Technology

The perfect pitch: This NEA partner says every founder should answer these 5 questions

Most founders eventually have to pitch venture firms in hopes of raising capital. Tiffany Luck, a partner at NEA, took the stage at TechCrunch’s All Stage event in Boston to answer how to craft the perfect one.

“I like to think of a VC pitch as your initial way for assessing founder-investor fit,” she told the crowd before diving into her presentation. One of the most important slides to have in a pitch is “The What,” she said, meaning, “‘The What’ are you building.” That’s followed by “The Why” you are the right person for the job and why you have a unique solution. But there’s another Why, too: “‘Why’ is now the perfect time to do it.”

Then there is “The Who,” she continued, “Who have you recruited to do this crazy thing with?” And finally, “The How.”

“How are you going to get there? How are you getting there today? How will you get there over time?” she said.

Then, of course, “some sense of numbers,” she added, saying that part depends on what state a company is trying to fundraise for — pre-seed, seed, Series A, and so forth. “These are just meant to be the fundamental basics.”

Setting the stage

As Luck explained, “The What” sets the stage, telling the investor what the problem is, how it affects people, followed by what solutions exist today and where lies room for disruption.

Showcasing a product demo during “The What” is a good idea, she said, and that a lot of investors love product demos. “If you think a picture is worth 100 words, I think a demo is worth 1,000 hours,” she said. “When you see the product, you actually get it quickly.”

Techcrunch event

San Francisco
|
October 27-29, 2025

Luck said there are two different “Whys” every founder should address. First, there is the deeper Why, where a founder goes into their origin story and explains their unique perspective on a solution.

Obsession is key here, she said, adding that investors want to see and understand that a founder is completely consumed by a problem and solution. This this passion is what will keep everyone motivated to keep building, she said.

Following this is the “Why now,” which means going into the market dynamics and readiness.

“It’s telling the story of why the market is ready for what you have or what you’re building,” she said.

The Why now leads into “The Who,” where the founder is expected to talk about the team they’ve assembled, how everyone’s skills complement each other, and why everyone is obsessed with the mission of the product.

“The shared conviction piece is really important,” Luck said. “It’s ‘how are you all envisioning the future together?’”

“The How,” is where a founder is supposed to talk about “milestones.”

Here, she said, investors want to know what the minimum viable product (MVP) is? Who are the early users ? And what feedback the product is getting from them so far?

“And again, explain where you are today. Where are you going? What have you learned?” she asked, listing off the questions.

Talking about pivoting, if necessary, is also good here.

Luck noted that she often talks to founders who pivoted early or at some point in their journey. It helps investors learn more about the early phases of a company, of “where not to go, what not to do, and it will help with the rest of the journey,” she said.

For the love of numbers

Finally, she weighed in on the importance of numbers.

“Investors do love numbers,” she said. “I think a lot of the important numbers also involve storytelling.” Here, investors want to know about the market size and any traction a product might have. “Why do customers love this product? Why do you imagine that it’s not only going to grow, but grow sustainably in a way that has great retention?”

She likes to see a company talk about how much cash it’s burning through, and what the runway looks like. The most important thing, though, is the ask: how much a founder is looking to raise this round and what they will do with the money.

All together, the Who, What, How, and (two) Whys serve as a starting point, helping founders as they go forth on the entrepreneurship journey.

“Founding a company is like extreme sports,” she said, likening it to climbing Everest in particular. “You’re going up on milestones, different camps. You’re encountering challenges, you’re weathering storms, and you know, eventually you’re trying to make it to the top, to the summit.”

Technology

The Case for Custom eLearning Platforms: Why Organizations Are Making the Switch

aloe vera plant on grey pot on table with MacBook Pro and iPad

The corporate eLearning market has exploded in recent years, growing over 800% since 2000. As the demand for eLearning continues to accelerate, more and more organizations are finding that off-the-shelf solutions cannot keep pace with their training needs. This has led many companies to make the switch to custom-built eLearning platforms tailored specifically for their requirements.

There are several key reasons driving the demand for customized eLearning tools:

Greater Flexibility and Scalability

Generic eLearning software packages often impose rigid constraints that limit their ability to adapt to an organization’s evolving needs. Meanwhile, the “one-size-fits-all” approach fails to support the personalized learning critical for employee development. Custom platforms provide flexibility to add and modify features to match ever-changing business goals. As companies scale training across global workforces, custom solutions built on cloud infrastructure can scale seamlessly to handle growing demand.

Deeper Integration Across Systems

Smooth integration with existing HR, LMS, and other business systems is critical for optimizing training workflows. However, off-the-shelf tools rarely integrate well, creating data and process siloes. Custom platforms can tightly integrate role-based learning paths with core business applications, sync user profiles, enable single sign-on, and more. This level of integration catalyzes more impactful training function.

Better Data and Analytics

Generic software severely limits access to data insights that drive improvement. Custom platforms unlock a trove of analytics on content consumption, learner progression, platform adoption, and real-time feedback. Integrated analytics dashboards and APIs allow businesses to derive deep visibility across the learner lifecycle. These insights help continuously enhance learner experience, target development gaps, and demonstrate direct training ROI.

Enhanced Learner Engagement

For modern learners accustomed to consumer-grade digital experiences, poor platform usability quickly erodes engagement. Custom designs allow companies to incorporate familiar features from popular apps and websites while optimizing for their audience. Adaptive learning approaches further personalize content to individual styles and needs. With modular component architecture, custom platforms stay on the cutting edge of new modalities like AR/ VR to captivate learners.

Brand and Culture Alignment

Off-the-shelf tools impose a generic and often disruptive experience that clashes with existing brand identity and culture. In contrast, custom platforms allow organizations to carry over familiar styling, voice, and workflow patterns. Consistency in experience preserves brand recognition while smoother onboarding leads to wider adoption across all employee groups. Over time, the platform can evolve alongside cultural changes as well.

While custom elearning tools require greater upfront investment, for enterprise training needs, the long-term benefits far outweigh the costs. The ability to mold platforms to current and future needs results in greater leverage from learning spend.

As businesses demand ever-more from their learning technology, custom solutions provide the agility needed for true scale. Rather than forcing training functions into the constraints of generic software, custom elearning development keeps the focus on nurturing talent and capabilities. For any organization looking to drive workforce transformation through learning, custom elearning represents the way forward.

Technology

Pintarnya raises $16.7M to power jobs and financial services in Indonesia

Pintarnya, an Indonesian employment platform that goes beyond job matching by offering financial services along with full-time and side-gig opportunities, said it has raised a $16.7 million Series A round.

The funding was led by Square Peg with participation from existing investors Vertex Venture Southeast Asia & India and East Ventures.

Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan founded Pintarnya in 2022 to tackle two of the biggest challenges Indonesians face daily: earning enough and borrowing responsibly.

“Traditionally, mass workers in Indonesia find jobs offline through job fairs or word of mouth, with employers buried in paper applications and candidates rarely hearing back. For borrowing, their options are often limited to family/friend or predatory lenders with harsh collection practices,” Henry Hendrawan, co-founder of Pintarnya, told TechCrunch. “We digitize job matching with AI to make hiring faster and we provide workers with safer, healthier lending options — designed around what they can reasonably afford, rather than pushing them deeper into debt.”

Around 59% of Indonesia’s 150 million workforce is employed in the informal sector, highlighting the difficulties these workers encounter in accessing formal financial services because they lack verifiable income and official employment documentation.

Pintarnya tackles this challenge by partnering with asset-backed lenders to offer secured loans, using collateral such as gold, electronics, or vehicles, Hendrawan added.

Since its seed funding in 2022, the platform currently serves over 10 million job seeker users and 40,000 employers nationwide. Its revenue has increased almost fivefold year-over-year and expects to reach break-even by the end of the year, Hendrawn noted. Pintarnya primarily serves users aged 21 to 40, most of whom have a high school education or a diploma below university level. The startup aims to focus on this underserved segment, given the large population of blue-collar and informal workers in Indonesia.

Techcrunch event

San Francisco
|
October 27-29, 2025

“Through the journey of building employment services, we discovered that our users needed more than just jobs — they needed access to financial services that traditional banks couldn’t provide,” said Hendrawan. “We digitize job matching with AI to make hiring faster and we provide workers with safer, healthier lending options — designed around what they can reasonably afford, rather than pushing them deeper into debt.”

Pintarnya Founders Press Kit — image credits: Pintarnya (Founders of Pintarnya Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan)

While Indonesia already has job platforms like JobStreet, Kalibrr, and Glints, these primarily cater to white-collar roles, which represent only a small portion of the workforce, according to Hendrawan. Pintarnya’s platform is designed specifically for blue-collar workers, offering tailored experiences such as quick-apply options for walk-in interviews, affordable e-learning on relevant skills, in-app opportunities for supplemental income, and seamless connections to financial services like loans.

The same trend is evident in Indonesia’s fintech sector, which similarly caters to white-collar or upper-middle-class consumers. Conventional credit scoring models for loans, which rely on steady monthly income and bank account activity, often leave blue-collar workers overlooked by existing fintech providers, Hendrawan explained.

When asked about which fintech services are most in demand, Hendrawan mentioned, “Given their employment status, lending is the most in-demand financial service for Pintarnya’s users today. We are planning to ‘graduate’ them to micro-savings and investments down the road through innovative products with our partners.”

The new funding will enable Pintarnya to strengthen its platform technology and broaden its financial service offerings through strategic partnerships. With most Indonesian workers employed in blue-collar and informal sectors, the co-founders see substantial growth opportunities in the local market. Leveraging their extensive experience in managing businesses across Southeast Asia, they are also open to exploring regional expansion when the timing is right.

“Our vision is for Pintarnya to be the everyday companion that empowers Indonesians to not only make ends meet today, but also plan, grow, and upgrade their lives tomorrow … In five years, we see Pintarnya as the go-to super app for Indonesia’s workers, not just for earning income, but as a trusted partner throughout their life journey,” Hendrawan said. “We want to be the first stop when someone is looking for work, a place that helps them upgrade their skills, and a reliable guide as they make financial decisions.”

Technology

OpenAI warns against SPVs and other ‘unauthorized’ investments

In a new blog post, OpenAI warns against “unauthorized opportunities to gain exposure to OpenAI through a variety of means,” including special purpose vehicles, known as SPVs.

“We urge you to be careful if you are contacted by a firm that purports to have access to OpenAI, including through the sale of an SPV interest with exposure to OpenAI equity,” the company writes. The blog post acknowledges that “not every offer of OpenAI equity […] is problematic” but says firms may be “attempting to circumvent our transfer restrictions.”

“If so, the sale will not be recognized and carry no economic value to you,” OpenAI says.

Investors have increasingly used SPVs (which pool money for one-off investments) as a way to buy into hot AI startups, prompting other VCs to criticize them as a vehicle for “tourist chumps.”

Business Insider reports that OpenAI isn’t the only major AI company looking to crack down on SPVs, with Anthropic reportedly telling Menlo Ventures it must use its own capital, not an SPV, to invest in an upcoming round.