Send a short monthly email: headline metrics, highlights, lowlights, what you are working on next, and specific asks. Keep it the same format every month, include numbers even when they are bad, and send it to current investors and promising prospects. Consistency is what builds trust.
- Same format, every month, on the same day.
- Lead with three to five key metrics and their trend.
- Include lowlights: honesty builds credibility.
- End with specific asks: intros, hires, customers.
- Send to prospects too: it turns "too early" into a relationship.
What is the template?
Subject: [Company] update, [Month Year]: [one-line headline]
- Headline: one sentence on the month.
- Metrics: 3–5 numbers with month-over-month change.
- Highlights: 2–3 wins.
- Lowlights: 1–2 problems and what you are doing about them.
- Next month: top priorities.
- Asks: specific intros, hires or advice.
Who should receive it?
| Audience | Why |
|---|---|
| Current investors | Obligation and follow-on support |
| Prospective investors who said "too early" | Shows progress over time |
| Advisors and close supporters | Intros and help |
What should you avoid?
- Changing metrics every month.
- Skipping bad months.
- Including offering terms when sending to non-investors; check the rules for your round. See what you may say publicly.
For which numbers to track, see traction metrics before revenue. For the full process, how to raise a pre-seed round.
What does a full example look like?
Subject: Lumen update, September 2026: first paid pilots signed
Headline: We signed our first two paid pilots and cut onboarding time in half.
| Metric | August | September | Change |
|---|---|---|---|
| Weekly active teams | 38 | 52 | +37% |
| Week-4 retention | 41% | 48% | +7 pts |
| Paid pilots | 0 | 2 (€1,500/month each) | new |
| Runway | 13 months | 12 months | — |
Highlights: two paid pilots with logistics companies; onboarding now takes 9 minutes instead of 20. Lowlights: our first sales hire declined the offer; we are re-running the search. Next month: convert one pilot to an annual contract, ship the reporting module. Asks: introductions to heads of operations at mid-sized logistics firms in Germany or the Netherlands.
Why do updates help you raise?
An investor who reads six consecutive monthly updates has watched you execute. When you open your next round, you are no longer a cold pitch; you are a company they have followed. Many follow-on cheques and introductions come directly from updates, because the asks section gives readers a concrete way to help.
Updates also discipline the team. Choosing the same five numbers every month forces you to decide what matters and to notice when it stops moving.
How do you build the habit?
- Pick a fixed day, such as the third working day of each month.
- Keep a running document during the month for highlights and lowlights.
- Pull metrics from one dashboard so the numbers stay consistent.
- Write in 30 minutes; do not polish it into a press release.
- Track replies: who offered help, who asked questions, who went quiet.
Keep the tone factual. Overselling in updates backfires when the next month's numbers arrive.
Frequently asked questions
How often should I send investor updates?
Monthly is the most common cadence for early-stage startups.
What should an investor update include?
Key metrics with trends, highlights, lowlights, next priorities and specific asks.
Should I send updates to investors who passed?
Yes, to those who showed interest. Regular progress can turn a pass into a later investment.
How long should an investor update be?
Short enough to read in two minutes.
Let investors find what you're building.
OBridge is an early-access discovery network for founders and investors. Post your build, share your progress, and let verified investors mark you Investable — a private, no-amount signal of interest, not an offer or a commitment.
Join the waitlist →Sources and further reading. Y Combinator Library.
Educational material, not legal, tax or investment advice. Rules and figures change; confirm with qualified counsel or a tax adviser in your jurisdiction before acting. Last updated October 6, 2026.