Second-Time Founder

“Three years ago I founded and sold a company to [acquirer]. I took a year off. I’m back.

This company is still early but I’m not naive about what takes. My first company grew to $4M ARR before acquisition. This one is at $200K ARR with four people. Not because we’re behind. Because I’m intentional about build speed.

In the past 10 months we’ve shipped the core product, landed eight customers paying $2K to $15K per month, and I’ve rebuilt my network with 12 advisors who’ve been through this at scale.

What changed since my first company: I know the difference between growth and health. I know the difference between revenue and profit. I know the difference between a good team member and someone who’ll break when things get hard.

Before: first-time founder, raising too much too soon, trying to hire all at once, building for product-market fit. Now: experienced founder, raising just enough, hiring for depth not speed, building for repeatable revenue.

We’re raising $2M for sales team and technical infrastructure to handle enterprise customers. At $2M ARR we’re cash-flow positive. If we don’t get there in 18 months, I’ve made the same mistake twice.”

Email Version (3 Paragraphs)

Use this if you’re emailing investors to re-engage after a failed raise:

“Hi [Name], six months ago I pitched Series A and didn’t close. The feedback was [core issue]. I’ve spent the past 6 months proving that issue is fixable. [Specific metric] moved from [X] to [Y]. [Specific hire / product change] means [specific outcome].

I’m not asking you to reconsider your old investment. I’m asking you to look at what’s different. We’re still [company description] but we’re now operating at [new unit metric] and selling to [new customer type] instead of [old one]. This changes the timeline and the probability.

I’m raising [amount] for [use]. Are you open to a conversation about what’s changed?”

Deck Version (5 Slides)

If you’re pitching in person:

Slide 1: “What We Heard” — Three bullets. The feedback from your failed raise.

Slide 2: “What Changed” — Two metrics before and after. New hire or product change with one sentence description.

Slide 3: “Why It Matters” — One thing about the market that’s different now. (Or one thing we realized about our own market.)

Slide 4: “What’s Different” — Before/after comparison. Same company. Different position.

Slide 5: “What We Need” — The ask. Where the money goes. The metric that defines success.

Six slides max. No more.

What NOT to Say

Don’t say: “We’ve learned so much.” Say: “Our churn dropped from 12% to 3%.”

Don’t say: “We’ve pivoted to a huge market.” Say: “We’ve focused on mid-market companies. They buy 3x faster than enterprises.”

Don’t say: “Our team is now incredible.” Say: “We hired [Name] from [Company] who closed $50M in revenue before.”

Don’t say: “We’re so much stronger now.” Say: “Our metrics: [metric was X, is now Y].”

Don’t say: “This time it’ll be different.” Say: “Last time our CAC payback was 22 months. Now it’s 11 months. Here’s the data.”

Don’t make them guess what changed. Tell them exactly.

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