Click rate = share of emailed investors who clicked through to the site (target >80%). Meetings / visitor = bookings per unique visitor (target 1.0). Funded rate = share of companies that raised external capital after the showcase (target >80%).
| Showcase | Region | Emails sent | Click rate (target >80%) | Meetings / visitor (target 1.0) | Funded rate (target >80%) | Companies | Meetings | Avg/co | Page /10 | Quality /10 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| πΊπΈ US | |||||||||||
| US Spring '26 LIVE | US | 2,242 | ~55% | ~0.59 | TBD | 28 | 594 | 21 | 8 | 9 | |
| US Fall '25 | US | β | β | β | TBD | 28 | 511 | 18 | 7 | 7 | |
| US Spring '25 | US | 925 | 87% β | 1.07 β | 44% | 34 | 865 | 25 | 5 | 8 | |
| US Fall '24 | US | 1,500 | 70% | 0.76 | 37% | 30 | 800 | 27 | 7 | 7 | |
| πͺπΊ EU | |||||||||||
| EU Oct '25 | EU | 2,747 | 59% | 0.37 | TBD | 23 | 593 | 26 | 7 | 7 | |
| EU Feb '25 | EU | 2,550 | 51% | 0.50 | 24% | 33 | 621 | 19 | 7 | 7 | |
| EU Sep '24 (1st edition) | EU | ~2,077 | β | β | β | 65 | ~300 | ~5 | β | β | |
| π¬π§ UK Β· π©πͺ CE Β· π³π΄ Nordics | |||||||||||
| UK14 Spring '26 LIVE | UK | TBD | TBD | TBD | TBD | 13 | Live | β | 8 | 7 | |
| Nordic Spring '26 LIVE | NOR | 508 | 65% | β | TBD | 16 | 34 | 3.4 | 7 | 9 | |
| UK13 Oct '25 | UK | 1,067 | 57% | β | TBD | 7 | 255 | 36 | 9 | 7 | |
| UK12 Feb '25 | UK | UK slice of EU list | 8% β | β | TBD | β | TBD | β | 7 | 7 | |
Targets: click rate >80% Β· meetings/visitor 1.0 Β· funded rate >80%. US Spring '26: click rate = bitly clicks Γ· emails, visitor count from Looker Studio (includes staff). Nordic Spring '26: 10 bookable + 6 express-interest companies; engagements = meetings + form submissions + email replies.
πΊπΈ US
US Spring '26 US LIVE
Spring 2026 Β· In progress
Companies28
Emails sent2,242
Click rate~55%
Meetings594 live
Meetings / visitor~0.59
Funded rateTBD
Capital raisedTBD
US Fall '25 US
Fall 2025
Companies28
Emails sentβ
Click rateβ
Meetings511
Avg / company~18
Funded rateTBD
Capital raisedTBD
US Spring '25 US
Spring 2025
Companies34
Emails sent925
Click rate87% β
Meetings865
Meetings / visitor1.07 β
Funded rate44%
Capital raised$12.1M
πͺπΊ EU
EU Oct '25 EU
October 2025
Companies23
Emails sent2,747
Click rate59%
Meetings593
Meetings / visitor0.37
Funded rateTBD
Capital raisedTBD
EU Feb '25 EU
February 2025
Companies33
Emails sent2,550
Click rate51%
Meetings621
Meetings / visitor0.50
Funded rate24%
Capital raised$20.8M
EU Sep '24 EU
September 2024 Β· First EU showcase
Companies65
Emails sent~2,077
Click rateLimited data
Meetings~300 est.
Funded rateβ
Capital raisedβ
π³π΄ Nordics
Nordic Spring '26 NOR LIVE
Spring 2026 Β· In progress
Companies16
Emails sent508
Click rate65%
Meetings34 live
Total engagements61
Funded rateTBD
Capital raisedTBD
Three core metrics: click rate (did investors open the site?), meetings per visitor (did they book?), and funded rate (did companies raise after?).
US Spring '26 US LIVE
Spring 2026 Β· In progress Β· vs Fall '25
Companies28 β0
Emails sent2,242
Click rate~55%
Unique visitors~1,000 incl. staff
Meetings594 live β²+16%
Avg / company21 β²+17%
Meetings / visitor~0.59
Funded rateTBD
Capital raisedTBD
US Fall '25 US
Fall 2025 Β· vs Spring '25
Companies28 βΌβ18%
Emails sentβ
Click rateβ
Unique visitorsβ
Meetings511 βΌβ41%
Avg / company~18 βΌβ28%
Meetings / visitorβ
Funded rateTBD
Capital raisedTBD
US Spring '25 US
Spring 2025 Β· Best performance to date
Companies34 β²+13%
Emails sent925 βΌβ38%
Click rate87% β β²+17pp
Unique visitors~805
Meetings865 β²+8%
Avg / company25
Meetings / visitor1.07 β
Funded rate44% β²+7pp
Companies funded15 / 34
Capital raised$12.1M β²+$3.1M
US Fall '24 US
Fall 2024
Companies30
Emails sent1,500
Click rate70%
Unique visitors~1,050
Meetings800
Avg / company27
Meetings / visitor0.76
Funded rate37%
Companies funded11 / 30
Capital raised$9.0M
Deltas vs previous US showcase. Spring '26 data live (Mar 19 β Apr 2026). Fall '25 meeting data from internal tracker β email/click/visitor data not captured in this source. Click rate = bitly clicks Γ· emails. Visitor count from Looker Studio includes Antler staff.
Key Takeaways
Spring '25 is the benchmark
Click rate 87% and meetings/visitor 1.07 β the only showcase in Antler history where both targets were hit at the same time. Smaller, more targeted list (925 emails) was the key.
Click rate 87% and meetings/visitor 1.07 β the only showcase in Antler history where both targets were hit at the same time. Smaller, more targeted list (925 emails) was the key.
Fewer emails β more meetings
Spring '25 sent 38% fewer emails than Fall '24 but got 8% more meetings. Quality of network and personalization drove the difference, not volume.
Spring '25 sent 38% fewer emails than Fall '24 but got 8% more meetings. Quality of network and personalization drove the difference, not volume.
Funded rate still below target
No US showcase has hit the >80% funded rate target. Spring '25 improved to 44% (15/34). This remains the biggest gap β the showcase drives meetings, but follow-through to funding needs work.
No US showcase has hit the >80% funded rate target. Spring '25 improved to 44% (15/34). This remains the biggest gap β the showcase drives meetings, but follow-through to funding needs work.
Fall '25: fewer meetings than Spring '25
511 meetings from 28 companies (avg 18/co) β down 41% from Spring '25's 865. Email/click data not available for this cohort. Top companies: Meso AI 65 Β· Blinka 38 Β· GETT 36.
511 meetings from 28 companies (avg 18/co) β down 41% from Spring '25's 865. Email/click data not available for this cohort. Top companies: Meso AI 65 Β· Blinka 38 Β· GETT 36.
Spring '26: bigger list, lower click rate
2,242 emails (142% more than Spring '25) dropped click rate to ~55%. More cold contacts = lower engagement rate. Top companies: QConcierge 51 Β· Standard Electron 47 Β· Kanopy AI 44.
2,242 emails (142% more than Spring '25) dropped click rate to ~55%. More cold contacts = lower engagement rate. Top companies: QConcierge 51 Β· Standard Electron 47 Β· Kanopy AI 44.
Fall 2025 US showcase. Meeting data from the internal tracker β email campaign and click rate metrics were not captured in this source.
β Meeting TrackerUS Fall '25 US
Fall 2025
Companies28
Emails sentβ
Click rateβ target >80%
Unique visitorsβ
Total meetings511
Avg meetings / company~18
Meetings / visitorβ target 1.0
Funded rateTBD target >80%
Capital raisedTBD
Top 5 companies by meetings
Meso AI65
Blinka38
GETT36
Faradworks35
FuelUp31
All companies β meetings booked
The first tracked US showcase. Solid baseline β strong meeting volume (800) and reasonable funded rate (37%) but both click rate and meetings/visitor missed target.
β US Showcase Tracker (URL needed)US Fall '24 US
Fall 2024
Companies30
Emails sent1,500
Click rate70% target >80%
Est. unique visitors~1,050
Total meetings800
Avg meetings / company27
Meetings / visitor~0.76 target 1.0
Funded rate37% target >80%
Companies funded11 / 30
Capital raised$9.0M
Avg raise / company$818K
Best US showcase to date. Smaller, more curated email list with higher quality contacts drove both the click rate and meetings/visitor above target for the first time.
β Results deck β Tracker sheetUS Spring '25 US
Spring 2025
Companies34
Emails sent925
Click rate87% β target >80%
Est. unique visitors~805
Total meetings865
Avg meetings / company25
Meetings / visitor~1.07 β target 1.0
Funded rate44% target >80%
Companies funded15 / 34
Capital raised$12.1M
Avg raise / company$807K
US Spring '26 US LIVE
Spring 2026 Β· Mar 19 β ongoing
Companies28
Emails sent2,242
Click rate~55% target >80%
Unique visitors~1,000 incl. staff
Meetings (live)594
Avg / company~21
Meetings / visitor~0.59 target 1.0
Funded rateTBD
Capital raisedTBD
Investor tier mix
Tiers classify investor quality: T1 = top-tier VCs, T2 = established funds, T3 = angels and smaller funds.
Tier 16%
Tier 225%
Tier 369%
Top 5 companies (live)
Ranked by confirmed meetings booked so far.
QConcierge51
Standard Electron Co.47
Kanopy AI44
Parleo38
Prescalar33
Click rate = bitly link clicks Γ· emails sent. Visitor count from Looker Studio includes Antler staff. Meetings still accumulating β final count will be higher.
All companies β meetings booked (live)
Three core metrics: click rate (did investors open the site?), meetings per visitor (did they book?), and funded rate (did companies raise after?).
EU Oct '25 EU
October 2025 Β· vs Feb '25
Companies23 βΌβ30%
Emails sent2,747 β²+8%
Click rate59% β²+8pp
Unique visitors1,611 β²+29%
Meetings593 βΌβ5%
Avg / company26 β²+37%
Meetings / visitor0.37 βΌβ0.13
Personalization rate~60% β²+20pp
Funded rateTBD
Capital raisedTBD
EU Feb '25 EU
February 2025
Companies33
Emails sent2,550
Click rate51%
Unique visitors1,252
Meetings621
Avg / company19
Meetings / visitor0.50
Personalization rate~40%
Funded rate24%
Companies funded8 / 33
Capital raised$20.8M
EU Sep '24 EU
September 2024 Β· 1st edition
Companies65
Emails sent~2,077
Mass emails1,341
Personalized emails736
Meetings~300 est. (half of Feb '25)
Avg / company~5
Click rateβ
Funded rateβ
Capital raisedβ
EU Oct '25 meetings from analysis deck (excludes post-close webhook bookings). EU Sep '24 meeting count estimated from Feb '25 SteerCo deck which noted Feb '25 was "2x the first edition."
First tracked EU showcase. Low personalization rate (~40%) and low click rate (51%) held back performance. Despite 621 meetings, only 8 of 33 companies (24%) went on to raise external capital β well below the target of >80%.
β Results deck (slides 32+)EU Feb '25 EU
February 2025
Companies33
Emails sent2,550
Click rate51% target >80%
Unique visitors1,252
Meetings621
Avg / company19
Meetings / visitor0.50 target 1.0
Personalization rate~40%
Funded rate24% target >80%
Companies funded8 / 33
Capital raised$20.8M
What this showcase tells us
Low personalization = low click rate
Only ~40% of emails were personalized, which likely explains the 51% click rate. Investors who receive generic outreach rarely engage.
Only ~40% of emails were personalized, which likely explains the 51% click rate. Investors who receive generic outreach rarely engage.
24% funded rate is the floor
8 of 33 companies raised external capital. This is the baseline to beat. EU Oct '25 is expected to improve on this once funding data is available.
8 of 33 companies raised external capital. This is the baseline to beat. EU Oct '25 is expected to improve on this once funding data is available.
High capital despite low funded rate
$20.8M raised across just 8 companies averages $2.6M per funded company β suggesting the companies that did raise, raised well.
$20.8M raised across just 8 companies averages $2.6M per funded company β suggesting the companies that did raise, raised well.
Site conversion was the bottleneck
1,252 visitors produced only 621 meetings (0.50/visitor). Improving the showcase page experience and company profiles is the highest-leverage change for future EU campaigns.
1,252 visitors produced only 621 meetings (0.50/visitor). Improving the showcase page experience and company profiles is the highest-leverage change for future EU campaigns.
The first ever EU showcase. 65 companies β much larger than later editions. Limited data available; the SteerCo deck captured a snapshot just 4 days after launch.
β Results deck (slides 41+)EU Sep '24 EU
September 2024 Β· 1st edition
Companies65
Emails sent~2,077
Mass emails1,341
Personalized emails736
Launch date20 Sep 2024
Meetings (est.)~300
Avg / company~5
Funded rateβ
Capital raisedβ
What we know (SteerCo snapshot, 4 days in)
Emails still sending
As of Sep 24, some mass and personalized emails were still queued. The ~2,077 total is the intended send volume; final delivered count may differ.
As of Sep 24, some mass and personalized emails were still queued. The ~2,077 total is the intended send volume; final delivered count may differ.
Top clicked companies (day 4)
Neocarbon β 50 clicks
Mast β 30 clicks
CloudCycle β 27 clicks
Neocarbon β 50 clicks
Mast β 30 clicks
CloudCycle β 27 clicks
Top converting POCs
Christoph, Sarah, Kristian, Alan and RJ drove the most investor conversions. Personalized emails significantly outperformed mass sends.
Christoph, Sarah, Kristian, Alan and RJ drove the most investor conversions. Personalized emails significantly outperformed mass sends.
Implied meeting count
The Feb '25 SteerCo deck stated Feb '25 generated "~600 meetings, 2Γ the first edition." This implies EU Sep '24 ended with ~300 meetings total β roughly 5 per company across 65 companies.
The Feb '25 SteerCo deck stated Feb '25 generated "~600 meetings, 2Γ the first edition." This implies EU Sep '24 ended with ~300 meetings total β roughly 5 per company across 65 companies.
Data from EUR Showcase Oct '25 Analysis deck, slides 41β46. Click and meeting data captured Sep 24, 2024 β the showcase had been live only 4 days.
EU Oct '25 ran as a joint campaign across three regional teams: UK (7 companies), CE (8 companies), and Nordics (8 companies). Each region managed its own investor outreach. The campaign had more visitors than Feb '25 but a lower meetings/visitor rate β getting people to the site improved, but converting them to bookings is the remaining challenge.
β Results deckRegional breakdown
π¬π§ UK 7 companies
Meetings255 (43% of total)
Avg / company36
Emails sent1,067
Click rate57%
Personalization0% β
Cross-regional bookings49%
Tier mix (T1/T2/T3)3% / 9% / 67%
π©πͺ CE 8 companies
Meetings191 (32% of total)
Avg / company24
Emails sent1,165
Click rate82% β
Personalization79%
Cross-regional bookings36%
Tier mix (T1/T2/T3)6% / 18% / 69%
π³π΄ Nordics 8 companies
Meetings147 (25% of total)
Avg / company18
Emails sent515
Click rate89% β
Personalization98%
Cross-regional bookings73%
Tier mix (T1/T2/T3)1% / 11% / 48%
T1 (top VCs)T2 (established funds)T3 (angels / smaller funds)Untagged
Key takeaways
Personalization drives click rate
CE (79% personalized) hit 82% click rate. Nordics (98%) hit 89%. UK (0%) only 57%. The lesson is clear β generic mass-sends don't work in Europe. Fixing UK personalization could add 200β300 more visitors.
CE (79% personalized) hit 82% click rate. Nordics (98%) hit 89%. UK (0%) only 57%. The lesson is clear β generic mass-sends don't work in Europe. Fixing UK personalization could add 200β300 more visitors.
Smaller cohort = higher avg/company
Oct '25 had 10 fewer companies than Feb '25 but avg meetings/company jumped +37% (26 vs 19). Fewer companies = more investor attention per company.
Oct '25 had 10 fewer companies than Feb '25 but avg meetings/company jumped +37% (26 vs 19). Fewer companies = more investor attention per company.
Site-to-booking conversion is the big problem
593 meetings from 1,611 visitors = 0.37 rate (target 1.0). More people came to the site than Feb '25, but fewer booked relative to visits. Showcase page UX is the bottleneck.
593 meetings from 1,611 visitors = 0.37 rate (target 1.0). More people came to the site than Feb '25, but fewer booked relative to visits. Showcase page UX is the bottleneck.
CE is the quality benchmark
CE had the highest T1 booking rate (6%). 7/8 CE companies got at least one T1 meeting. High personalization + targeted CE VC network = best quality outcomes across all EU regions.
CE had the highest T1 booking rate (6%). 7/8 CE companies got at least one T1 meeting. High personalization + targeted CE VC network = best quality outcomes across all EU regions.
POC email performance
How many meetings each POC (Point of Contact / regional team lead) generated from their own emails.
Investor quality breakdown
Which top-tier VCs (Tier 1) engaged with companies vs which ones were in the network but didn't book any meetings.
All 23 companies β meeting detail
Full per-company breakdown with investor tier data. T1/T2/T3 = investor quality tiers.
Three core metrics: click rate (did investors open the site?), meetings per visitor (did they book?), and funded rate (did companies raise after?).
Nordic Spring '26 NOR LIVE
Spring 2026 Β· First standalone Nordic showcase
Companies16 10 bookable + 6 express interest
Emails sent517
Click rate65%
Unique visitors283
Meetings booked34
Meeting requests25
Total engagements61
Avg meetings / bookable co3.4
Funded rateTBD
More Nordic showcases coming
As Nordic campaigns run, they will appear here for comparison. Spring '26 sets the baseline.
The first dedicated Nordic showcase. 16 companies split into bookable and express interest groups. Data is live and still updating.
β» Refresh Nordic dataNordic Spring '26 NOR LIVE
Spring 2026 Β· Updated 18 Apr 2026
Companies16 (10 bookable + 6 express interest)
Emails sent517
Click rate65% target >80%
Unique visitors283
Total visits527
Meetings booked34 confirmed
Meeting requests25 form, not yet confirmed
Total engagements61 meetings + requests + replies
Avg meetings / bookable co3.4
Clicks to company sites295
Meeting button clicks53
Funded rateTBD
Team email performance
| Sender | Contacts | Clicks | Click rate | Bookings | Requests | Conv. |
|---|---|---|---|---|---|---|
| Michael | 137 | 83 | 61% | 13 | 11 | 19% |
| Kristian | 95 | 58 | 61% | 8 | β | 8% |
| Tobias | 68 | 51 | 75% | 5 | 2 | 10% |
| Jussi | 54 | 40 | 74% | 5 | 5 | 19% |
| Oscar | 52 | 29 | 56% | 1 | β | 2% |
| Clara | 29 | 23 | 79% | 1 | 3 | 14% |
| Markus | 7 | 5 | 71% | β | 4 | 57% |
| Total | 517 | 337 | 65% | 34 | 25 | 12% |
Conv. = (bookings + requests) Γ· contacts sent
Companies
Bookable β meetings booked
Volve8 meetings Β· 2 form Β· 1 reply
enkel5 meetings Β· 1 form
Visoid5 meetings Β· 1 form
Receipts4 meetings Β· 2 form
Aivot Labs2 meetings Β· 3 form
Cityweft3 meetings
Virtuall3 meetings
Yaay2 meetings Β· 1 form
Paralov2 meetings Β· 1 form
MultivisionDx0 meetings Β· 1 form
Express interest β clicks + form submissions
These companies use a contact form instead of direct booking. Investors click through to their page and submit interest.
Creem20 clicks Β· 5 form
Jiro12 clicks Β· 5 form
Eve7 clicks Β· 2 form
Wingbits5 clicks Β· 1 form
Saltfish5 clicks
Mappi4 clicks
Site analytics (snapshot 16 Apr)
Unique visitors283
Total visits527
Clicks to company sites295
Meeting button clicks53
#1 most visited: Creem29 sessions
#2 most visited: MultivisionDx25 sessions
#3 most visited: Volve23 sessions
Source: showcase.antler.co/nordics-spring2026 Β· Updated 18 Apr 2026. Meetings = confirmed bookings. Requests = form submissions awaiting confirmation. Engagements = 34 + 25 + 2 replies = 61.
π©πͺ
Central Europe β coming soon
No CE showcase data available yet.
Three core metrics: click rate (did investors open the site?), meetings per visitor (did they book?), and funded rate (did companies raise after?).
UK14 Spring '26 UK LIVE
Spring 2026 Β· Standalone UK showcase Β· In progress
CompaniesTBD
Emails sentTBD
Click rateTBD target >80%
Meetings (live)Live
Avg / companyβ
PersonalizationTBD
Funded rateTBD
UK13 Oct '25 UK
October 2025 Β· Sub-campaign within EU Oct '25
Companies7
Emails sent1,067
Click rate57% target >80%
Meetings255
Avg / company36
Personalization0% β
Cross-regional49%
Funded rateTBD
UK12 Feb '25 UK
February 2025 Β· UK slice of EU Feb '25 list
Companiesβ
Emails sentUK slice of EU list
Click rate8% β Mailchimp mass send
vs EU Feb '2551% personalized send
MeetingsTBD
Personalization0% β Mailchimp
Funded rateTBD
UK14 is the first standalone UK showcase β not bundled into a joint EU campaign. UK12 data captured before meetings tracker was established β meeting count not available.
Key takeaways
Mass email is effectively dead
UK12 (Mailchimp, 0% personalization): 8% click rate. EU Feb '25 (personalized, same audience): 51%. UK13 (mass send, different list): 57%. The lesson is consistent β personalised outreach dramatically outperforms mass sends.
UK12 (Mailchimp, 0% personalization): 8% click rate. EU Feb '25 (personalized, same audience): 51%. UK13 (mass send, different list): 57%. The lesson is consistent β personalised outreach dramatically outperforms mass sends.
UK13 punched above its weight
Despite 0% personalization, UK13 hit 255 meetings from 7 companies (36 avg/co) β well above the EU average of 26. The difference: 49% of meetings came from CE and Nordic investors, showing the joint-showcase model delivers real cross-regional value.
Despite 0% personalization, UK13 hit 255 meetings from 7 companies (36 avg/co) β well above the EU average of 26. The difference: 49% of meetings came from CE and Nordic investors, showing the joint-showcase model delivers real cross-regional value.
UK14: first standalone test
UK14 is the first showcase run entirely by the UK team without being part of a joint EU campaign. This is the key experiment: can the UK team drive comparable meeting volume and quality on their own?
UK14 is the first showcase run entirely by the UK team without being part of a joint EU campaign. This is the key experiment: can the UK team drive comparable meeting volume and quality on their own?
UK12 (Feb '25) used the same investor audience as the EU Feb '25 showcase β UK-only contacts from that list. Unlike the personalized EU campaign, UK12 was sent as a mass Mailchimp blast with no personalization. The result was an 8% click rate vs 51% for the same audience in EU Feb '25 just a few weeks later.
β UK12 Meeting TrackerUK12 Feb '25 UK
February 2025
AudienceUK contacts from EU Feb '25 list
Send methodMailchimp mass send
Personalization0%
Click rate8% β target >80%
MeetingsTBD scraping in progress
Funded rateTBD
8% vs 51% β same audience, different method
UK12 β Mailchimp mass send
Click rate: 8%
Personalization: 0%
Same UK investor list
Click rate: 8%
Personalization: 0%
Same UK investor list
EU Feb '25 β Personalized send
Click rate: 51%
Personalization: ~40%
Same UK investor list
Click rate: 51%
Personalization: ~40%
Same UK investor list
The only difference was the send method. The EU Feb '25 campaign used personalized 1:1 outreach through individual POC inboxes. UK12 used a mass Mailchimp blast. The 6Γ difference in click rate is the strongest evidence in this dataset that mass email is effectively dead for investor outreach.
UK13 (Oct '25) ran as the UK regional team within the joint EU Oct '25 showcase. 7 companies, all outreach managed by the UK team. Despite 0% personalization (all mass sends), the 57% click rate was significantly better than UK12 β likely due to improved targeting and a more engaged contact list.
β UK13 Meeting TrackerUK13 Oct '25 UK
October 2025 Β· Sub-campaign within EU Oct '25
Companies7
Emails sent1,067
Click rate57% target >80%
Personalization0% β
Total meetings255
Avg meetings / company36
Cross-regional bookings49%
Tier mix (T1/T2/T3)3% / 9% / 67%
Funded rateTBD
Top companies by meetings β UK13
Ralio97
xwatts β self-reported45
frmt44
Alphaloops26
Occam Industries16
Klaris15
First Concepts12
Ralio (97 meetings) drove 38% of all UK meetings. Without Ralio, UK avg would be 26/company. xwatts bookings are self-reported β webhook was missing so exact count uncertain.
Key observations
0% personalization, still 57% click rate
UK13 sent no personalized emails yet hit 57% β vs UK12's 8% with a similar approach. The difference is likely list quality and the fact that UK13 used the showcase platform (not Mailchimp) for outreach.
UK13 sent no personalized emails yet hit 57% β vs UK12's 8% with a similar approach. The difference is likely list quality and the fact that UK13 used the showcase platform (not Mailchimp) for outreach.
49% cross-regional meetings
Nearly half of UK companies' meetings came from CE or Nordic investors. This validates the joint EU showcase model β UK companies benefit from a broader investor pool even without UK-specific outreach from other regions.
Nearly half of UK companies' meetings came from CE or Nordic investors. This validates the joint EU showcase model β UK companies benefit from a broader investor pool even without UK-specific outreach from other regions.
Low Tier 1 engagement (3%)
Only 3% of meetings were with Tier 1 VCs. Fixing personalization (CE hit 82% click rate with 79% personalization) could meaningfully increase Tier 1 engagement for UK.
Only 3% of meetings were with Tier 1 VCs. Fixing personalization (CE hit 82% click rate with 79% personalization) could meaningfully increase Tier 1 engagement for UK.
UK14 (Spring '26) is the first standalone UK showcase β not bundled into a joint EU campaign. Data is being collected live as of April 2026.
β UK14 Meeting TrackerUK14 Spring '26 UK LIVE
Spring 2026 Β· First standalone UK showcase
CompaniesTBD
Emails sentTBD
Click rateTBD target >80%
Meetings (live)Accumulating
Funded rateTBD
Data extraction in progress
UK14 meeting tracker uses a different column structure (All Contacts Β· Booked time Β· Founder Β· Investor). Full per-company breakdown will be added once extraction is complete.
All data sources and showcase pages used to build this dashboard. Click any link to open the original file.
π Showcase Pages (investor-facing)
| Showcase | URL | Password |
|---|---|---|
| US Spring '26 | showcase.antler.co/us-spring26 | AntlerShowcaseUS |
| US Fall '25 | showcase.antler.co/us-fall25 | AntlerShowcaseUS |
| US Spring '25 | showcase.antler.co/us-spring25-lp | AntlerShowcase |
| US Fall '24 | showcase.antler.co/us-fall24 | AntlerShowcase |
| EU Oct '25 | showcase.antler.co/european-showcase-oct-2025 | AntlerEurope25 |
| EU Feb '25 | showcase.antler.co/europe-feb25 | AntlerEurope25 |
| EU Sep '24 | showcase.antler.co/europe | AntlerShowcase |
| Nordic Spring '26 | showcase.antler.co/nordics-spring2026 | Nordics2026 |
| Nordic Feb '25 | showcase.antler.co/nordics-feb25 | AntlerNordics25 |
| UK14 Spring '26 | showcase.antler.co/antler-s-uk-spring-showcase | AntlerShowcase |
| UK13 Oct '25 | showcase.antler.co/uk-showcase | AntlerShowcaseUK13 |
| UK12 Feb '25 | showcase.antler.co/united-kingdom-march-25 | AntlerUK |
πΊπΈ US β Data Sources
| Showcase | Source | Type | Notes |
|---|---|---|---|
| US Spring '26 | US Portfolio Showcase Tracker (Spring '26) | Google Sheets | Live Β· meeting data |
| Looker Studio β US Spring '26 site analytics | Looker Studio | Visitors, clicks, engagement | |
| US Fall '25 | Fall 2025 Antler Portfolio Showcase Tracker | Google Sheets | Meeting data only |
| US Spring '25 | US Spring '25 Results Deck | Google Slides | Results analysis |
| US Spring '25 Tracker Sheet | Google Sheets | Meeting data | |
| Looker Studio β US Spring '25 site analytics | Looker Studio | Visitors, clicks, engagement |
πͺπΊ EU β Data Sources
| Showcase | Source | Type | Notes |
|---|---|---|---|
| EU Oct '25 | EU Oct '25 Meeting Tracker | Google Sheets | Airtable-synced Β· meeting data |
| Looker Studio β EU site analytics | Looker Studio | Visitors, clicks, engagement (shared across EU editions) | |
| EU Showcase Results Deck β Oct '25 (slides 1β31) | Google Slides | Results analysis deck | |
| EU Feb '25 | EU Showcase Results Deck β Feb '25 (slides 32+) | Google Slides | Same deck as Oct '25 |
| EU Feb '25 Spreadsheet Data | Google Sheets | Feb '25 raw data | |
| EU Sep '24 | EU Showcase Results Deck β Sep '24 (slides 41+) | Google Slides | Same deck Β· Sep '24 data captured 4 days after launch |
π³π΄ Nordics β Data Sources
| Showcase | Source | Type | Notes |
|---|---|---|---|
| Nordic Spring '26 | Nordic Showcase Analytics (Netlify) | Internal dashboard | Live Β· meetings, engagements, site analytics |
π¬π§ UK β Data Sources
| Showcase | Source | Type | Notes |
|---|---|---|---|
| UK12 Feb '25 | UK Showcases β UK12 Meeting Tracker | Google Sheets | Airtable-synced Β· click rate from Mailchimp |
| UK13 Oct '25 | UK Showcases β UK13 Meeting Tracker | Google Sheets | Airtable-synced |
| UK14 Spring '26 | UK Showcases β UK14 Meeting Tracker | Google Sheets | Live |
AI-generated recommendations based on patterns across all Antler showcase campaigns. These are data-driven observations β not guesses. Each insight cites the specific numbers it's based on.
π΄ Critical gaps β act now
Funded rate is the #1 failure mode
No showcase has hit the >80% funded rate target. Best result: US Spring '25 at 44% (15/34). EU Feb '25 was 24% (8/33). This means even in the best case, more than half of companies that secured showcase meetings did not raise external capital. The showcase drives meetings β but something is broken in the meeting-to-funding conversion. Likely causes: investor quality (T3-heavy mix), founder pitch readiness, or follow-up process.
No showcase has hit the >80% funded rate target. Best result: US Spring '25 at 44% (15/34). EU Feb '25 was 24% (8/33). This means even in the best case, more than half of companies that secured showcase meetings did not raise external capital. The showcase drives meetings β but something is broken in the meeting-to-funding conversion. Likely causes: investor quality (T3-heavy mix), founder pitch readiness, or follow-up process.
Site conversion is far below target everywhere
The meetings/visitor target is 1.0. Best ever: US Spring '25 at 1.07 β. Every other showcase missed: EU Oct '25 0.37, EU Feb '25 0.50, US Fall '24 0.76, US Spring '26 ~0.59. With 1,611 visitors in EU Oct '25, hitting 1.0 would have meant ~1,018 meetings instead of 593 β +72% more meetings from the same traffic. The showcase page UX and booking flow is the highest-leverage fix available.
The meetings/visitor target is 1.0. Best ever: US Spring '25 at 1.07 β. Every other showcase missed: EU Oct '25 0.37, EU Feb '25 0.50, US Fall '24 0.76, US Spring '26 ~0.59. With 1,611 visitors in EU Oct '25, hitting 1.0 would have meant ~1,018 meetings instead of 593 β +72% more meetings from the same traffic. The showcase page UX and booking flow is the highest-leverage fix available.
UK personalization gap is a solved problem that keeps recurring
UK12: 0% personalization β 8% click rate. UK13: 0% personalization β 57% click rate (better, but still well below the >80% target). EU CE: 79% personalization β 82% click rate. EU Nordics: 98% personalization β 89% click rate. The data is conclusive. Yet UK14 (Spring '26) is in progress β it's unclear whether personalization is being applied. If not, the same results will repeat.
UK12: 0% personalization β 8% click rate. UK13: 0% personalization β 57% click rate (better, but still well below the >80% target). EU CE: 79% personalization β 82% click rate. EU Nordics: 98% personalization β 89% click rate. The data is conclusive. Yet UK14 (Spring '26) is in progress β it's unclear whether personalization is being applied. If not, the same results will repeat.
π‘ Patterns worth acting on
Smaller email lists β higher click rates
US Spring '25: 925 emails β 87% click rate, 865 meetings. US Fall '24: 1,500 emails β 70% click rate, 800 meetings. US Spring '26: 2,242 emails β ~55% click rate. The pattern is consistent and strong. Every time list size grows, click rate drops. Recommendation: cap UK14 and future EU lists; prioritise known warm contacts over volume.
US Spring '25: 925 emails β 87% click rate, 865 meetings. US Fall '24: 1,500 emails β 70% click rate, 800 meetings. US Spring '26: 2,242 emails β ~55% click rate. The pattern is consistent and strong. Every time list size grows, click rate drops. Recommendation: cap UK14 and future EU lists; prioritise known warm contacts over volume.
Fewer companies = more meetings per company
EU Oct '25 had 10 fewer companies than EU Feb '25 (23 vs 33) but avg meetings/company jumped +37% (26 vs 19). UK13 averaged 36 meetings/company with only 7 companies β highest in the dataset. When companies compete for fewer investor slots, each company gets more attention. Recommendation: consider capping cohort sizes, especially for EU where competition for the same investor pool is highest.
EU Oct '25 had 10 fewer companies than EU Feb '25 (23 vs 33) but avg meetings/company jumped +37% (26 vs 19). UK13 averaged 36 meetings/company with only 7 companies β highest in the dataset. When companies compete for fewer investor slots, each company gets more attention. Recommendation: consider capping cohort sizes, especially for EU where competition for the same investor pool is highest.
Cross-regional exposure creates real value
In EU Oct '25, 49% of UK companies' meetings came from CE or Nordic investors β not UK investors. Nordic companies got 73% of their meetings from outside their region. This validates the joint-showcase model. Recommendation: maintain or expand cross-regional investor outreach even if UK14 runs standalone β consider inviting CE/Nordic investors to UK14 profiles.
In EU Oct '25, 49% of UK companies' meetings came from CE or Nordic investors β not UK investors. Nordic companies got 73% of their meetings from outside their region. This validates the joint-showcase model. Recommendation: maintain or expand cross-regional investor outreach even if UK14 runs standalone β consider inviting CE/Nordic investors to UK14 profiles.
Fall '25 US: 41% meeting drop, unknown cause
US Fall '25 dropped from 865 meetings (Spring '25) to 511 meetings (Fall '25) β a 41% decline with the same number of companies. Email/click/visitor data is not available for Fall '25, so the root cause is unknown. This is a significant blind spot. Without email campaign data, it's impossible to know whether this was a list quality issue, a site issue, or something else entirely.
US Fall '25 dropped from 865 meetings (Spring '25) to 511 meetings (Fall '25) β a 41% decline with the same number of companies. Email/click/visitor data is not available for Fall '25, so the root cause is unknown. This is a significant blind spot. Without email campaign data, it's impossible to know whether this was a list quality issue, a site issue, or something else entirely.
π’ What's working β replicate this
US Spring '25 is the gold standard
The only showcase that hit both click rate (>80%) and meetings/visitor (>1.0) simultaneously. Key differences vs other showcases: smallest email list (925), highest click rate (87%), meetings/visitor above 1.0 (1.07). Also raised $12.1M with 44% funded rate. Replicate: curate a tight list of warm, relevant investors rather than going broad.
The only showcase that hit both click rate (>80%) and meetings/visitor (>1.0) simultaneously. Key differences vs other showcases: smallest email list (925), highest click rate (87%), meetings/visitor above 1.0 (1.07). Also raised $12.1M with 44% funded rate. Replicate: curate a tight list of warm, relevant investors rather than going broad.
CE personalization model is the EU benchmark
Within EU Oct '25, CE (79% personalization) achieved 82% click rate and the highest T1 investor meeting rate (6%) β with 7/8 companies securing at least one T1 meeting. CE is the only EU sub-region to consistently hit the click rate target. The CE playbook: high personalization + deep regional VC network. Apply this to UK and Nordics outreach.
Within EU Oct '25, CE (79% personalization) achieved 82% click rate and the highest T1 investor meeting rate (6%) β with 7/8 companies securing at least one T1 meeting. CE is the only EU sub-region to consistently hit the click rate target. The CE playbook: high personalization + deep regional VC network. Apply this to UK and Nordics outreach.
EU capital efficiency beats US despite lower funded rate
EU Feb '25: $20.8M raised from only 8 companies (24% funded rate) = $2.6M avg raise/company. US Spring '25: $12.1M from 15 companies (44%) = $807K avg/company. EU companies raise larger rounds on average β suggesting EU showcase companies may be at later/more fundable stages, or EU investors write larger cheques. Worth tracking whether EU Oct '25 follows the same pattern.
EU Feb '25: $20.8M raised from only 8 companies (24% funded rate) = $2.6M avg raise/company. US Spring '25: $12.1M from 15 companies (44%) = $807K avg/company. EU companies raise larger rounds on average β suggesting EU showcase companies may be at later/more fundable stages, or EU investors write larger cheques. Worth tracking whether EU Oct '25 follows the same pattern.
π― Showcase Page Scorecard
Every Showcase page reviewed and scored (April 2026). Presentation = format consistency, bullet quality, no empty entries, data density. Company Quality = traction strength, revenue/user metrics, team caliber. Scale: 1β10. Companies may have been removed or updated since the Showcase ran β scores reflect the page as it exists today.
| Showcase | Cos. | Format | Presentation | Company Quality | Standout Companies | Key Issues | |
|---|---|---|---|---|---|---|---|
| πΊπΈ US | |||||||
| US Spring '26 LIVE | 31 | Traction bullets | 8/10 | 9/10 | SUPERAGENT AI ($400K ARR in 4.5mo), withQ ($377K ARR), Founding Dev ($362K ARR, 49% MoM), OrianΓ© ($180K RR, Dior/L'OrΓ©al) | 3 cos use "Express Interest" instead of "Book a meeting" β reduces conversion | |
| US Fall '25 | 25 | Traction bullets | 7/10 | 7/10 | Meso ($630K ARR, Warner Music), FuelUp ($3M run rate in 10mo), Blockhouse ($50K MRR, 65% MoM) | Wagr (4K games only), Janix (pre-launch, pivoted). Quality floor too low for a few entries | |
| US Spring '25 | 36 | Long paragraphs β | 5/10 | 8/10 | Best overall campaign performance (87% click rate, 1.07 meetings/visitor). Companies had strong traction | Paragraph descriptions lack scannability. Investors must read walls of text β likely hurts meetings/visitor for weaker cos | |
| US Fall '24 | 30 | Traction bullets | 7/10 | 7/10 | Amulet/TeddyBot (early LOIs), broad sector coverage | Earliest US edition with bullet format. Some entries have thin traction data | |
| πͺπΊ EU | |||||||
| EU Oct '25 | 18 | Traction bullets | 7/10 | 7/10 | Telgea ($1.5M cARR, profitable), xWatts (Β£1.5M signed, 0% churn), UpMarket (β¬400K ARR, 110% NRR) | 5 companies removed retrospectively from page since original campaign | |
| EU Feb '25 | 30 | Traction bullets | 7/10 | 7/10 | $20.8M total raised β highest capital efficiency of any showcase | Page was temporarily removed. 3 companies removed retrospectively from the page | |
| EU Sep '24 | 65 | Inaccessible | β | β | Cannot assess β page inaccessible | First EU edition. 65 companies was far too many β avg 5 meetings/co | |
| π³π΄ Nordics | |||||||
| Nordic Spring '26 LIVE | 16 | Hybrid (desc + bullets) | 7/10 | 9/10 | Creem ($2M ARR, 5 people), Volve ($1M ARR in 90 days), Visoid ($1.3M ARR, 3K users), Jiro ($559K ARR) | Hybrid format adds a description paragraph before bullets β more verbose. Consistent but lengthy | |
| Nordic Feb '25 | 17 | Mixed (team in bullets) | 6/10 | 6/10 | Arcline ($1M ARR pipeline, Thommessen as customer) | Founder bios mixed into traction bullets β dilutes the data. Some highlights are just team credentials, not metrics | |
| π¬π§ UK | |||||||
| UK14 Spring '26 LIVE | 13 | Traction bullets | 8/10 | 7/10 | First Concepts (Β£129K ARR, 40+ agencies), Kulu (Β£600K waitlist), Occam Industries (military drone AI) | Clean format. 9/13 companies "Actively Fundraising" β strong signal for investors | |
| UK13 | 13 | Traction bullets β | 9/10 | 7/10 | Same companies as UK14 β page appears to show current cohort | Best format of any showcase. Pure data-first bullets, no filler. Model for all other regions | |
| UK12 | 7 | Hybrid (desc + bullets) | 7/10 | 7/10 | Praktiki (10% UK GPs, NPS 80+, Β£349K deals) | Labeled bullet categories (Elite Team, Rapid Adoption) add structure. Good but verbose | |
Key Findings from Showcase Page Review
Format evolution: paragraphs β bullets (correct direction)
US Spring '25 used long paragraph descriptions β the worst presentation score (5/10) despite the best campaign performance. All showcases from Fall '24 onward use traction bullets. Nordic editions add a "Company Description" paragraph before bullets (hybrid). UK13/UK14 format is the gold standard: pure data-first bullets, no padding. Recommendation: standardize on the UK bullet-only format across all regions.
US Spring '25 used long paragraph descriptions β the worst presentation score (5/10) despite the best campaign performance. All showcases from Fall '24 onward use traction bullets. Nordic editions add a "Company Description" paragraph before bullets (hybrid). UK13/UK14 format is the gold standard: pure data-first bullets, no padding. Recommendation: standardize on the UK bullet-only format across all regions.
US Spring '26 has the strongest company cohort
9/10 company quality β multiple companies with $200Kβ$400K+ ARR in under 6 months. SUPERAGENT AI ($400K ARR, 4.5mo), withQ ($377K ARR, 7mo), Founding Dev ($362K ARR, 49% MoM), VelociSure ($170K ARR, 100% pilot conversion). Nordic Spring '26 matches with Creem ($2M ARR), Volve ($1M ARR). These cohorts set a new bar.
9/10 company quality β multiple companies with $200Kβ$400K+ ARR in under 6 months. SUPERAGENT AI ($400K ARR, 4.5mo), withQ ($377K ARR, 7mo), Founding Dev ($362K ARR, 49% MoM), VelociSure ($170K ARR, 100% pilot conversion). Nordic Spring '26 matches with Creem ($2M ARR), Volve ($1M ARR). These cohorts set a new bar.
Cross-showcase company duplication
5 companies appear on 2 Showcase pages simultaneously: Occam Industries, First Concepts, Ralio (UK13 + EU Oct '25), Aivot Labs (EU Oct '25 + Nordic Spring '26), Honeyguide (US Fall '25 + US Spring '26). Risk: inflated total meeting counts. Benefit: broader investor exposure. De-duplicate when reporting totals.
5 companies appear on 2 Showcase pages simultaneously: Occam Industries, First Concepts, Ralio (UK13 + EU Oct '25), Aivot Labs (EU Oct '25 + Nordic Spring '26), Honeyguide (US Fall '25 + US Spring '26). Risk: inflated total meeting counts. Benefit: broader investor exposure. De-duplicate when reporting totals.
π Company Count Discrepancies
Differences between current Showcase page company count and dashboard data. Dashboard/tracker data is authoritative β companies are sometimes removed from Showcase pages retrospectively after raising or exiting.
| Showcase | On Page Now | In Dashboard | Ξ | Likely Explanation |
|---|---|---|---|---|
| US Spring '26 | 31 | 28 | +3 | 3 companies added to page after original tracker data |
| US Fall '25 | 25 | 28 | -3 | 3 companies removed retrospectively from page |
| EU Oct '25 | 18 | 23 | -5 | 5 companies removed retrospectively from page |
| UK13 | 13 | 7 | +6 | Page updated with more companies; tracker had 7 |
| EU Feb '25 | 30 | 33 | -3 | 3 companies removed retrospectively from page |
| US Fall '24 | 30 | 30 | β | Matches |
| Nordic Spring '26 | 16 | 16 | β | Matches |
| UK14 Spring '26 | 13 | 13 | β | Matches (updated from TBD) |
| Nordic Feb '25 | 17 | β | β | Not in overview table; separate Nordic edition |
| UK12 | 7 | β | β | No tracker data available |
π Data quality issues to fix
US Fall '25: no email/click/visitor data
The Fall '25 tracker only contains meeting data. Without email sent count, click rate, and visitor numbers, it's impossible to diagnose the 41% meeting drop vs Spring '25. Action: locate the email campaign records for Fall '25 and backfill this data.
The Fall '25 tracker only contains meeting data. Without email sent count, click rate, and visitor numbers, it's impossible to diagnose the 41% meeting drop vs Spring '25. Action: locate the email campaign records for Fall '25 and backfill this data.
US Fall '24: source link missing
Data exists in the dashboard but the original tracker URL is unknown. If the tracker no longer exists, the data cannot be verified or extended. Action: share the Fall '24 tracker link.
Data exists in the dashboard but the original tracker URL is unknown. If the tracker no longer exists, the data cannot be verified or extended. Action: share the Fall '24 tracker link.
Funded rate data is sparse
Only US Fall '24 (37%), US Spring '25 (44%), and EU Feb '25 (24%) have funded rate data. Four showcases (US Fall '25, US Spring '26, EU Oct '25, all UK) are TBD. Without this data, the most important long-term metric β did the showcase actually help companies raise? β cannot be tracked. Action: establish a funded rate tracking process for all active cohorts.
Only US Fall '24 (37%), US Spring '25 (44%), and EU Feb '25 (24%) have funded rate data. Four showcases (US Fall '25, US Spring '26, EU Oct '25, all UK) are TBD. Without this data, the most important long-term metric β did the showcase actually help companies raise? β cannot be tracked. Action: establish a funded rate tracking process for all active cohorts.
UK12 meeting count unknown
UK12 (Feb '25) predates the Airtable meeting tracker. Only the Mailchimp click rate (8%) is known. Meeting count, company count, and investor details are not available. Action: check if any manual records exist for UK12 meetings.
UK12 (Feb '25) predates the Airtable meeting tracker. Only the Mailchimp click rate (8%) is known. Meeting count, company count, and investor details are not available. Action: check if any manual records exist for UK12 meetings.
EU Sep '24 Showcase page inaccessible
The EU Sep '24 page (showcase.antler.co/europe) could not be accessed with any known password. As the 1st edition EU Showcase with 65 companies and ~300 meetings, historical comparison is limited. Action: verify whether the page is still live or has been permanently removed.
The EU Sep '24 page (showcase.antler.co/europe) could not be accessed with any known password. As the 1st edition EU Showcase with 65 companies and ~300 meetings, historical comparison is limited. Action: verify whether the page is still live or has been permanently removed.