附近上门

Editor鈥檚 note: This profile is part of Something Ventured, an ongoing series by 附近上门 News examining diversity and access to capital in the venture-backed startup ecosystem. As part of this project, we鈥檙e following seven seed-stage entrepreneurs over the course of several months as they build their businesses. Read our previous profile of Josh Fabian and his unconventional path to founding Metafy here and here, and access the full project here.

In the world of startups, it is not uncommon for the founders to eventually step away from their roles running the company and let more seasoned executives take over. Sometimes it’s spurred on by the company鈥檚 performance, investor desires or the founders themselves needing a break from the grind of hiring, fundraising and hitting their numbers.

Subscribe to the 附近上门 Daily

Recently that question of eventually stepping away was hypothetically posed to , founder and CEO of Pittsburgh-based , an online coaching platform for gamers.

鈥淚t鈥檚 funny, an investor asked me that question the other day,鈥� he said. 鈥淚 told him, 鈥業鈥檓 in this for the long haul. I believe in this. I鈥檇 go get a tattoo of the company on my neck鈥攖hat鈥檚 how much I believe in it.鈥欌��

So later that day, Fabian went out and got that tattoo on his neck.

鈥淲hy not, right?鈥� Fabian said with a laugh, adding that he is willing to pay any employee who gets a matching tattoo $200.

The numbers

It鈥檚 easy for Fabian to laugh now. After hitting its first down month in May, Metafy鈥檚 gross merchandise volume (GMV) grew 16 percent month to month in June, 28 percent in July, and 45 percent in August. The company was set to close August with $122,585 in lessons and bookings combined.

While those numbers make Fabian happy, he also openly talks about the fact those numbers only increase the pressure on him and the company to beat them next month.

鈥淚t feels like it never ends,鈥� he said. 鈥淚t鈥檚 a little bit scary because I feel like it鈥檚 becoming something. It鈥檚 like when you start climbing the tower. It鈥檚 fun. Then you eventually start thinking about falling.鈥�

Despite freely admitting he feels the pressure to keep the company rolling鈥攚hile also running it in the way he wants鈥擣abian also is readying to double down on Metafy. He made several key hires in the last two months, including bringing on from as vice president of operations.

鈥淓very time I bring someone on I think to myself, 鈥楢m I conning you?鈥欌�� he said. 鈥淭hen I鈥檓 like, 鈥楴o, no, we are building something special here. We are building something significant.鈥�

The hirings also have helped alleviate some of the pressure Fabian has felt.

鈥淲hat I find interesting about being at a startup鈥攅specially at an early stage鈥攊s how rapidly everything changes,鈥� he said. 鈥淚 was VP of everything just a couple of months ago.鈥�

A new round

Adding people is not the only thing Fabian is looking to do. He also is looking to add cash as the company, which hit 2,000 students in August, continues to grow. Metafy likely will start to raise a Series A in the $20 million range starting later this month or in early October. The round could close by the end of year or early next, he added.

In May, Metafy closed a seed extension of $5.5 million led by , with participation from and . The company has raised a total of $8.65 million.

Fabian said he is eyeing a $100 million valuation for the new Series A.

鈥淚 feel fairly confident we鈥檒l get it,鈥� he said. 鈥淲e鈥檝e had some preemptive offers already, so we鈥檒l see.鈥�

What Fabian does not know is who he will try to push to raise the money from.

鈥淚鈥檓 not sure if some of these big-named VC funds provide that much value for us,鈥� said Fabian, adding that a large portion of the VC world may not 鈥済et鈥� a coaching platform for gamers. 鈥淵ou have these sexy names that say we will help you with hiring, we will help you with fundraising. I don鈥檛 know. We don鈥檛 need help hiring. We don鈥檛 need help fundraising.鈥�

Fabian said just as he did with the seed and the extension, he will find investors that understand the company and/or what the company is trying to build.

鈥淵ou have to find the right people,鈥� he said.

Trying to find time

While it may seem exciting to many to start your own company and go out to raise venture money鈥攖here鈥檚 a downside.

鈥淪o many people lie about being both a founder and a parent at the same time,鈥� Fabian said bluntly. 鈥淭hey talk about it like it鈥檚 not that hard to balance 鈥� I don鈥檛 know the last meaningful conversation I had with my kids 鈥� and that bothers me.鈥�

Fabian is a father of four: Isaiah, 11, Elijah, 10, Noah, 9 and 4-year-old Sloane. He estimates he gets to spend about one quality night a week with his kids.

鈥淲hen your company is so young, it鈥檚 just so fragile,鈥� he said. 鈥淏ut that鈥檚 just the reality of the situation. When you are putting something into the world鈥攋ust like kids鈥攊t鈥檚 time-consuming.

鈥淲hat it comes down to is I have to get through this really hard period,鈥� Fabian added. 鈥淚鈥檓 trying to build a unicorn and you have to be all in. At least they think what I鈥檓 doing is cool.鈥�

There’s also a particular perspective Fabian keeps that helps center him as he continues along the path to building his company.

鈥淓verybody has a thing in their life, which is the best thing they鈥檝e ever done,鈥� he said. 鈥淏ut the thing is, most people don鈥檛 know it when they鈥檙e doing it. But I鈥檓 lucky. I know this is it.鈥�

Photo illustration: