During the venture capital crash of 2022, SecurityPal founder Pukar Hamal was just 14 months from running out of money. Rather than raise another round, he chose to restructure and focus on getting his business to profitability as quickly as possible -- and he hasn't raised since his $21 million Series A in 2021.
On today's episode of Equity, Hamal chatted with Julie Bort about what he calls "nuanced capital," a strategy focused on achieving cash flow positivity and sustainable growth rather than hyper-growth and chasing the next big round. His approach challenges the conventional wisdom that startups, including AI companies, need constant capital injections to compete, proving that even in competitive markets, there's an alternative path.
