When you're an early-stage founder, it's easy to fall into the trap of spending months perfecting your pitch deck, collecting VC intros, and chasing capital. But what if that entire approach is backward? What if the traction you need is already waiting, not in investor meetings, but in real conversations with the people you’re building for?
That’s exactly what David DellaPelle, co-founder of Dune Security, learned the hard way.
On the first episode of Inside the Round, Bamboo Crowd’s new podcast spotlighting pre-seed to Series A founders, David shares how he raised $8M by doing the one thing most founders avoid early on: speaking directly to customers. In this conversation with host Helena Fogarty, he breaks down what most founders get wrong about fundraising, how he validated the idea for Dune Security, and why traction starts with building, not pitching.
WHY SOME STARTUPS GET STUCK TALKING TO INVESTORS
Early-stage founders often waste their best energy trying to “sell the vision” to VCs, without checking if the problem they’re solving is real. David admits he fell into the same trap. Over the course of a year, he met with more than 200 investors.
“We got 196 no’s. Because we didn’t have that ‘pedigree.’”
It wasn’t until he started speaking to buyers, CISOs in large enterprises, that things started to shift. Not just for his confidence, but for the product.
REAL VALIDATION STARTS WITH REAL CONVERSATIONS
Ideas don’t get validated in pitch meetings. They get validated when potential users say: “I need this.”
For Dune Security, those signals came fast. David spoke to 76 enterprise CISOs in three weeks - each conversation giving him clearer direction on what to build, what not to build, and how big the opportunity really was.
These weren’t cold outreach campaigns; they were strategic, high-signal discussions with the exact people who had the problem. That focus allowed the Dune team to bypass generic security awareness tools and start designing something better from day one.
FUNDRAISING GOT EASIER WHEN THE PRODUCT GOT BETTER
Those conversations didn’t just sharpen the product. They shifted the way David raised capital. When you’re not guessing at the problem, it’s easier to describe the solution. When you’re not searching for validation, it’s easier to say no to mismatched capital.
By the time they raised their $8M seed round, led by Toba Capital, Dune had real traction and a compelling narrative backed by customer demand.
“Ship product. Sell product,” David said, quoting one of his early mentors. “That’s it. That’s the job.”
WHAT FOUNDERS CAN LEARN
Too many founders delay real conversations with customers in pursuit of hypothetical capital. David’s story is a reminder that the fastest way to unlock both is to solve a real problem.
Talk to the people living the pain, not the ones predicting trends. Validate ideas early. Don’t be afraid to get 50 rejections if the 51st CISO tells you, "Where has this been all year?"
You’ll build better. You’ll fundraise smarter. And you'll stay focused on the right kind of momentum.
WANT MORE INSIGHTS LIKE THIS?
If you found David’s story helpful and want to hear more value-packed, unfiltered conversations from founders who’ve raised in the last 6 months, follow Bamboo Crowd. We sit down with the people building and backing the next wave of tech, and we keep it honest: no fluff, just real stories that help you make smarter moves.
🎧 Listen to the full episode of Inside the Round with David DellaPelle here: https://www.youtube.com/watch?v=5mTJObp6U1Y
Know a founder who should share their journey on the pod? Message us by filling up the form below. We’re always looking for sharp, early-stage voices who can help others push through the hard stuff and build what’s next.
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