How Velaris nailed fundraising to drive growth
1. Background
Velaris is a smart customer success platform helping B2B companies grow, retain, and deepen customer relationships. It combines data, automation, and collaboration in one place so teams can reduce churn and maximize long-term value.
Founded by SaaS veterans Jose Fernández-Castaño and Dilanka Kalutota (ex-Mews, ex-Exponea), Velaris had global ambitions from the start, with HQ in London and an engineering base in Sri Lanka. The team knew that building the product was only half the journey.
Here’s how they navigated their pre-Series A round to secure the capital they needed to drive their next phase of growth.
2. Preparing for the raise
Timing it right
Once Velaris validated its product in the market, it was time to shift gears. The company had hit a natural inflection point: to scale product development and support expansion, they needed capital. With the existing runway in mind, the team began planning the raise to ensure sufficient cash flow and stick to their business roadmap. This way, they avoided time pressure and set themselves up to raise on their own terms.
Picking the right investors
Velaris wasn’t just chasing capital, they wanted long-term partners. The focus was on smaller venture funds with deep B2B SaaS experience. They prioritized sector expertise, shared vision, and founder-friendly mindset. That alignment made negotiations smoother, even when talks got into the weeds.
They also invited existing investors to join the round. That continuity mattered because it grounded the company in the relationships that helped launch it.
As Dilanka put it, “We chose investors who understood our space and stage. That made all the difference.”
Founder-led, hands-on prep
Velaris founders led the entire prep themselves. They knew what mattered, where the gaps were, and how to position the business to investors.
A lot of work had already been done during the seed round, but some areas needed an update. Working closely with Eldison, they prepared key documents in advance. By the time diligence began, they were ready.
3. Running the round
Navigating key terms
Initial talks with investors were smooth. But as expected, commercial terms required careful handling, from governance and voting rights to sanctions and liquidation preferences. Everyone had interests to protect, but the shared foundation and smart choice of investors made compromise easier.
Aligning old and new investors
One of the biggest challenges? Making sure new and existing investors could co-exist. Adding a new lead meant revisiting decision-making and corporate governance. With thoughtful negotiation, the team landed on a structure that worked for both sides.
Building ownership into the culture
From day one, Velaris wanted employee ownership to be part of how the company grew. Having seen the value of ESOPs before, they introduced a plan early and kept building on it.
With Eldison’s help, they rolled out a global stock option plan, including an EMI sub-plan for UK employees. It gave them the flexibility to offer ownership to the entire team while maximizing local tax benefits.
4. Eldison’s role
A partner from day one
Having worked with Eldison at Mews and Exponea, the founders didn’t need to shop around. They trusted Eldison to jump in quickly and handle both legal and business complexities. Jose noted that Eldison already understood their business, which made things move faster from the outset.
“We didn’t need to explain our business from scratch. Eldison already knew how we worked,” Dilanka shared.
Strategic legal guidance
Eldison didn’t just draft documents, they helped Velaris think through the commercial meaning of legal terms, what to push for, and what to let go of. The goal: land on fair, future-proof terms.
Efficient negotiations
As the round progressed, Eldison translated legal risks into business implications. They kept the process fast and focused, helping Velaris avoid bottlenecks while protecting their interests.
Due diligence done right
With Eldison’s help, Velaris prepped the data room, filled documentation gaps, and responded to investor requests fast. Those smart fixes kept the deal on track.
“When due diligence got detailed, Eldison helped us focus on what mattered and sort out the rest quickly,” explained Jose.
ESOP setup and beyond
Eldison structured a global stock option plan, including an EMI sub-plan, and helped roll it out through the Eldison ESOP platform. They also continue to support Velaris daily, from reviewing customer contracts to setting up legal entities in the UK, Spain, and Sri Lanka.
5. Results & reflections
Lessons learned
- Start prep early. Founder-led prep pays off.
- Engage existing investors well before term sheets land.
- Align investors’ expectations and governance early to save time.
- Keep the cap table clean and investor mix strategic.
Business impact
While it’s still early, the funding allowed Velaris to stay on-plan and hit their growth milestones. The capital has gone into scaling the product, hiring strategically, and pushing forward on international expansion.
Summing it up, Dilanka said, “We’re on track with the business plan. The raise gave us exactly the runway we needed.”
7. In a nutshell
Velaris approached fundraising with clarity and intent, securing the capital they needed to scale while staying true to their mission. With Eldison’s support, they navigated negotiations, aligned new and existing investors, and strengthened their global ESOP to bring every team member along for the journey. The Eldison platform now helps them manage equity with ease, while the legal team continues to support their day-to-day operations. As Velaris grows, its commitment to ownership, alignment, and thoughtful execution remains at the core of how it builds.
8. Key takeaways
- Velaris planned ahead, giving themselves room to negotiate on their terms.
- They picked investors with real B2B SaaS experience and a long-term mindset.
- The founders led the process end-to-end, supported by Eldison.
- Eldison helped prep the data room, close legal gaps, and streamline negotiation.
- Velaris now runs a global ESOP, backed by Eldison’s tech and expertise.
- The Eldison team continues to support their scale-up journey daily, from contracts and compliance to expansion to new markets.