Routeworks Series C
Series C pitch deck that leads with efficiency over growth
A Series C pitch deck has to prove that growth is now bought efficiently, because late stage investors price the next dollar of ARR, not the last one. Routeworks, an invented delivery routing company, shows its burn multiple falling from 2.4 to 0.9 and four expansion markets each priced with its own payback.
Every slide, in order
The whole deck as it renders, one slide after another. Read it the way the audience would.
The structure
What each slide is doing, so you can reuse the order even with different content.
- Slide 1cover
- A formal cover with the efficiency claim, since a Series C is priced on how growth is bought.
- Slide 2intro
- The thesis in one paragraph: the company grew while burning less per dollar of new ARR every year.
- Slide 3metrics
- Six headline metrics in a grid, each defined in the line underneath so nothing is a vanity number.
- Slide 4metrics
- ARR by region as stacked columns, showing the UK and North America catching up with the home market.
- Slide 5metrics
- Contribution margin as a waterfall from 100 dollars of revenue, so the 70 percent is a sum of named costs.
- Slide 6metrics
- The burn multiple year by year in a scorecard, because a single good year is not a trend.
- Slide 7comparison
- How the Series B plan and the Series C plan differ, line by line, to show the company changed how it spends.
- Slide 8metrics
- The four expansion markets in one table with entry cost and payback, which is what the round is mostly for.
- Slide 9process
- The entry playbook in five steps, since repeatable entry is what makes the market table credible.
- Slide 10timeline
- The order the four markets open in, with each one gated on the one before.
- Slide 11investment
- Sixty million dollars by use in a table, with the four markets as one line totalling the entry costs.
- Slide 12closing
- Close on diligence access, which is what a late stage investor wants after the meeting.
Slide by slide
Slide one is the name and the efficiency claim. Slide two is the thesis, with the burn multiple and net retention as two cards. Slide three is six headline metrics, each defined. Slide four stacks ARR by region. Slide five walks 100 dollars of revenue to 70 dollars of contribution. Slide six is the burn multiple year by year. Slide seven compares the Series B plan with this one. Slide eight prices four markets. Slide nine is the five step entry playbook with a payback gate. Slide ten orders the markets in time. Slide eleven is the 60 million dollar use of funds. Slide twelve offers data room access.
How to adapt this deck
A Series C funding an acquisition rather than new markets should replace slides eight to ten with the target, the price and the combined numbers, and keep the efficiency slides as proof the company can absorb it. A consumer company should swap net revenue retention for cohort revenue curves and the burn multiple for payback on acquisition spend. A company whose burn multiple is getting worse should not hide it: show the trend and the specific line that will bring it down.
What late stage investors ask for
David Sacks popularised the burn multiple as net burn divided by net new ARR, and Bessemer Venture Partners publishes the cloud benchmarks most late stage investors compare retention and efficiency against. By Series C the question is no longer whether the product works but what each additional dollar of capital produces. That is why this deck spends three slides on efficiency and ends the market plan with a payback gate the board enforces, rather than a target the company hopes to hit.
What makes this deck work
Efficiency is a trend, not a number
Slide six shows the burn multiple at 1.6, 1.2 and 0.9 across three financial years, with net new ARR and net burn in the rows above. The 0.9 on the cover is 15.3 million dollars of burn over 17 million of net new ARR, and the table proves it.
Every expansion market is priced
Slide eight gives Canada, the Netherlands, Germany and Japan an entry cost and a payback, totalling 23 million dollars. The use of funds on slide eleven carries the same 23 million as one line, so the round is built from the market plan.
The region chart shows where growth comes from
Slide four stacks ARR by region from 6 million in June 2027 to 48 million in June 2030. The United Kingdom and North America each reach 13 million, which tells an investor the entry playbook has already worked twice.
Questions people ask
What is a burn multiple and why does it matter at Series C?
Net burn divided by net new ARR in the same period. A multiple of 1 means each dollar burned added a dollar of recurring revenue. At Series C investors use it to judge whether more capital will be spent well, so show it over several years, not one.
How is a Series C deck different from a Series B deck?
A Series B deck proves the model repeats; a Series C deck proves it repeats efficiently and shows where the next large market is. Expect more slides on unit economics, retention and capital allocation, and fewer on the problem and the product.
How do I show ARR by region in a pitch deck?
As stacked columns at the same date each year, with the total and each region share listed beside the chart. Four points is enough. The region slide here uses each 30 June so the columns line up with the financial years in the efficiency table.
Should a late stage deck include a contribution margin waterfall?
Yes, if margin is part of the efficiency story. A waterfall from 100 dollars of revenue to contribution makes each cost visible. This example deducts hosting and map data, then support, to reach the 77 percent gross margin, then onboarding and account management to reach 70 dollars.
How many slides should a Series C deck have?
Twelve to fifteen for the main deck, with a longer appendix for diligence. This one has twelve, and every one carries a number. Generating a deck this long needs a paid plan, which allows up to 20 slides per generation; the free plan stops at six.
Do the tables export to PowerPoint as real tables?
In the editable PowerPoint export, yes: tables, text, lists and nine of the ten chart kinds become native PowerPoint objects, so an analyst can rework the market table. The waterfall chart is one of the kinds that exports as a native chart.
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