BoxedUp’s $2.3M Round Seed Launch Pad – TechCrunch

back in march, I wrote about how BoxedUp pivoted to enable sharing of high-end video production equipment and its $2.3 million seed round. At that time, the company’s founder, Donald Boone, stood out, so when I started taking the pitch deck apart, I knew I wanted to feature BoxedUp in one of the installments.

Today we’re going to take a closer look at the pitch deck that helped Boone raise the company’s first round of institutional capital.

Thanks to BoxedUp for sharing a completely unredacted deck with us – all the details the company used to raise the money are there, making it a particularly representative deck.


We’re looking for more unique pitch decks to take down, so if you want to submit your own, here’s how you can do it.


Slides in this deck

  • 1 — Sliding Cover
  • 2 — Team Highlights Slide
  • 3 — Business Cycle Slide
  • 4 — Market size slide
  • 5 — Problem slide 1
  • 6 — Slide of problem 2 (shows the price of the equipment)
  • 7 — Issue Slide 3 (Issue experienced by team owners: underutilized premium gear)
  • 8 — Issue Slide 4 (Issue experienced by creators: poor rental options and high price)
  • 9 — Solution slide
  • 10 — Go-to-Market Strategy
  • 11 — Slide “Previous Clients”
  • 12 — Target audience slide
  • 13 — Business Model Slide
  • 14 — Traction slip
  • 15 — Projection Slide
  • 16 — Competition Slide
  • 17 — Market size slide
  • 18 — Slide cover (“Where BoxedUp is going”)
  • 19 — Roadmap Slide
  • 20 — Team Slide
  • 21 — End Slide
  • 22 — Fundraising and Use of Funds Progress Slide

three things to love

BoxedUp quickly demonstrates a deep understanding of the market you’re in and makes a compelling case for why high-end video and audio equipment makes sense.

As the company describes in its presentation (slide 6), a full set of video equipment for a high-end shoot can cost $100,000, about the same as a high-end luxury sedan. You wouldn’t buy a convertible for a weekend trip; You’d rent one, so there’s no reason you shouldn’t when shooting a music video either.

An excellent illustration of market size from the bottom up

[Slide 12] BoxedUp notes that it has a large beachhead market. Image credits: in box

On its 12th slide, the company is doing something really smart: it describes its core audience. That’s the first audience the company plans to target with its marketing efforts. Without specifying, it shows that it has huge annual market potential (12,000 cinematographers executing 20-50 projects per year on a budget of $15,000 to $1 million), with annual spend ranging from $3.6 billion on the extreme low and $600 billion at the high end. The end.

We can talk about whether those numbers are realistic and how much of that budget BoxedUp is likely to get, but it tells me one thing for sure: If the founder can defend those numbers in a market, he has a venture-scale deal in his business. hands.

From inception to expansion

[Slide 13] Markets are notoriously tough, but the company gets ahead of tough questions by tackling the transition head-on. Image credits: in box

One of the really big challenges with markets is priming the bomb. Turo, for example, would be useless if he had no inventory, but he would be equally useless if he had no one to rent his cars.

Breaking even is notoriously difficult. Too much inventory and equipment owners fret that no one is willing to rent anything. Too many tenants, and that side of the equation falls apart, because it gets too expensive (landlords are likely to jack up the price), or because there’s no equipment available.

It’s a tricky dance, but BoxedUp has an elegant solution: solve the supply side of the market by buying a bunch of gear that you can rent. That means you can focus your marketing efforts on your tenants and completely control the experience. Once you get traction, you can communicate what you learned to the supply side along with data on what types of equipment customers want and are willing to rent.

Traction, market segmentation and storytelling

[Slide 14] Rapid revenue growth and smooth growth in its two business models paint a promising picture. Image credits: in box (Opens in a new window)

I rarely present three slides in a row in these teardowns, but I wanted to highlight how slides 12, 13, and 14 together tell an important part of the story.

Slide 12 explains the size of the market for your initial customer; slide 13 shows how the company is tackling one of the most difficult problems of a market economy (imbalance between supply and demand); and slide 14 shows that the strategy is working. There is a 50-50 split between owned rentals (ie BoxedUp’s own team on the platform) and third-party rentals (ie marketplace rentals).

Of course, these numbers reflect business in September and we don’t know what’s happened since then, but if the company managed to maintain its growth trajectory, I’d be very surprised if I didn’t end up writing about the company raising a Monster Series A round very soon.

Getting storytelling and narrative arcs right is crucial in launches, and these slides do three things extremely well: There is very little content on the slides, so there is no confusion about what the founders want you to see; they tell a clear and unambiguous story; and all three slides work in perfect concert.

In the rest of this teardown, we’ll take a look at three things BoxedUp could have done better or done differently, along with their full presentation!

Three things that can be improved

BoxedUp successfully answers some of the most difficult parts of a market start-up story in its presentation and deserves high praise for that part of the presentation.

However, other aspects of his deck were a bit more confusing to navigate.

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