Guide
How to write an investor update (with a template)
A good monthly update fits on one screen, tells the truth and asks for specific help. Writing it every month is easier than it looks if you always use the same structure.
The problem: the update slips every month
You know you should send it, but pulling the numbers together takes an afternoon: revenue in one tool, collections in another, pipeline in your inbox and the month's decisions scattered across minutes and chats. So it slips, then you skip a month, and when you finally write it looks like you only get in touch when you need money.
Investors don't expect a perfect report. They expect regularity, honesty and to know how they can help. Consistency builds more trust than any single number.
How it works with Tessa
- 1
Connect your sources
Holded for revenue and collections, Stripe for MRR (both in beta), and your email and meetings for the pipeline.
- 2
Ask for the draft
In Investors, Tessa prepares the update with the month's numbers and the key decisions from meetings you attended.
- 3
Add your read
Check the numbers, add what only you know (learnings, asks) and adjust the tone.
- 4
Send it or automate it
You send it. If you like, a routine prepares the draft every month on the same date.
What you get
- Numbers without diggingRevenue, collections, MRR and pipeline gathered into one draft.
- ConsistencyA draft ready every month makes it easy never to skip one.
- Admins onlyThe Investors section and its figures are visible only to owners and admins.
- You have the final sayNothing is sent without your review.
What a good update looks like
Picture an investor with ten portfolio companies and two minutes to read yours. They need to know how you're doing, what changed and whether they can help. Everything else is secondary.
- Short: readable in two or three minutes.
- Always the same structure, so months can be compared.
- The same metrics every month, even when they look bad.
- Specific asks: intros, candidate profiles, advice.
- Sent on a fixed date, for example in the first week of the month.
A monthly update template to copy
Paste this structure into your email and fill each block with two or three lines:
- Subject: [Company] · [Month] [Year] update
- Three-line summary: how the month went, the best thing and the biggest worry.
- Metrics: revenue or MRR, growth vs last month, cash in the bank, monthly burn and runway in months.
- Wins: two or three milestones (clients, launches, hires).
- Challenges: two or three problems and what you're doing about them.
- Key decisions this month and why.
- Priorities for next month (three at most).
- Asks: “we're looking for intros to retail procurement leads”, “do you know anyone who has built sales in Portugal?”.
- Thanks to whoever helped last month.
Which metrics to include at each stage
Pick a few and stick with them. Changing metrics every month looks like you're hiding something.
- Pre-revenue: active users, customer conversations, pilots running, cash and runway.
- SaaS with revenue: MRR, new and churned customers, net new revenue, failed payments, cash and runway.
- Services or ecommerce: revenue, gross margin, outstanding receivables, orders or repeat customers.
- In every case: month-end cash and runway at the current burn rate.
How to share bad news
Investors would rather hear it from you, and early. A problem shared in time, with a plan, builds trust; one they discover late does the opposite. Use a simple structure: what happened, why you think it happened, what you'll do and whether you need anything from them.
Example: “We lost our second-largest customer. Their reason: they needed an integration with their ERP and we don't have one. We've spoken to five other customers and three need the same thing, so we're prioritising it next quarter. If you know anyone who has integrated with that ERP, it would help a lot.”
Mistakes to avoid
The most common problems with updates aren't about the numbers but about the format:
- Only sending it when there's good news or when you need money.
- Switching metrics from month to month.
- Long attachments instead of a readable email.
- Asking for nothing: investors want to help, but they need to know how.
How Tessa automates it
In the Investors section, available to admins only, Tessa prepares a draft update with revenue and collections from Holded, MRR, new customers, churn and failed payments from Stripe, the state of your Sales pipeline and the key decisions from the minutes of meetings you took part in.
You add what isn't in any system (your read of the month, learnings, asks) and send it. For effortless consistency, create a routine such as “on the first Monday of each month, prepare my investor update” and the draft will be waiting for you.
What Tessa reads for each person stays private, your data is stored in the EU and nothing goes out without your approval.
Frequently asked questions
How often should you send investor updates?
Monthly is the most common rhythm for early-stage startups; some move to quarterly as they grow. What matters is choosing a cadence and sticking to it.
What is runway and how is it calculated?
The number of months the company can keep operating with its current cash. Divide cash in the bank by net monthly burn (expenses minus revenue).
Should small investors get the update too?
Yes. Angels and small investors are often the most helpful with intros and advice, and the update is the easiest way to keep them engaged.
Does Tessa send the update to my investors?
No. Tessa prepares the draft and you decide whether and when to send it. Emails to people outside the company never go out without your approval.
Who can see the update's figures in Tessa?
Only the company's owners and admins. And decisions are taken only from minutes of meetings you attended.
Keep reading
- FeaturesYour investor update, with the numbers already inTessa drafts your investor update with revenue, collections, MRR, pipeline and key decisions already filled in. You review it and send it.
- FeaturesA sales pipeline that builds itselfTessa builds your pipeline from your email and meetings, flags deals going cold and drafts the next follow-up for you. Try it free for 14 days.
- FeaturesTessa takes the notes, assigns the work and sends the recapTessa takes notes in your meetings, writes the minutes, assigns each action item to its owner and sends the recap to attendees. Try 14 days free.
- GuidesBank reconciliation for small businesses: what it is and how to do itWhat bank reconciliation is, how often to do it and how to match bank transactions to invoices step by step, plus the tricky cases and how to handle them.
- GuidesHow to follow up with clients without a CRM (and not lose any of them)How to follow up with clients and leads without a CRM: a few stages, a follow-up cadence, email templates and the signs a deal is going cold.
What does your team look like?
Same AI for both. Where you start is what changes.
- Best fit for this page
Startups
5 to 30 people
Grow without losing the thread
Tasks from email and Slack, follow-ups, sales and investors, without everything landing on the founders.
Companies
30 to 250 people
What gets decided gets done
Minutes and tasks from every meeting, commitments that get followed up and a pulse per team, without watching anyone.
Prepare this month's investor update with Tessa. Start free.
Start freeFree plan for teams of up to 3 people. Anything that leaves the company waits for your approval.