# REV.health — Seed Raise Checklist ($2–5M)

Status key: ✅ have it · 🔨 being built now · ☐ to do

## 1. Corporate & Legal Foundation
- ☐ Delaware C-Corp (investors require it; convert if currently LLC)
- ☐ Cap table (Carta or Pulley) — founders, option pool (10–15% pre-money), any advisors
- ☐ Founder stock purchase agreements w/ 4-yr vesting, 1-yr cliff, 83(b) elections filed (30-day deadline!)
- ☐ IP assignment agreements from everyone who touched the PRD/code (incl. contractors)
- ☐ Trademark search + filing for chosen name (rev.health is a registered domain — confirm you own it)
- ☐ Startup counsel engaged (Cooley/Gunderson/Wilson Sonsini all have standard deferred-fee packages)
- ☐ Choose instrument: SAFE (post-money, YC standard — fastest) vs. priced round (likely at $3M+)

## 2. The Pitch
- 🔨 Pitch deck (~14 slides) — problem, why-now window, product, moat, competition, market, business model, traction, roadmap, team, ask
- 🔨 One-pager / exec summary (the email attachment that gets the meeting)
- ☐ 2–3 min demo video (you have demo mockups + PMR design prototype — screen-record a narrated walkthrough)
- ☐ Founder story / "why us" narrative — domain credibility matters enormously in health IT
- ☐ FAQ prep doc: "Why won't Epic/Athena crush you?", "ONC cert timeline risk?", "Why now?"

## 3. Financial Model
- 🔨 5-year proforma (.xlsx): hiring plan, dev costs, per-provider SaaS + RCM % revenue, burn, runway, use of funds
- ☐ Unit economics one-liner: CAC, LTV, payback months, gross margin (SaaS vs RCM blended)
- ☐ Use-of-funds slide math must tie to the model (engineers, ONC/Drummond cert, Surescripts, design partners)
- ☐ Scenario tabs: base / conservative / upside

## 4. Data Room (Google Drive or Notion)
- ✅ PRD (prd-v2) — exceptionally deep; investors will be impressed
- ✅ EMR competitive analysis (emr-compare-v2) incl. Athena/NextGen demo notes
- ✅ Regulatory matrix (15 frameworks, timelines, posture)
- ✅ Architectural decisions register
- ☐ Cert-path memo: ONC §170.315 via Drummond (9–12 mo) + Surescripts EPCS (9–12 mo) — both on critical path, both fundable milestones
- ☐ Cap table + prior agreements
- ☐ Design-partner LOIs (see §6 — biggest gap)
- ☐ Team bios / resumes

## 5. Product & Traction
- ✅ 10-module PRD, demo mockups (9 screens built), PMR React prototype
- ☐ Finish the 5 highest-impact mockups for the demo: AI scribe flow, RCM charge→denial→appeal, eligibility card, patient portal, eRx
- ☐ Hosted clickable demo at a public URL (you already have netlify.toml — deploy prd-v2 + demo behind a password)
- ☐ Decide the seed-scope MVP story: you can't build all 10 modules with $3M — lead with scribe + scheduling + eligibility + RCM core

## 6. Market Validation (the gap that kills EMR seed rounds)
- ☐ 3–5 design-partner LOIs from independent primary-care practices (1–5 clinicians) — even non-binding letters transform the round
- ☐ 15–20 documented clinician discovery interviews (pajama-time hours, denial rates, current EMR spend)
- ☐ TAM/SAM/SOM with sources: ~100K+ independent primary care practices; bottom-up = practices × providers × $/provider/mo
- ☐ Specialty expansion slide (your "high-paying specialties" angle): ortho, cardio, GI as Phase-2 ACV expansion

## 7. Regulatory & Compliance Story
- ✅ Regulatory matrix done
- ☐ One-slide cert roadmap: Drummond ONC cert + EPCS started at P0, SOC 2 Type I → II, HIPAA posture, TEFCA via Kno2
- ☐ Budget line items in proforma: ONC cert (~$150–300K all-in), Surescripts/Drummond EPCS, SOC 2 (~$30–60K), compliance counsel

## 8. Team
- ☐ Identify the clinical co-founder/CMO advisor if you don't have one (named MD advisor minimum)
- ☐ Advisory board: 1 RCM/billing operator, 1 health-IT regulatory expert, 1–2 practicing PCPs
- ☐ Hiring plan for first 4 engineers (matches proforma)

## 9. Investor Process
- ☐ Target list: 40–60 names — health-IT seed funds (Rock Health, 7wire, Flare, AlleyCorp, Town Hall, OTV, Max, a16z Bio+Health seed) + angels who are physicians/EMR operators
- ☐ Warm-intro mapping (LinkedIn overlap per fund)
- ☐ CRM tracker (Airtable/Notion): firm, partner, intro path, stage, next step
- ☐ Practice pitch 5× with friendlies before first real partner meeting
- ☐ Target: all first meetings within a 2–3 week window to create parallel momentum

## 10. Web Presence
- 🔨 Landing page (waitlist capture + investor-credible)
- ☐ Domain decision (see domain report) + DNS, email on the domain (Google Workspace), founders@ alias
- ☐ LinkedIn company page matching the site
- ☐ Founder LinkedIn cleanup — investors check it before the first call

## Suggested sequence (next 6 weeks)
1. **Wk 1:** Entity/legal cleanup, domain decision, deck + model + site (done this week — being built now)
2. **Wk 2–3:** Design-partner outreach (aim 5 LOIs), demo video, finish key mockups
3. **Wk 3–4:** Data room assembly, FAQ prep, pitch practice
4. **Wk 4–6:** Investor outreach in one concentrated wave

*Not legal or financial advice — have counsel review instruments and terms.*