Scenario B — Lean / Media-First
Internal Document — Confidential

$2.5M Seed
Lean Model

5-Person Team · Media-First Framing · ~$128K/mo Burn · New York City
Key Numbers
Total Raise
$2.5M
↓ $1M vs Scenario A
Monthly Burn
$128K
↓ ~$55K vs Scenario A
Runway
19–21
Months — slightly longer
Team
5
↓ 3 roles cut vs A
Scenario Comparison
Scenario A — Full Build
$3.5M
8 people · Tech-forward · ~$183K/mo fully loaded
  • Pre-Money$14M
  • Dilution~20%
  • TeamCEO, CTO, COO, Eng ×2, Writer, Designer, Ops
  • Pitch ProfileAI-native entertainment company. Tech + IP.
  • Investor TargetMedia-tech crossover funds, AI-focused seed
  • RiskHigher burn, burn discrepancy, thin buffer
Scenario B — Lean / Media-First
$2.5M
5 people · Media-first · ~$128K/mo fully loaded
  • Pre-Money$9–10M (suggested)
  • Dilution~20–22%
  • TeamCEO, CTO, COO, Engineer ×1, Designer ×1
  • Pitch ProfileLive media property + internal AI advantage.
  • Investor TargetEntertainment angels, strategic media execs
  • RiskThinner creative output, CTO/Eng bottleneck risk
A media-first raise doesn't mean hiding the tech.
It means leading with what's already real — Project Americana is live.
The engine is the unfair advantage, not the headline.
Execution Phases — $2.5M Model
PHASE 0
Foundation
Months 0–3
~$310K
Core team assembled
CTO onboarded
ENGMA scoped for lean build
Americana content ramping
PHASE 1
Build
Months 4–9
~$720K
ENGMA v1 live (leaner spec)
Americana audience growing
First Dots client pilots
ORB beta launch
PHASE 2
Monetize
Months 10–15
~$720K
Subscription platform live
Engine licensing revenue
IP licensing conversations
Audience + retention data
PHASE 3
Series A
Months 16–18
~$360K
Revenue in sight
Traction data packaged
Team expansion story
Series A at larger ask
Team & Payroll — ~52% of Raise (~$1.3M Fully Loaded)
RolePersonStatusAnnual Salary18-Mo BaseNotes
CEO / CCONeelanActive $120,000$180,000 Carries more creative output without a dedicated writer. Key constraint.
CTOTBDIn Convo $165,000$247,500 Leaner ENGMA spec. Hands-on build; bottleneck risk in Phase 2.
COOTBDTo Hire $130,000$195,000 Absorbs ops/admin — no support role at this size.
EngineerTBDTo Hire $145,000$217,500 Solo engineer. CTO-led. Consider contractor backup by Month 9.
DesignerTBDTo Hire $90,000$135,000 Visual identity, character visuals, LoRA reference work.
Engineer #2Cut $140,000$210,000 Deferred to Series A.
Creative — WriterCut $90,000$135,000 CEO absorbs. Biggest creative risk in this model.
Ops / AdminCut $65,000$97,500 COO absorbs. Workable early, tight by Phase 2.
Salaries Subtotal (18 months) ~$650K/yr$975,000
Payroll Burden — Taxes + Benefits (~33%) ~$322,000 FICA, health, 401k — standard NYC employer costs.
Total Team Cost (Fully Loaded) ~$1,297,000
Non-Payroll Budget
Category%Total (18 mo)Monthly AvgNotes
Cloud & Infrastructure13%$325,000$18,056Leaner ENGMA spec. Fewer parallel agent pods.
Contractors & Specialists7%$175,000$9,722Slightly higher % — compensates for missing writer role.
Marketing & Growth6%$150,000$8,333Americana audience growth, ORB launch. Trimmed.
Legal & IP Protection4%$100,000$5,556Same needs, slightly trimmed timeline.
Software & Tools2%$50,000$2,778Reduced stack at smaller team size.
Travel & Events2%$50,000$2,778NYC base keeps this low.
Operational Cushion6%$150,000$8,333~13 weeks of buffer at lean burn.
Non-Payroll Subtotal~40%$1,000,000$55,556
+ Team & Payroll~52%$1,297,000$72,056
Total 18-Month Spend~92%$2,297,000~$127,600/mo~$203K buffer vs $2.5M raise
Budget Composition
Team & Payroll (fully loaded)52%
$1,297,000
Cloud & Infrastructure13%
$325,000
Contractors & Specialists7%
$175,000
Operational Cushion6%
$150,000
Marketing & Growth6%
$150,000
Legal & IP Protection4%
$100,000
Software & Tools2%
$50,000
Travel & Events2%
$50,000
Revenue Offset — Low vs High Scenario
StreamActivatesLowHighNotes
Subscriptions ($5/mo)Month 10$180,000$480,000Smaller team = slower content volume.
Engine Licensing (Dots)Month 9$200,000$600,000Leaner ENGMA still licensable.
IP Licensing (XYZ)Month 12+$100,000$400,000Books, film, TV. Longer sales cycle.
AdvertisingMonth 13+$50,000$250,000ORB platform ads + character sponsorships.
Digital AssetsMonth 15+$30,000$150,000Later phase. Lower ceiling at this size.
Projected 18-Mo Revenue$560,000$1,880,000
Total Spend$2,297,000$2,297,000
Net Cash at Month 18 (incl. raise)+$763,000+$2,083,000
Projected range (18 months)
$560K – $1.88M
Lower ceiling than Scenario A — but a cleaner, more fundable story at this stage
What This Model Gives You / Costs You
What You Gain
  • Lower ask — wider investor pool, faster close
  • Cleaner pitch: lead with Americana, tech is the moat
  • Better burn ratio — ~$128K/mo is more defensible
  • Slightly longer runway — more room to miss a milestone
  • Opens entertainment angels who wouldn't touch a $3.5M tech round
  • Series A story: "We got here with $2.5M — imagine $10M"
What You Give Up
  • No dedicated writer — CEO carries creative load solo
  • Solo engineer — bottleneck risk in Phase 2
  • Leaner ENGMA spec — some architecture deferred
  • Lower revenue ceiling — content volume constrained
  • COO absorbs all ops/admin — bandwidth squeeze by month 12
  • Less impressive to purely technical investors
Key Flags
Valuation Recalibration

At $2.5M raise, the $14M pre-money from Scenario A is aggressive. A $9–10M pre-money is more defensible and investor-friendly — still a strong story, and leaves room to grow into the $14M+ valuation at Series A with traction data.

The Writer Gap Is Real

The lore depth on pax.nulus.co is one of the most compelling things about this project. Losing a dedicated writer puts it on the CEO — real creative bandwidth risk as Americana scales toward 100 personas. Consider a part-time contractor budget here.

One Engineer Is a Bottleneck

Phase 1 is manageable with CTO + one engineer. By Phase 2, when the subscription platform, ENGMA v1, and Dots client pilots need simultaneous attention — this gets tight fast. Budget for a contractor engineer by month 9 if traction allows.

Right Raise for Right Now

Scenario B matches the ask to the proof. You have a live product, a built universe, and a founder story. That's a $2.5M angel-led seed — not a $3.5M institutional tech round. Raise this, prove it, then come back bigger.