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Comment | My Fundraising Journey as a Middle-aged Female Founder

Rachel Jones

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women in startups
In this contributed piece, Rachel Jones, founder of SnapDragon, and a member of Johnston Carmichael’s Tech Advisory Board, reflects on her founders journey as a non-technical, middle-aged woman in tech — and why age, gender, and setbacks should never be underestimated by investors.

I founded the online brand protection business SnapDragon after my invention, the Totseat – a washable, squashable highchair for babies who lunch – had been counterfeited. I was furious and determined to stop it from happening to others. But I was a non-technical, middle-aged woman with no experience of anything similar, let alone fundraising to the degree which would become necessary.

Had I known women receive only 2% of global investment funds, I might never have started. But I’m glad I did – despite the quips about being “old enough to be the mother” of the people I was pitching to.

When the first counterfeit Totseats were seized, I was enraged. Alongside a brilliant student, who later became SnapDragon’s head of brand protection, we flew to China to confront the retail site selling them. We needed them to understand that counterfeiting wasn’t just about luxury brands. In our case, fakes could threaten a child’s safety – as well as the future of our business. With the help of experts, we learned how to use intellectual property to prove originality and remove online copies. That learning changed everything.

Back in the UK, I applied what I’d learned to protect our own products and soon discovered many other brands facing the same issues. I wasn’t technical, but I knew how to build a brand.

So, I partnered with a brilliant freelance developer in Shetland, and thus began the journey as a tech founder to build online brand protection technology – and the business.

Our first round of investment came relatively easily. It was only afterwards that I fully understood how complex and expensive it is to build tech. The platforms we monitored kept evolving – it felt like building on sand. The first couple of funding rounds were tranched, which worked well as we delivered to time and budget.

But nothing could have prepared us for launching a new round in February 2020, right before the world shut down. That year, I delivered over 100 online pitches – frequently to different people from the same firm. I only met two women and two men told me I was old enough to be their mother – implying I was too old to function.

Despite having a revenue-generating business, solid traction, and a clear market, some investors couldn’t see past my age or gender. While that COVID-era round eventually became oversubscribed, to my great relief, I remain convinced it would have closed faster had I had a male co-founder. Sad, but probably true.

I also learned to pay attention to the smaller details as they often hold the biggest lessons.

Our Head of Product became our CTO overnight, in response to investor expectations around C-suite titles — a reflection of how quickly roles can (and must) adapt in a scaling startup and how richly he deserved the promotion. My biggest lesson when it comes to investment is what I call the “2am test”: if you’re up late working on a deal and feel resentful about who it’s for, they’re probably not the right investor, partner, or team member. I once pulled out of a deal hours before signing because it didn’t feel right – not financially, but personally. It was risky, but the long-term fit mattered more.

I also recommend working with investors who have sector experience as they’ll offer more relevant guidance and are more likely to be aligned with your mission.


Recommended reading


Recent research underscores the gender gap in startup funding. According to Beauhurst, only 3.7% of funded startups in early 2025 had all-female founding teams – down from 6.5% in late 2024. But that doesn’t mean we should give up.

Following diagnosis and treatment for breast cancer, I took a step back from the business at the end of 2023, by which time I had raised just under £4 million.

Reflecting on my journey, here are a few key takeaways:

  • Don’t do it alone if you can help it.
  • Bring your team to pitches – show investors the strength and expertise within the business.
  • Choose your professional advisers carefully and work closely with them to ensure you get the best deal you can.
  • If you’re a woman, don’t let the stats get you down. If you have paying traction, an obvious and growing market, the right team and significant potential, believe in the dream

Today, I lead Smart Works Scotland, a charity that helps unemployed women back into work. It’s a new chapter, but with the same mission: to help women realise their full potential – because our ideas, ambitions, and contributions matter, no matter the odds.

Rachel Jones - Snapdragon IP

Rachel Jones

CEO and Founder, SnapDragon

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