Jason's advice is excellent and it closely mirrors our experience. The investor community is extremely risk adverse at an early stage. We have a base of over 50k potential customers, a social media reach that extends beyond 1m, and they still want to see a fully developed, monetized platform. Everyone seems to think that all you have to do is build a simple app. Our platform incorporates some fairly sophisticated technology and--as you're finding-- it's not that simple. On top of that, we are terrified of explosive growth from our POC that we can't afford to service.
As you go about looking for money, keep in mind that many of the Bay area investors made a lot of money on corporate stock options; they may never have actually been in your shoes starting and bootstrapping a business without significant wealth to draw on. The Bay area is also a club. You may need to recruit (for substantial equity) an "insider" just to get in the door. High priced lawyers can be an asset as well.
My advice: have deep pockets. It costs more and takes longer than you may anticipate. And be sure you are passionate enough about your business to be in for the long haul. Personally, I would never do this just for a product. For me, and many on my team, ThinkTLC is a heart felt, all consuming passion.