This question was presented to me over at Peerpong:
"Should our early stage company take money from a strategic investor?"
Strategic investors are usually difficult to work with if they have a strong influence as board member or major shareholder. They have their corporate interest and objectives that might not sync with your goals as a startup. I would just be very cautious and really discuss any areas of potential strategic conflict with that company before getting their money in.
The plus is obviously getting such an endorsement from a company within your space, potential "free" resources and industry connections and intelligence.
I would feel more comfortable if a strategic investor was an equal with another investor(s).