Model checker: what investors will ask

Drop in your financial model and get the questions it will raise in the meeting: the growth, the bend where actuals become forecast, margins, runway, burn and the round itself. Each one with the figure behind it and what to have ready.

See the exampleWhat it checks

Read in your browser, never uploaded. No login, no AI, nothing kept.

Cost$0no login needed
UploadedNeverread in your browser
Checks8each with its figure
Rounds compared15,676from the last two years
Questions to prepare for

      Revenue, costs and cash, by month

      RevenueCostsCashForecast

      The plan, a year at a time

      What we read

      Rows are matched by their labels. If one is wrong, pick the right row and everything recalculates.

      What it checks

      Eight things a partner reads first

      01GrowthYear on year against the fastest companies' path

      Tripling twice then doubling is roughly the best software companies managed. Beyond it, a plan reads as a target.

      02The bendActuals against the forecast, at the join

      Monthly growth before today and after it. A kink exactly where the forecast starts is the hockey stick partners look for first.

      03MarginGross margin for the kind of business

      Revenue is valued by what is left after delivering it. The bar differs for software, fintech, marketplaces and hardware.

      04CashRunway, cash-out month and breakeven

      From the model's cash line, or built here from the raise and the monthly net. Partners want 18 to 24 months.

      05EfficiencyBurn multiple

      Cash burned for each dollar of new annual recurring revenue. The single number investors compare efficiency with.

      06TeamRevenue per head and the hiring plan

      A plan that triples revenue without hiring is missing the people who would deliver it.

      07AcquisitionCost and payback of a customer

      Marketing spend over new customers, set against what each customer earns at your margin.

      08The roundThe raise against rounds like it

      Measured from the rounds we hold: seed rounds over two years had a median of $3.5M.

      How it works

      From a spreadsheet to the questions, in your browser

      1. 1Drop the file

        Excel, CSV or a Sheets export. Your browser opens it; nothing is sent.

      2. 2Rows are matched

        Revenue, costs, cash, headcount, found by their labels. Fix any guess.

      3. 3The checks run

        Eight rules of thumb, each with the figure behind it.

      4. 4Questions come back

        What a partner will ask, and what to have ready.

      Other checks

      Model ready. Is the rest?

      The Fundability Test scores the whole raise against rounds like yours, and Deck Tracking shows which slides investors read.

      Q&A

      Is my model uploaded?

      No. The file is opened by your browser and read there; nothing about it is sent to Millionrounds or anyone else. Close the tab and it is gone. The only data that comes from our side is the round sizes it is compared with.

      Does an AI read it?

      No. The checks are arithmetic and stated rules of thumb, the same ones partners use, so each question shows the figure that raised it. Where a rule is a rule of thumb, the page says so.

      What formats work?

      Excel (.xlsx and .xls), CSV, and anything that exports to them: Google Sheets, Numbers, LibreOffice. The model needs a row of periods (months, quarters or years) above its numbers, which almost every model has.

      It picked the wrong row for revenue.

      Rows are matched by their labels, which is a guess. Under "What we read" every line has a list of all the rows found in the model: pick the right one and everything recalculates.

      Which month counts as today?

      The first period dated this month or later is taken as the start of the forecast; everything before it is treated as actuals. Change it under the settings if your model is laid out differently.

      Is this advice?

      No. It is a rehearsal: the questions a partner is likely to ask, so the answers are ready before the meeting. A good answer beats a perfect model.