Startups Knowledge Base

Can I run a preview campaign to gauge Investor interest (i.e., test the waters)?

Yes, you can run a preview campaign to assess the level of interest in your funding campaign before spending the time and resources to complete full Reg CF funding campaign materials and regulatory filings. 

A “test the waters” campaign, which we call a Fundify Fast Pitch Preview™, includes an online pitch without the financial disclosures and legal docs (such as a Form C) that are required to launch a Reg CF campaign. This helps with resources and gives you more time before disclosing certain company or product information that you may wish to keep confidential until your funding campaign launches.

What does a preview campaign include?

A Fundify Fast Pitch Preview™ features a:

  • Preview pitch page with a compelling headline, description of your investment opportunity and a list of the top reasons someone may want to invest. This is a great spot to showcase your unique selling points (USPs), market opportunity, product/solution details, social proof and team introductions. Your funding campaign targets are also shared on your pitch page. If you plan to offer perks as part of your campaign, you can preview them here or add that information before your funding campaign goes live.

  • Hero image, which is a high-quality image of your product, service or idea. You will upload this along with your logo.

  • 3-min. video pitch by the Founder (unless you already have an “explainer” video).

We’ll provide you with the disclaimer that the SEC requires to be included on test the waters materials (disclaimer shown in advertising answer below).

During your Fast Pitch Preview, respond promptly to comments or questions posted by potential Investors. You can do this on the “Discussion” page. Also, share information about your progress under “Updates” within three days of launching your preview campaign and then at least twice a week throughout. You may want to highlight traction you’re seeing or preview campaign refinements.

How do potential Investors indicate interest? 

Potential Investors can click the 1-Click Reserve™ button on your pitch page to indicate interest. They’ll also have the option of indicating how much they’d like to invest. We’ll notify them when your funding campaign goes live so they can be among the first to invest. 

It’s important to note that indications of interest are nonbinding. People can click 1-Click Reserve and later choose not to invest. Also, be aware that investments cannot be accepted during a preview campaign. However, as soon as you’ve launched a Reg CF campaign, we’ll let your crowd know that you’re ready for investments.

How long can my preview campaign last?

Your Fundify Fast Pitch Preview can last as long as you’d like until you file your Form C. Once you file Form C, your preview campaign is over and you’re ready to launch your live funding campaign.

How soon after can I launch my funding campaign?

With Reg CF, there’s no waiting period between a preview campaign and your live funding campaign.

Who's eligible to run a Fundify Fast Pitch Preview?

Startups and growth companies that pass our screening for reasonable basis and platform guidelines are welcome to run a Fundify Fast Pitch Preview.

How much does it cost to run a Fundify Fast Pitch Preview?

There’s no cost on Fundify.

Can I advertise my Fast Pitch Preview?

Yes, and we recommend that you do! The SEC’s advertising rules for preview campaigns differ from those for Reg CF funding campaigns. Note that you are required to include the disclaimer below in all advertising and communications related to your preview campaign. 

Required Disclaimer: We’re considering raising capital through a Regulation Crowdfunding campaign on Fundify and are running a test the waters campaign to gauge Investor interest. During this test the waters campaign, (1) no money or other consideration is being solicited, and if sent, will not be accepted; (2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through Fundify’s platform; and (3) a prospective purchaser’s indication of interest is nonbinding.


Also, you’ll need a screenshot of any advertisements and communications related to your preview campaign that are shared within 30 days of your Form C filing. These screenshots must be included with your Form C.

Per SEC rules, ensure that your advertisements and communications are factual and void of misleading information or hyperbole (no “world’s greatest” claims). Always point potential Investors to your preview pitch page on Fundify for investment terms and details.

Note that as soon as your funding campaign goes live, all advertising and communications must follow the SEC rules for Reg CF campaigns. In short, you must separate messages about offering terms from those that discuss your company, products and services. It’s a best practice to focus on your company and solutions without mentioning deal terms. Link to the campaign page for details of the terms.

Want more information?

You can learn more about the SEC’s guidelines for test the waters for Reg CF in Rule 206 and Rule 204(b).

Ready to launch your Fundify Fast Pitch Preview?

Reach out to us.