When did you apply to GAIN? Why did you apply for funding through GAIN? 

In early February 2020, we applied to pitch at a GAIN pitch event and were accepted to pitch at the April event on February 18th, 2020. I am a big believer in building networks and that no founder builds in isolation. I also believe that we should look at the different networks we belong to and lean on them for help. Knowing that Julie Kennedy, my first employee, was a graduate of Georgetown made that network a logical group to contact. What I found was that the network was stronger than I even anticipated, and we have been so appreciative of the level of attention to detail throughout the process.

In your pitch, you say that you are most proud of Trusty.care’s team, specifically how their diverse backgrounds, both personal and professional, shape their unique perspectives on our healthcare system. How have your team’s diverse perspectives impacted your experience with the investing process?

Having a diverse team has opened up different networks through which we have been able to apply for funding, and that would have not been available to us if we had a more traditional team. Since I, Joseph, am the CEO and co-founder, and am also trans and from Israel, we have been able to tap into networks specifically for LGBTQ+ founders and Israeli founders. Having senior leadership that are women has allowed us to apply for funding from groups that specifically are targeting investments in female core teams. In general, I have found that by looking for the networks that are excited about supporting diversity you can sometimes separate yourself from other companies. I think the other way that having a diverse team has impacted our experience with the investing process is that we are able to quickly see if investors are looking to invest only in teams that meet classic parameters (white, males, Silicon Valley, Stanford grads) or that are interested in looking at underestimated founding teams.

GAIN invests in early-stage startups, so its Angels are largely focused on the entrepreneurs themselves. How did your team’s diversity impact your investing experience with GAIN? Can you think of a time when it helped your team come to a better deal?

When we moved into diligence with GAIN, it was clear to me and to the rest of my team that our diversity was not going to be a stumbling block for the GAIN investors. Although most investors think the startups are the ones applying for the funding, it is my belief that it is a two-way street and I am always looking out for red flags that could indicate that an investor is not a good fit for us. One way I do that is by reviewing investors to see how they respond to the diversity of our team. For instance, Julie Kennedy, our COO, often leads the diligence with investors. If I find that the investors only want to talk to the male members of our team, I know they won't be a good fit for us because Julie is usually the smartest person in the room. She also has led high-level negotiations for much larger companies internationally, so whenever we as a company need someone who will push hard for us to get the best deal, Julie takes the lead. It is not so much that our diversity of race and gender are improving our deals, it is because we are not assuming that the best person to lead a difficult negotiation is male or even the CEO that leads us to getting better deals.

What would you say to Hoya alumni who are considering pitching to GAIN? 

I have raised capital for the last 20 years and have spoken to thousands of investors. Our experience with GAIN revealed a thoughtful, fair process, and we came out a better company, even just because of the diligence process. I do recommend that you know your industry and your business really well because GAIN will come arrive with pointed questions and you need to be able to answer them clearly. Although they are angels, there is an expectation that you have your diligence info in order and that you have a strong handle on your business. I personally think that this is to the benefit of the companies and it will improve your business. We are so grateful for the support of GAIN and we highly recommend applying to pitch!