After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.
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After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.
From Side Project to Series B: How Learning Led to Product-Market Fit
Fund/Build/Scale
36 minutes
2 months ago
From Side Project to Series B: How Learning Led to Product-Market Fit
Dan Lee co-founded what would become Nooks while on leave from Stanford. He wasn’t solving sales. He was exploring remote collaboration during the pandemic.
But when they noticed that some of his most active users were in sales development — and that investors were starting to reach out — he followed the signal.
Today, Nooks is a sales AI platform used by teams at Seismic, Fivetran, and Modern Health, with $70 million in funding from Kleiner Perkins, Lachy Groom, and others.
In this episode, we talk about how Nooks evolved from a virtual office for remote collaboration into a fast-growing AI sales assistant platform. Dan shares what it’s like to raise a $43M Series B after an unplanned Series A, why he believes sales needs AI assistants, not agents, and how he built conviction in a space he had no background in.
If you’re an early-stage founder wondering how to navigate a pivot, build for an industry you’ve never worked in, or generate investor pull instead of push, listen in.
RUNTIME 36:32
EPISODE BREAKDOWN
(3:01) “ It started as a project, obviously became a company.”
(5:13) “ Everyone here is smarter than me in some way.”
(5:46) Which early signals indicated Nooks could be more than a side project?
(8:01) “ And then, investors approached and said, ‘oh, you should raise some money.’”
(10:11) “ I think it's a misconception to think that in the early days it's hard to do much without raising money.”
(11:15) Pivoting Nooks from a virtual collaboration platform to serving sales teams.
(14:26) “ At the time, it felt more like a focus than a pivot.”
(16:56) “ Coming from an engineering background, it's easy to think, ‘oh, sales, that's like a dirty job.’”
(20:50) “ We've been fortunate to have a very strong feedback loop with our users.”
(22:20) If you don’t have domain expertise, “ build a mental model of what is true north in terms of product value.”
(23:22) Nooks’ work culture is underpinned by two values: “ask why,” and “earn customer love.”
(26:25) Customer satisfaction ≠ Customer delight
(30:36) Why Nooks is building AI assistants, not AI agents.
(32:41) When it comes to hiring, Dan looks for people with “motivations that align well with Nooks.”
(34:39) One question Dan would have to ask a CEO if he were interviewing for a job with an early-stage startup.
LINKS
Dan Lee
Nooks
Nikhil Cheerla
Rohan Suri
Nooks raises $43M Series B from Kleiner Perkins and launches AI Sales Assistant Platform
Forbes 30 Under 30 AI
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Thanks for listening!
– Walter.
Fund/Build/Scale
After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.