Fundraising And Exit Lessons From A 2x Founder: Andrei Serban of Console

Why It Matters

Applying fundraising discipline to exits reduces friction and maximizes value, while AI‑backed automation like Console reshapes enterprise efficiency, creating fresh growth opportunities for founders and investors alike.

Key Takeaways

• Exit process mirrors fundraising: need prepared materials and target list
• Negotiate earnout terms; everything is flexible despite acquirer’s standard process
• Leaving early may sacrifice full earnout but accelerates new venture
• Console uses AI agents in Slack/Teams to automate IT and HR requests
• Founders should treat acquisition like a fundraising round: stay focused, act fast

Summary

The episode follows 2x founder Andrei Serban as he reflects on the sale of his security‑testing startup BuzzBuzz and the launch of his next venture, Console. He outlines how the acquisition unfolded, why he chose to exit early, and how his experience shaped the product vision behind Console’s AI‑driven back‑office platform.

Serban emphasizes that selling a company mirrors fundraising: founders need a tight list of prospective buyers, a data‑room ready to share, and a disciplined timeline. He admits he ran the Rippling acquisition without an external adviser, learning that a structured process and clear negotiation points—especially around earn‑out length, cash versus equity, and post‑close responsibilities—can prevent deals from dragging on.

A memorable quote from the interview is, “selling a company is actually quite similar to raising,” underscoring the strategic overlap. He illustrates Console’s value with a concrete example: a CFO requests Tableau access via a Slack bot, and the AI agent instantly validates policy, secures approvals, and grants access—cutting days of ticket‑queue time to minutes.

The takeaway for founders and investors is clear: treat exits with the same rigor as fundraising, negotiate every term, and recognize the emerging market for AI‑powered internal services. Console’s approach showcases how automating routine IT and HR workflows can unlock productivity, positioning the company for rapid adoption in an increasingly digital enterprise landscape.

Original Description

Produced by Foundersuite (for startups: www.foundersuite.com) and Fundingstack (for emerging manager VCs: www.fundingstack.com), "How I Raised It" goes behind the scenes with startup founders and investors who have raised capital.

This episode is with with Andrei Serban of Console, a San Francisco-based startup that provides an AI-powered IT Service Management platform that automates routine internal support requests and IT tasks directly through platforms like Slack and Microsoft Teams. Learn more at www.console.com

In this episode, we discuss the acquisition of Andrei's previous company, Fuzzbuzz, by Rippling and he shares tips for managing the exit process. We then discuss what Console does and why he started the company. Following that, Andrei shares the story of raising capital from Thrive Capital, DST Global and prominent angels, how he ran a really tight 2 week process, how he used AI and an Investor Memo in the process, tips for who to target at a VC fund, why he likes to hire ex founders, and more.

Andrei is a repeat guest of the show -- to catch the original episode when he was building Fuzzbuzz, click here: https://youtu.be/YzuueBGMO-o?si=ZhQEbi-CQHH66e77

Console has raised $29M from Thrive Capital and DST Global, with backers including Ramp's founders, Box CEO Aaron Levie, and Palo Alto Networks CEO Nikesh Arora.

How I Raised It is produced by Foundersuite, makers of software to raise capital and manage investor relations. Foundersuite's customers have raised over $21 Billion since 2016.

If you are a startup raising capital, create a free account at www.foundersuite.com.

If you are a VC, venture studio or investment banker, check out our new platform, www.fundingstack.com