The journey of a founder who left medical school to build a telehealth company. Watch the full short — free, no account needed.
The journey of a founder who left medical school to build a telehealth company, OpenLoop. It details how he navigated a financial crisis and emphasizes the importance of choosing investors who align with the company's values.
But I remember one of those stories um took place on a Thursday evening and it was it could have been the end of the company. So um tell us what happened. >> It was uh late Thursday evening. We had about 50 to 60 full-time employees at the time and in the morning we were supposed to send out payroll. We didn't have enough money in the bank to cover payroll that next morning. Um, and we had this term sheet sitting there uh from a big venture capital group that was a prior investor into Open Loop. And uh, the the term sheet was for an $8 million raise. This group was going to put in four or five million of that. But I I didn't like the terms. the the the terms were slightly unfavorable to us and I wasn't sure about the group either if they were the best fit for