- DocSend reported average deck review time of 2 minutes 44 seconds in Q3 2021[1], and under three minutes in 2022[2].
- In DocSend's data, decks that raised money were read for much longer than those that did not[3].
- Investors leaned into product and business model sections, and spent more time on the slide describing the company's purpose[2].
- Put the takeaway in every slide title, use one idea per slide, and date every traction number.
What the data says
DocSend, a document-sharing service used widely for fundraising, publishes research on how investors interact with decks. Its numbers are some of the best evidence we have on deck reading habits.
- Time is short. DocSend reported that average review time hit a record low of 2 minutes 44 seconds in the third quarter of 2021[1], and TechCrunch, covering its 2022 research, reported investors spending 24% less time on decks than in 2021[2].
- Funded decks get read for longer. DocSend's research found that decks that went on to raise were read for much longer, over four minutes in its 2020 data, compared with about a minute and a half for those that did not[3].
- Some sections matter more. The 2022 coverage noted that investors leaned into the product and business model sections, and spent more time on the slide describing the company's purpose[2].
The causation probably runs both ways: investors spend longer on decks they find promising. But the lesson for founders is the same. You have a few minutes to make an investor want to keep reading.
The skim
Investors read differently, but a common pattern is easy to recognise. They check the first slide for what you do, jump to traction and team, glance at the market and the ask, and only go back to the problem and product if the numbers interest them.
Make each slide survive the skim
Put the takeaway in the title
Compare "Traction" with "Revenue grew 3× in 12 months, with 40% from repeat customers". The second works even if the chart is never read.
One idea per slide
If a slide makes two points, an investor skimming will catch neither. Split it. A 14-slide deck with one idea each reads faster than a 10-slide deck with two.
Date every number
"10,000 users" means nothing without a date and a trend. Show numbers by month, and say when the latest figure is from.
Show the real product
Investors linger on product sections[2]. Use real screens or photos rather than mockups of features you have not built.
Make it readable on a phone
Many investors open decks on their phones. Large type, high contrast and simple charts survive a small screen. Dense tables do not.
Design is a signal
A clean, consistent deck does not win funding on its own, but it changes how the content is read. It signals a careful team. A deck that looks like the product and the website signals a company that knows what it is. A messy deck makes every number on it feel less certain.