We built 23mile for the venture-backed founders and teams who find themselves at a crossroads. Maybe you’ve raised capital and achieved a lot, but the next big goal (the next funding round, reaching profitability, reigniting growth) is looking uncertain. 

We’re here for startups in that situation, companies that aren’t “overnight unicorns” but have real potential worth fighting for. 

Our support also extends to their stakeholders: the investors who want to see a return and the employees who want to see their hard work turn into a lasting company or a positive exit. In short, if you’re part of a startup that has hit a rough patch or a plateau and you refuse to just give up, 23mile is for you. We partner with you to find a path forward, whether that means a turnaround plan, a strategic sale, or something in between.

Think of us as a blend of an investor, an advisor, and a partner who rolls up their sleeves with you. Traditional venture capitalists tend to focus on hyper-growth; if you’re not hitting astronomical targets, they often can’t or won’t continue to support you. 

We’re different: we provide capital and hands-on restructuring expertise when things aren’t perfect, with the goal of steering your company toward sustainable success (not just chasing the next growth spurt). And unlike a typical investment banker who might show up only to broker a deal when you’re selling, we get involved earlier – evaluating your business, helping fix what’s broken, and preparing multiple options (from raising bridge funding to a potential M&A deal).

First, take a deep breath and remember you’re not alone. Many founders hit this wall when market conditions change or growth stalls. 

• Focus on controlling what you can: extend your runway by trimming burn and prioritising anything that brings in revenue or gets you closer to profitability. 

• Explore alternative funding options like bridge rounds, venture debt (use wisely), grants or government subsidies. 

• It may also be time to consider a strategic partnership or even a sale if it secures a better future for your company. 

The important thing is to act early and decisively; the biggest mistake founders make is remaining overly optimistic about VC funding and not considering alternatives until it’s too late

Deciding whether (and how) to sell your startup is a big decision. Start by clarifying your goals: are you aiming to maximize the sale price, find a good home for your technology and team, relieve yourself of burnout, or all of the above?

See our mergers and acquisition for startups guide for a more detailed approach to selling your company. TLDR; selling your company can be complex and time-consuming but with the right partners you can reach a great outcome.

Our podcast titled “Building to Scale, Planning to Exit” is all about real stories and lessons from the startup journey. Each episode features candid conversations with founders and industry leaders who have “gone the distance.”

We talk about scaling companies, conquering tough setbacks, pivoting when necessary, and ultimately engineering successful exits or sustainable businesses. It’s an honest, unvarnished look at what it really takes to build an enduring company beyond the early startup sprint. If you’re looking for hard-earned insights and relatable stories, you’ll enjoy this.

23mile podcast

We hand-pick guests who have compelling, authentic stories to tell about the later stages of the startup journey. Our guests typically fall into one of these categories 

a) Exited founders who have navigated the merger & acquisition journey

b) Founders running startups that scaled to series B or any business to around £5 million rev

c) Group corporate development in startups or large corporates whose job it is to acquire early-stage companies

If this is you or you know anyone who fits, get in touch with us.