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Existing investors can be a key source of capital in your next round — whether they invest ahead of a new lead to signal confidence, or lead the round themselves. Follow-On Intelligence turns your cap table’s historical behavior into a concrete view of where to focus relationship-building before you’re back out fundraising.

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Your Readiness Dashboard

Follow-On Intelligence draws on everything Metal knows about your company to score how ready you are to raise your next round, benchmarked against companies at a similar stage, sector, and geography.

Company Fundability Score

How ready your company is to raise its next round, based on your traction vs. typical benchmarks for your stage, sector, and geography.

Strategic Assessment

An AI-generated summary of your follow-on outlook — strengths, risks, which investors to prioritize, and what to focus on before fundraising begins.
Update your round details at any time to recalculate the score and recommendations, or click Discuss with Richard to dig into your follow-on strategy with the relevant data already loaded into the conversation.

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Your Investor Table

Below the dashboard, every cap table investor is ranked by Follow-On Score — our engine’s estimate of how likely each investor is to follow on, based on their historical follow-on patterns at your stage, sector, and geography.
Hover any score for a quick AI-generated explanation of what’s driving it, including the investor’s historical follow-on rate at your specific stage, sector, and geography.

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Investor Detail View

Click any investor to open a structured breakdown:

Summary Stats

Historical follow-on rate, median time to follow on, rate of leading follow-on rounds, and how often they invest more than once after their first check.

AI Strategy Insight

A personalized recommendation connecting this investor’s historical patterns with your specific stage, timeline, and relationship history — not a generic summary of the numbers.

Follow-On Rate Breakdown

An interactive chart showing how this investor’s follow-on rate varies by stage, sector, and geography, with your own profile highlighted against their broader portfolio.

Discuss with Richard

Ask Richard how likely this specific investor is to participate in your next round, and what strategy would maximize your chances.
Follow-On Intelligence currently estimates likelihood using historical investment data. Precise timing detail — such as exactly how far ahead of a lead an investor typically commits — will get sharper as Metal’s Cap Table product captures more granular timing data over time.

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Frequently asked questions

It’s based on your company’s traction relative to typical benchmarks for your stage, sector, and geography — not on your existing investors’ behavior. It recalculates whenever your round details or company context change.
Each investor in your cap table gets a Follow-On Score based on their historical follow-on patterns at your specific stage, sector, and geography — a separate score from your company’s overall Fundability Score.
From Settings → Upcoming Round Details — round stage, size, and timeline. Updating them there recalculates your Readiness Score and recommendations automatically.
Yes. Follow-On Intelligence analyzes your existing cap table investors, so it’s built for companies that have already closed at least one round and are looking ahead to the next.
Yes. Both the main dashboard and each investor’s detail view have a Discuss with Richard action that opens a conversation pre-loaded with the relevant data.