investor marlon nichols and wonderschool’s chris bennett on getting to the point with a pitch deck

An Unconventional Investment: The Wonderschool Story

Prior to a discussion on Extra Crunch Live, Marlon Nichols revealed a surprising detail to me. The founding managing partner at MaC Venture Capital hadn't actually reviewed Wonderschool’s initial pitch deck before making an investment in the remote education company.

His first encounter with the seed-stage deck occurred during our conversation with the company’s CEO, Chris Bennett.

The Serendipitous Partnership

The collaboration stemmed from a fortunate confluence of events in Silicon Valley, favorable timing, and established professional connections.

“He participated in an organization dedicated to connecting a more diverse group of founders with investors,” Nichols explained. “This initiative coincided with my relocation to the San Francisco Bay Area in 2011, and we began cultivating a working relationship. By 2016, at my first fund, Cross Culture [Ventures], we were actively seeking investments in early childhood care.

We were evaluating several companies when my partner, Suzy [Ryoo], inquired if I was familiar with Wonderschool, founded by Chris Bennett. I immediately recognized the name.”

Bennett recounted that Nichols initially contacted him via Facebook Messenger regarding the opportunity. Following an initial discussion and an assessment of competing businesses, Nichols determined that Wonderschool was a suitable addition to Cross Culture’s investment portfolio.

Networking as a Catalyst

Interestingly, the startup’s beginnings were also rooted in professional networking within Silicon Valley.

“I regularly attended the TED conference,” Bennett stated. “I met an individual who emphasized the critical importance of early childhood education. She shared that many of the skills she utilized as a CEO were developed before the age of five. This concept resonated with me, prompting me to investigate further.

I discovered a significant shortage of childcare options in the United States.”

Bennett expressed slight discomfort when we began reviewing the company’s early deck. The presentation was remarkably minimalist, featuring white text on a blue background, primarily consisting of bullet points.

It lacked visual embellishments—even basic graphics—and Bennett noted that the aesthetic remained largely unchanged between the initial pitch and the Series A deck.

Focus on Fundamentals

“This simplicity reflected our priorities at the time,” Bennett clarified. “We were intensely focused on achieving product-market fit and thoroughly understanding our customers’ needs. Our primary goal was building a strong team.”

Despite its simplicity, Wonderschool successfully raised $20 million in its later funding round.

“A pitch deck should accurately represent the venture you are building,” Nichols asserted. “You are requesting investment, and the deck should reflect that. While attractive graphics can be beneficial, they don’t necessarily equate to professionalism.”

Evolution of the Pitch

However, significant refinements were made to the pitch as Wonderschool prepared for its Series A funding round.

“We had substantial traction heading into our Series A,” Bennett explained. “Investors raised concerns about the quality and safety of childcare, and we needed to address those. There were also questions regarding our potential revenue streams. The initial deck presented facts and identified the opportunity.

The Series A pitch, however, was more narrative-driven, incorporating my personal story.”

The initial pitch’s simplicity was partly attributable to the fact that the company was approaching investors who were already acquainted with Wonderschool’s founders. The Series A round, naturally, presented a greater challenge, both in terms of the funding amount sought and the need to engage with individuals outside their immediate network, requiring a more comprehensive understanding of the team behind the company.

The Power of Early Traction

Nichols emphasized that his interest in the early pitch wasn’t solely based on his conversation with Bennett. The early-stage company also demonstrated tangible progress beyond the pitch deck itself.

“Before officially launching, Chris and his co-founder piloted the concept and achieved demonstrable results, indicating they were onto something. They had the data to support their claims,” Nichols stated. “My advice to entrepreneurs is to build as much as possible, as early as possible, and present metrics—even preliminary ones. This provides a more concrete and credible foundation.”

Founder Expertise: A Balancing Act

As Bennett previously mentioned, he lacked a formal background in childcare before founding Wonderschool. Given the sensitive nature of early childhood learning and care, how crucial is it for a startup’s founders to possess deep expertise in the field?

“When knowledge gaps exist, you can recruit individuals to provide support,” Bennett responded. “I’m not an engineer, yet a robust product is a core component of Wonderschool. I’m not a product manager either—I don’t have formal training in product development. Therefore, I focus on identifying gaps within the leadership team or the company itself, and filling those gaps by recruiting the right talent.”

“Interestingly, one of Wonderschool’s competitors had extensive childcare experience,” Nichols added. “However, they lacked a clear and proven ability to build a business and address a problem effectively. It was evident to me that Chris had conducted thorough research to quickly gain a comprehensive understanding of the challenges, and he had developed a unique approach to solving them—which he then tested using his own resources.”