You don't need traction to get that. There are a few big investors that are willing to buy common stock. I have one owning part of my company today. I had zero traction, just an early functional product.

I would never allow an investor into my company under any other terms: they eat the same dog food I or anyone else does. You don't need their money, there is a lot of money flowing around out there, so set the terms how you see fit and find the investor to match it.