Cami Tellez, Co-Founder of Parade, Shows Founders Why Advisors Matter

In April, Parade, the revolutionary underwear (now lingerie) brand founded by Cami Tellez and Jack DeFuria, closed on another $10mm, in a round led by Maveron.

Parade has had an impressive trajectory, led by a very impressive woman. Cami, the daughter of Columbian immigrants, was 21 when she dropped out of Columbia to launch Parade with Jack. Within a year she had raised $8mm, and within her first 2 years sold more than 1 million pairs of underwear (I am happy to say I bought a bunch early on and am in love, so excited to try the new bra!!).

In conversations with investors in Parade, what stood out to me was their confidence in the Founder herself.

Cami’s interest in venture started early, interning in the industry since she was 17. With a cold email, Cami had reached out a VC before she even had a business, and so began a 4-year relationship. Her reason for the email was to talk about some companies in the portfolio. Why the callback? Cami had clearly done extensive homework and sent very detailed questions in her email outreach.

Of course, market opportunity played a big part in the investment decision, but an investor in Parade said it was also about (1) trusting and believing in the founder, and (2) having very credible advisors and mentors vouch for her.

I am often asked by founders how to raise venture capital. How to make themselves more attractive and gain access. There is a lesson here.

Who’s Who of Advisors

As a first-time founder, having advisors that have built successful businesses before is invaluable. Even better if they have an expertise in your industry or business model.  You want experience that is recent, relevant, and relatable.

In Cami’s case, she has quite the roster of early investors and advisors. Namely, Neil Blumenthal, Co-Founder and Co-CEO of Warby Parker, Steph Korey and Jen Rubio of Away, along with the founders of Bonobos, and Casper.

These are the OGs of DTC and Parade is at the forefront of the second wave of e-commerce. Having founders that have been there and done that can help you navigate the challenges, open doors to their networks, offer strategic or tactical advice, and introduce you to potential hires, customers, partners, investors, and other advisors. 

Jack shared, “[w]orking with industry leaders and operators who have done it before has been extremely powerful for us. When we look at our vision for the category and where we see ourselves in the eCommerce landscape, where [our investors] brought categories online for the first time, we see our challenge as reimagining what a value brand looks like and distributing it through the internet.”

Advisors are indeed very powerful. One study found that startups with advisors raised 7x more capital and grew 3.5x faster.

Dog and Pony Show

Cami clearly had a very impressive roster. In fact, investors believed Cami’s ability to bring on such high profile, and highly sought-after advisors, spoke volumes about her and her abilities.

High-profile names are not always the best route because they have limited time and many people flooding their inboxes. Hence, why it spoke volumes. That isn’t to say that entrepreneurs that have built very successful businesses but lack the name recognition are not just as valuable.

On the flip side, often Founders fill their pitch decks with a list of the who’s who of advisors but VCs know that very often these advisors are not actually involved. They are not impressed.

In Cami’s case, her advisors were invested in her and her success. She had weekly calls with Neil Blumenthal. He supported her publicly, “[b]y building a value brand with a bold commitment to community, I see a future where Parade is the go-to underwear brand for all women. I am excited to be along for the ride.”

Talk about confidence in the brand and its co-founder and CEO. Clearly, he was bought in and when the time came for investors to make the call, he vouched for her.

Venture firms like to see track-records but when it comes to the young, hungry first-time founder, you can leverage the reputations of veteran entrepreneurs where the relationship is authentic and engaged.

It’s all about relationships. Clearly, Cami had spent 4 years nurturing a relationship with an investor that followed her story and growth, rooting for her all along. She had strong, real relationships with her advisors. She put the time in. She was thoughtful and intentional.  She is proof of the power of relationships.