Clearwell Seed Deck

Seed pitch deck

A seed round for Clearwell, an invented American company that posts you a water test kit and then sells you the filter your result actually calls for. The slide order follows the template Y Combinator publishes rather than the corporate pitch order: problem, solution, then the growth curve on slide four, a second metrics slide, and the one non obvious belief the whole business rests on.

Create a presentation with OneCraft11 slides, read in order

Every slide, in order

The whole deck as it renders, one slide after another. Read it the way the audience would.

CLEARWELL

Test your water, then fix exactly what is in it

CW

Seed round, $2.4M

MARA AINSLEY, CO-FOUNDER

Slide 1 · cover · One word and one line, so the deck starts on the idea rather than on a logo.

THE PROBLEM

Almost nobody knows what is in their tap water, so the filter they buy is a guess. A guess that costs about $340 a year and often removes nothing that was actually there.

FOUR REASONS

Wells go untested

23 million American homes draw from a private well, and no utility is required to test any of them.

Notices are unreadable

A municipal water report is a table of 90 analytes. Almost no household can turn it into a buying decision.

Filters are sold blind

A pitcher filter certified for chlorine does nothing about lead, nitrate or PFAS, and the box does not say so.

Cartridges get forgotten

The average household changes a cartridge at roughly twice the recommended interval, which quietly ends the filtering.

02

Slide 2 · intro · States the problem as one claim with four supporting facts underneath it.

How Clearwell works

Three things happen, in this order, and the third one is the business.

A $49 test kit

Two vials, a prepaid mailer and an accredited lab in Ohio. Results land in the app in six days as plain sentences, not a table of analytes.

One matched filter

The result picks the filter. Lead gets a different cartridge stack from nitrate, and we say which contaminants we do not treat at all.

Cartridges on time

$29 a month ships the right cartridge when it is actually due, calculated from the household size and the flow, not from a calendar.

03

Slide 3 · checklist · Describes the whole product in three parts, in the order a customer meets them.

TRACTION

Active subscribers

3,100

Subscribers

$1.08M

Annualised

16%

Average MoM

Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Q3 2026
0800160024003200

04

Slide 4 · metrics · Puts the growth curve on slide four, before the market and before the team.

Churn by cohort

Share of each joining cohort that cancels in a given month. Newer cohorts leave less, and every curve flattens by month four.

Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
0%3%6%9%12%
Joined H1 2025
Joined H2 2025
Joined H1 2026

05

Slide 5 · metrics · The second metrics slide: churn by cohort, which is what a subscription actually lives on.

THE INSIGHT

The $49 test is not the product. It is the only honest way to sell somebody a filter they actually need.

Mara Ainsley, co-founder

Written on the warehouse wall in Reno since 2024

The kit is sold at cost and blended acquisition runs at $61 a subscriber, so the test has paid for the customer before the subscription starts.

06

Slide 6 · takeaway · The insight slide: the non-obvious thing we believe that the numbers above are evidence for.

Unit economics

The kit is sold at cost, so acquisition is close to free and the margin lives in the cartridge. A subscriber contributes $19.72 a month after cost of goods, pays back the $61 we spent to find them in 3.1 months, and we model an average life of 22 months, which is shorter than the oldest cohort curve already implies. That is a lifetime value of $434 against a $61 cost.

$61

Blended cost per subscriber

3.1 mo

Payback on acquisition

68%

Gross margin on cartridges

07

Slide 7 · metrics · Unit economics in three numbers plus the paragraph that explains where they come from.

The market

A $4.1B US home water treatment market, and the 38 million households nobody has ever tested.

01
The households

23 million US homes are on a private well that nobody tests. Another 15 million are on a public system that has issued a contaminant notice since 2023.

02
The trigger

People do not shop for filters. They shop after a boil notice, a house move or a first baby, and when they do they buy inside a fortnight.

03
What they spend

A filtering household spends about $340 a year on cartridges and bottled water. Most of that is spent on a filter chosen from a supermarket shelf.

04
Why nobody owns it

Filter brands sell hardware and never learn what is in your water. Labs sell a test and never sell you the fix. Neither side has the other half.

08

Slide 8 · pillars · Sizes the market from the household up, and names the gap the incumbents leave.

How we find them

One funnel, built around the moment a household starts worrying rather than around the category.

Trigger

Notice alerts

We watch public water notices and run local ads within 48 hours of one being issued.

Search

Contaminant pages

A page per contaminant per state answers the question people type at 11pm.

Test

The $49 kit

The kit is the conversion, not the subscription. 71% of kits become a subscription.

Referral

Street effect

One well tested on a road brings three neighbours. 18% of subscribers arrive this way.

09

Slide 9 · process · Shows the acquisition engine as four stages, with the channel named at each one.

Who runs it

Nine people. Three of them answer customer messages, including both founders.

Founders

Mara Ainsley spent six years as a water quality analyst for a county utility and wrote the matching rules. Dev Rajan built and sold a subscription logistics tool before joining her in 2024.

Shipping

Kits and cartridges ship from one warehouse in Reno, run by Tess Okonjo, who managed the same lane for a coffee subscription at roughly ten times our volume.

Science

Every panel is run by an accredited laboratory in Ohio, never by us. Dr Priya Iyer reviews the panel twice a year and signs off on any change to the filter matching rules.

10

Slide 10 · pillars · Three short paragraphs on the people, kept to who does the work rather than advisors.

The ask

A $2.4M seed to reach 12,000 subscribers and a second lab, without changing the model.

$2.4M

20 months of runway, to 12,000 active subscribers

$960K

Acquisition

Notice alerts in eleven more states and the contaminant pages that go with them. This is the only line that scales revenue directly.

$720K

Supply

A second fulfilment site on the east coast and enough cartridge inventory to hold a five day dispatch through winter.

$430K

Product

Two engineers to ship the re-test flow, which is the retention lever the cohorts above are already responding to.

$290K

Lab and compliance

A second accredited laboratory so a result never waits behind a queue, plus state by state registration work.

11

Slide 11 · investment · Ends on the ask, with the four things the money buys and the milestone it reaches.

The structure

What each slide is doing, so you can reuse the order even with different content.

Slide 1cover
One word and one line, so the deck starts on the idea rather than on a logo.
Slide 2intro
States the problem as one claim with four supporting facts underneath it.
Slide 3checklist
Describes the whole product in three parts, in the order a customer meets them.
Slide 4metrics
Puts the growth curve on slide four, before the market and before the team.
Slide 5metrics
The second metrics slide: churn by cohort, which is what a subscription actually lives on.
Slide 6takeaway
The insight slide: the non-obvious thing we believe that the numbers above are evidence for.
Slide 7metrics
Unit economics in three numbers plus the paragraph that explains where they come from.
Slide 8pillars
Sizes the market from the household up, and names the gap the incumbents leave.
Slide 9process
Shows the acquisition engine as four stages, with the channel named at each one.
Slide 10pillars
Three short paragraphs on the people, kept to who does the work rather than advisors.
Slide 11investment
Ends on the ask, with the four things the money buys and the milestone it reaches.

What makes this deck work

Growth arrives on slide four

The subscriber curve comes before the market, before the model and before the team. A seed investor is buying evidence, and burying the evidence behind eight slides of setup is the most common way seed decks lose the room.

Two metrics slides, not one

Growth alone proves nothing about a subscription, so the second chart is churn broken out by joining cohort. Newer cohorts leave less, which is the claim the rest of the deck spends money on.

One slide carries the insight

A $49 test kit sold at cost is not a product line, it is the acquisition channel, and the deck says so in one sentence with the cost per subscriber underneath it. That is the slide a seed investor repeats to their partners.

Questions people ask

What goes in a seed pitch deck?

Problem, solution, traction, a second metrics slide, your insight, business model, market, how you acquire customers, team and the ask. Ten to twelve slides. Y Combinator publishes this order and most seed investors read decks expecting it.

How much traction do you need to raise a seed round?

Enough that the chart has a shape. This example shows 3,100 paying subscribers and about $1.08M of annualised revenue after seven quarters. What matters more than the absolute number is that the growth and the retention are moving in the same direction.

Should the deck include financial projections?

A seed deck shows unit economics rather than a five year model. This one gives cost per subscriber, payback period and gross margin on one slide, then explains in a paragraph how those three numbers turn into a lifetime value. The model belongs in the data room.

How long should a seed deck be?

Twelve slides or fewer. Visible reports that decks read all the way through average about twelve slides, while the average deck uploaded is eighteen. This example is eleven and ends on the ask rather than a thank you slide.

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