Investors who know what they are backing
Clarirad is radiology practice software built by Trucell for Australia, New Zealand and Chile. We take expressions of interest ahead of any funding round, so that when we raise we already know who we want in the room. The terms we start from are published below.
- Operating in Australia, New Zealand and Chile
- Deal principles published before the first meeting
- Every expression of interest gets a reply
What we look for in an investor
Capital is the easy part. These are the four things we weigh, and the form below asks about each of them.
Relevant domain expertise
You understand the software lifecycle, healthcare technology markets and what it takes to scale an engineering team. Passive capital is welcome, but it is not what moves us. We want partners who can read a roadmap and tell when a delay is a problem and when it is just software.
A network that adds value
Introductions to radiology groups and health networks, help hiring engineers, and a path to later funding rounds matter more to us than a slightly better valuation.
Aligned horizons
Medical software sells slowly and stays installed for a long time. We want partners whose timeline for returns matches a long product roadmap, not a quick flip.
A transparent track record
We will look at your past investments and ask how you treated technical founders through downturns and missed milestones. Expect us to call references, and expect to be able to call ours.
How we structure any deal
These are our starting positions. They protect the product and the people who build it, and they are on the table before the first meeting so nobody's time is wasted.
They are principles, not a term sheet. Final terms are negotiated under agreement with independent legal advice on both sides.
- 01
The company keeps its intellectual property
Clarirad's code, architecture, data models and brand stay owned by the operating company. Missing a milestone changes the next tranche, never the ownership of the code or the concept.
- 02
Founder and team equity vests
Founder and team stock sits on a four-year vesting schedule with a one-year cliff. Whoever leaves early, on either side of the table, does not walk away with unearned equity.
- 03
Proportionate anti-dilution and board terms
No full-ratchet anti-dilution, and no board structure that strips the technical founders of voting control early in the company's life.
- 04
Capital arrives in milestone tranches
Funding is staged against concrete product and revenue targets agreed in writing, not handed over in full against a promise. Neither is control or intellectual property.
- 05
NDA first, background IP marked out
Detailed conversations happen under a mutual non-disclosure agreement. Pre-existing and open-source components are listed up front, so there is never a question about what an investment does and does not buy.
What happens after you submit
Short, and in the open. We would rather say no quickly than keep a conversation going for the sake of it.
- 1
We read it
The founder reads every expression of interest and replies within ten business days, including when the answer is no.
- 2
A first call
Thirty minutes on what you have backed, how you work with founders and what you would want to see from us.
- 3
Mutual NDA
Signed before any numbers, roadmap detail or code is shared. Background IP is listed at the same time.
- 4
Terms, when we raise
When a round opens, people on this list hear first and receive the data room and a term sheet built on the principles above.
Register your interest
Tell us who you are, what you have backed and how you would help beyond the cheque. Everything here is read by a person.
- Read by the founder, not a pipeline
- Reply within ten business days
- Form traffic is encrypted in transit
An expression of interest is not an offer, and nothing on this page is an offer or invitation to subscribe for securities, or financial advice. Any investment would be made only under formal agreements after independent legal advice on both sides.