What tool(s) should an angel group use to manage their dealflow? Gust (www.gust.com) is the dominant platform right now, and free. It has its own set of pros & cons. A friend of mine who recently launched an accelerator posed a fascinating question. Couldn’t we get 80-90% of the functionality we want by combining two free pieces of tech:
- http://www.angellist.com – already an entrepreneur-friendly and widely-adopted and modern platform for dealflow syndication and match-making.
- http://www.streak.com – a lightweight CRM tool that plugs seamlessly into GMail and was used by an accelerator to process nearly 1000 applications.
I’ve used both of these products and the thought of combining them is deeply intriguing.
- Still free
- Saves Entrepreneurs time (because almost all of them are using AngelList already, and those that aren’t arguably should).
- Gets our angels more actively engaged in AngelList, which would likely increase their beneficial interactions with other angels and entrepreneurs.
- For any angel with a GMail account already, they do not need a username and password.
- Using Streak is as easy as using your email, and because it is integrated would likely increase investor involvement.
- Many angels do not have GMail accounts. So for them we would need to give them special-purpose gmail accounts just for dealing with our angel group. This might be no more difficult than giving them an account on Gust, but then again it might prove a big barrier.
- Getting new applications from our website into Streak would require either a manual step or paying for code that will do this automatically for us.
I’m curious to hear what fellow angel group leaders & entrepreneurs think. Comments greatly welcomed!