Ive done research and unsure which route would be better, VC or Angel.
Sector: IT / Software Services
Expected Annual Gross Potential: $60 million +
New Idea: No, however new way in which it will be presented and who it will be marketed to. It will be marketed to consumers whereas most in this industry target businesses.
Average Expected sale per customer: $30/yr
Recurring revenue model: Yes
Cost to acquire customer: $30 "first year will be a wash"
The following has been completed:
The initial capital needed will be used to build out the systems which will cost around $500k between a couple employees and the licensing / fees for the systems to be built.
Once systems have been built $10 million be needed to hire on staff, business expenses and advertising.
So is it better to search for an Angel, VC or both?