What this dashboard measures
This is a marketing-attribution view of the SCI capital-raise funnel — where investors come from and how they move from first touch to funded. The dashboard answers two related questions: where did our funded capital come from, and how is the current pipeline of leads converting.
The funnel runs left-to-right through six stages: Lead (deal created) → DCB (Discovery Call Booked) → DC Done (Discovery Call Completed) → Decision CB (Decision Call Booked) → Decision Done (Decision Call Completed) → Funded (Investment record exists).
The three windowing modes
The Anchor dropdown changes which question the funnel is answering. Each mode produces a meaningfully different funnel shape from the same underlying data.
Funded-anchored (default)
Of the investments funded in the window, trace each one backward through the funnel. Every row is a subset of the Funded count — the same population traced through their journey. Best for attribution: "where did our funded capital come from?"
The funnel typically shows Funded = Lead at top and bottom, with intermediate rows being subsets (some funded investors didn't go through every stage; some skipped DCB entirely if they came in via direct closer outreach or migration).
Lead-anchored
Of the deals created in the window, trace forward through the funnel. The Lead row is the cohort size; each downstream row is a subset that reached that stage. Best for cohort analysis: "how is this batch of leads converting?"
Watch out: recent windows will show a tiny Funded count because leads take 2-6 months to fund. Use longer windows (12 months, all-time) for honest funded-rate reads in this mode.
Activity-anchored
Each row counts events that happened in the window, independent of cohort. The Lead row counts deals created in window; the DCB row counts deals that hit DCB in window; etc. The funnel can be non-monotonic — DCB row can exceed Lead row if old leads are booking discoveries this period.
Best for operational tracking: "what activity happened across our funnel this period?" This is the right mode for closer/setter performance reads where you don't care about cohort relationships.
How the modes look on the same data
Same data, three modes, three different funnel shapes. Here's what a typical "Last 90 days" window might show with each mode active:
- Funded-anchored: Lead = 35 · DCB = 25 · DC Done = 22 · Funded = 35 (the cohort floor and ceiling are equal — every funded investor was a lead at some point)
- Lead-anchored: Lead = 297 · DCB = 188 · DC Done = 104 · Funded = 32 (each row is a subset of Leads; Funded count is small because recent leads haven't matured)
- Activity-anchored: Lead = 297 · DCB = 236 · DC Done = 139 · Funded = 44 (DCB exceeds Leads because old leads are booking discoveries this period; Funded is the true funded-this-window count)
Notice how DCB differs across modes (188 vs 236) — the gap of 48 is "deals booking discoveries this window whose lead was created before this window." That's a real business signal: longer-cycle leads still moving through the pipeline. Funded differs too (32 vs 44) — 12 of this window's fundings came from older lead cohorts.
Caveat — at All time, the modes converge. When the range is unbounded ("All time"), the cohort filter has nothing to filter against, so all three modes read essentially the same dataset and produce nearly identical funnels. The mode difference only becomes visible when you constrain the range (Last 30/90/180 days, custom dates). If you toggle Anchor at All time and nothing changes, that's expected — switch to a constrained range to see the modes diverge.
The three attribution views
Each panel has its own view dropdown. The two panels can show different views simultaneously — that's the side-by-side comparison feature.
First-touch
Where did the contact originally come from? Reads hs_analytics_source on the deal — this is the source recorded when the contact first entered HubSpot. Immutable, complete historical coverage. The most reliable attribution for "what channel acquired this investor."
Last-touch (at milestone)
What channel were they on at a specific milestone moment? When you select Last-touch, a milestone picker appears: DCB, Committed, or Closed Won. The dashboard reads traffic_source_0_before_<milestone> — a workflow-stamped value captured the moment the deal hit that stage.
Coverage starts Jan 2026 for milestone-snapshot stamps. Earlier deals that hit those stages before the workflow was running will show as "Unstamped" in this view. Expect the Unstamped segment to shrink over time as more deals pass through milestones with the workflow active.
Latest source (now)
Where is the contact most recently touching us? Reads hs_analytics_latest_source on the deal — reflects current state, mutable. Most useful for re-engagement questions: "of our funded investors, which channels are they currently coming back through?"
Investment type filter
Investments are categorized by type, which determines what kind of attribution they represent:
- New — first-time investor. Pure acquisition attribution. The channel that brought them in earned the credit.
- Repeat — prior investor in a different fund. Cross-fund retention. Their original acquisition source still gets credit, but this is about retention not acquisition.
- Bolt-On — additional investment within the same fund. Within-fund stickiness. Same investor topping up.
- All — every investment regardless of type. Most accurate for total volume questions.
The filter affects the Funded row, capital totals, and breakdown table. The KPI sublines always show the full type breakdown ("22 new · 11 repeat · 2 bolt-on") regardless of filter — so you can always see the full picture even when filtering.
Drill-down — clicking the numbers
Most numbers and segments are clickable. Each click opens a slide-in panel showing the underlying records:
- Click any funnel bar segment (e.g., the Meta-colored part of the DCB row) → see the deals that hit DCB from Meta.
- Click any funnel row's count (the big number at the right of each bar) → see all records for that stage across all sources.
- Click any KPI card → see all records for that metric.
- Click any cell in the breakdown table → see records for that source × stage combination.
Inside the drill-down panel, each row is clickable and opens that record (deal or investment) in HubSpot in a new tab.
How attribution is anchored — per-contact, not per-deal
This dashboard answers "how was this investor procured" — not "what email did they click before their fourth investment." Attribution is anchored to the contact's first Closed Won deal, regardless of which deal the current Investment is technically tied to.
The reasoning: an investor is "won" exactly once. That moment is when a channel converted a stranger into a customer. Subsequent deals from the same contact — repeat investments in new funds, bolt-ons within the same fund, follow-on commitments — are relationship management, not channel-driven re-acquisition. Crediting Jimmy's fourth investment to whatever email he happened to click last week would dilute the truth of where Jimmy actually came from.
How it works in practice: When the dashboard reads source attribution for any Investment, it walks the matched deal's contact-graph to find the earliest Closed Won deal in that contact's history. The source values (first-touch, last-touch, latest source) are read from that procurement deal, not the directly-matched deal. If no Closed Won exists anywhere in the contact's history, the dashboard falls back to reading the matched deal directly.
Practical consequence: Repeat investors don't get re-attributed every time they fund. Joe Fairless's Fund 5 commitment in 2026 inherits the source attribution from his Fund 3 deal in 2023 — because that's when Joe was actually procured. ROAS calculations are honest as a result: spend on a channel is divided across all the lifetime capital from contacts that channel acquired, not split arbitrarily across deals.
What this means for the source views. First-touch, last-touch, and latest source all answer the same conceptual question — where did the investor come from — using different signals on the procurement deal. First-touch reads the contact's original entry source (most reliable, fully populated). Last-touch reads workflow-stamped values at a milestone (less coverage, depends on stamping reliability). Latest source reads current contact state (mutable, useful for re-engagement reads).
Investment → deal matching
Investment records are matched to deal records via the investor's email address. Matching searches across all HubSpot pipelines because older Fund 4 deals live in legacy pipelines, not just the Main Sales Pipeline.
The matcher uses a multi-step approach:
- Primary: deal-side
email mirror lookup. Fast.
- Fallback: if no match, search HubSpot contacts by email (including
hs_additional_emails for investors with multiple addresses), then look up that contact's associated deals.
- Selection: if the contact has one deal, use it. If multiple, prefer one whose
amount is within 10% of investment_amount; ties broken by Closed Won date closest to funds_received.
- Stage history: aggregates across all of the contact's Main Sales Pipeline deals (Rule C-prime), so duplicate-deal records don't create funnel gaps.
Match rate is currently around 95%. The unmatched-investments banner appears at the top when any window contains unmatched records — click "View list" to see them. These are typically investors with no corresponding deal record at all (older funds, direct-to-InvestNext investors).
Reading caveats
Funnel-stage history is Main Sales Pipeline only. When the matched deal is in a legacy pipeline, the Investment still contributes to Funded counts and source attribution, but its DCB / DC Done / Decision data isn't read because the stamping workflow only runs in the Main Sales Pipeline. Some funded-anchored funnels will show fewer DCBs than Funded as a result — that's honest, not a bug.
2023-12-31 cluster. Many investments funded on Dec 31, 2023 — that's a real launch-week cohort for Fund 4 (which started Nov 2023), bunched naturally by year-end tax pressures and capital-call activation. Not a placeholder date.
"Unstamped" in the source breakdown. Records appear here when their associated deal has no hs_analytics_source, or when no deal could be matched at all. These investments still count toward Funded totals; they just lack channel attribution.
Glossary
DCB — Discovery Call Booked. The pipeline stage where a setter has scheduled a discovery call.
DC Done — Discovery Call Completed. The discovery actually happened.
Decision CB / Decision Done — Decision Call Booked / Completed. Second meeting in the funnel, typically with the closer.
Committed — InvestNext-side commitment confirmed. Comes after Decision Done in the funnel; not displayed as a funnel row but available as a milestone for last-touch attribution.
Closed Won — deal-side close in HubSpot. Used as the time anchor for matching investments to deals.
Funded — actual wire received. Anchored on the Investment record's funds_received date.
Type of Investment — categorization on each Investment record: New / Repeat / Bolt-On.