Terms of service

1. The agreement

These terms apply whenever you use Yellowtail. By creating an account or using the service you agree to them, together with our privacy notice, which forms part of this agreement. If you are accepting on behalf of a company, you confirm you have the authority to bind it, and “you” means that company.

2. The preview

Yellowtail is currently an invite-only preview. It is free unless we have agreed fees with you in writing. Features will change, and occasionally break. We may change or withdraw functionality during the preview without notice, and we do not commit to any service level while it lasts. We will not do anything irreversible to your data without telling you first.

3. Who can use it

You need to be at least 18 and using Yellowtail for business purposes. Accounts are for named people, not shared logins — if a colleague needs access, invite them. We may decline or withdraw an invitation at our discretion during the preview.

4. Your account and your people

Keep your credentials to yourself and tell us promptly if you think somebody else has got into your account. You are responsible for everything done under it, and for the people you invite into your workspace — including guests, and including client founders if you are an agency running raises on their behalf. Where you are an agency, you confirm you have the authority from your client to put their fundraise into our product.

5. Acceptable use

• Do not scrape, crawl, bulk-export or resell our catalog, and do not use it to build or train a competing dataset, model or product.
• Do not attempt to break, overload, probe or reverse-engineer the service, or access data belonging to another workspace.
• Do not share your access with anyone outside your organisation, or use one seat to serve several companies without telling us.
• Do not upload anything unlawful, and do not upload anything you do not have the right to give us.
• Do not use the service in breach of sanctions or export controls that apply to you.

6. Outreach is yours

The product helps you decide who to contact. The contacting is entirely yours. When you email, message or call somebody you found through Yellowtail, you are the sender and the data controller for that message, and you are responsible for the rules that apply where you and your recipient are — the UK GDPR and PECR, the EU GDPR, CAN-SPAM and their equivalents elsewhere.

In practice that means: send relevant, individual outreach about your own fundraise rather than bulk campaigns; identify yourself honestly; honour an opt-out the first time you receive one, and tell us so we can record it against the catalog. Using catalog data for anything other than your own fundraising — selling to the people in it, recruiting from it, or loading it into a marketing platform — is outside the licence in section 8.

7. Your data

Everything you put into your workspace stays yours. You grant us the licence we need to host, process and display it in order to provide the service, and nothing beyond that. You confirm you have the right to give us what you upload. We handle it as described in our privacy notice. You can export it at any time, and you can ask us to delete it.

8. Our data and the catalog

The Yellowtail catalog, the software, and everything we publish through it remain ours. Your account grants you a personal, non-exclusive, non-transferable licence to use the catalog inside your own fundraising, for as long as your account is open. It is not a right to redistribute it, republish it, or keep a copy of it working after you leave. An export you take is for your own records and remains subject to section 6.

9. Feedback

If you tell us how to make the product better — and we hope you will — we can use that freely, without owing you anything for it. This does not give us any right to your confidential information; it just means a good suggestion does not come with strings.

10. Automated and generated output

Parts of the product are produced by machine: signal summaries, suggested tags, fit scores, and any message the product drafts for you. They can be wrong, out of date, or confidently mistaken about who somebody is. Open the source we link before you rely on anything, and read anything we draft before you send it. Once you send it, it is your message and section 6 applies to it.

11. No investment advice

This one matters. Yellowtail provides information and research tools. Nothing in the product is investment advice, a financial promotion, a recommendation, or a prediction that any investor will fund you. Investment decisions — yours and theirs — are your own, and we make no promise about any fundraising outcome. If you need advice about a transaction, take it from somebody regulated to give it.

12. Accuracy

We work hard to keep the catalog current and to source every signal, but information about private markets is incomplete and changes constantly. People change firms, funds close, and a public statement can be out of date the week after it is made. We provide it as-is and do not warrant that it is complete or error-free. Check anything you are about to act on, and tell us when we have it wrong.

13. Confidentiality

Each of us may learn things about the other that are obviously not public — your pipeline and your raise, our unreleased features and pricing. Neither of us will disclose the other's confidential information except to people who need it and are under equivalent obligations, or where the law requires disclosure. This survives the end of the agreement.

14. Availability and support

We aim to keep the service running and to answer you quickly, but we do not guarantee uninterrupted availability during the preview, and support is best-effort by email rather than a contracted response time. We will give reasonable notice of planned downtime where we can.

15. Warranties

Except where these terms say otherwise, the service and the catalog are provided as-is and as-available. To the extent the law allows, we exclude all implied warranties, conditions and terms, including as to satisfactory quality, fitness for a particular purpose, accuracy and non-infringement.

16. Liability

Nothing in these terms limits liability for death or personal injury caused by negligence, for fraud or fraudulent misrepresentation, or for anything else that cannot lawfully be limited.

Subject to that, and to the fullest extent the law allows: neither of us is liable to the other for indirect or consequential loss; we are not liable for lost profits, lost revenue, funding you did not raise or raised late, lost business opportunity, damage to reputation, or loss of data to the extent an export would have avoided it; and our total liability arising out of or in connection with these terms is limited to the greater of the fees you paid us in the twelve months before the claim and £100.

17. Indemnity

You will indemnify us against claims, losses and reasonable costs arising from your use of the service in breach of these terms — in particular from outreach you send, from content you upload that you did not have the right to upload, and from any use of catalog data outside the licence in section 8.

18. Suspension and ending it

You can close your account at any time. We can suspend access immediately where we reasonably believe these terms are being breached or the service is being put at risk, and we will tell you why. We can end the agreement on reasonable notice, including if we withdraw the preview — in which case you will have a fair opportunity to export your data before access stops. Sections 7 to 9, 11 to 13 and 15 to 17 survive.

19. Changes to these terms

We may update these terms as the product changes. If a change is material we will tell account holders by email before it takes effect. Continuing to use the service after that means you accept the new version; if you would rather not, close your account.

20. The general bits

• Assignment. You may not transfer these terms without our consent. We may transfer them to a group company, or to a buyer of the business, on notice to you.
• Entire agreement. These terms and the privacy notice are the whole agreement between us on this subject and replace anything said beforehand — though nothing here excludes liability for fraudulent misrepresentation.
• Severability. If a court finds part of these terms unenforceable, the rest carries on.
• No waiver. If we do not enforce something straight away, we have not given up the right to enforce it later.
• Notices. We will reach you at the email address on your account, so keep it current. You can reach us at legal@yellowtail.club.
• Force majeure. Neither of us is liable for a delay caused by something genuinely outside our control.
• Third parties. Nobody other than you and us has rights under these terms.
• Governing law. These terms are governed by the laws of England and Wales, and the courts of England and Wales have exclusive jurisdiction.