Dealum (or back then Startup Includer) was created by Rein Lemberpuu and Rain Kivisik.
Back in 2010 when Rein Lemberpuu and Rain Kivisik started investing in startups and had to listen to lots of pitches in order to make their investment decisions. What they soon found out was that the data they had gathered was rather hectic and quite different for each startup - from some, they had asked about exit strategy, some about founders relationship or drilled down on KPIs and financials. Such an approach will not result in a good investment strategy and execution.
To solve this, Rein and Rain created a simple checklist of topics to cover with founders and after gave them feedback so that the startup could also learn what investors are thinking about them.
Rein joined EstBAN which back then was using Gust for investment deal-flow management. Meanwhile, Dealum’s checklist of questions had developed into a proper process with customizable funnel steps, multi-staged voting. And since the investors were not pleased with Gust, they switched to Dealum which was then adjusted for EstBAN’s needs, and from there on the focus became to become the best tool for angel groups and networks.
Fun fact! At some point Funderbeam was using Dealum funnel because they hadn’t yet developed a filtering system for themselves.
In 2017 Rein and Rain were the most active angel investors in the Baltics and took part in the Slush pitching syndicate. But handling the evaluation of 2000 startups in excel was a nightmare both to Slush and to investors. Dealum made them a special pitching competition management tool that helped to evaluate 2000 startups with 50 jury members in just a couple of weeks. Later this separate tool was built into Dealum as we know it today. Global Startup Awards has been voting thousands of startups over quite many years using the same high-volume evaluation system.
Now, Dealum has just rebranded and is moving towards being the #1 software for startups and startup investors all around the world in the early stage of the startup life cycle.