Scale Finance LLC, the leading provider of CFO & Controller support services in North Carolina, announces the firm’s expansion into Florida. Leading Scale’s local presence in Florida is Steven zum Tobel, a veteran finance and accounting executive. Steve’s executive management career, spanning over twenty years, includes experience building high growth companies in the functional areas […]
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Rex Healthcare Launches Rex Strategic Innovations to Advance Health-Care Innovation Novel Effort Aims to Improve Medical Care and Support Promising Ideas Rex Healthcare is proud to announce the creation of Rex Strategic Innovations, a unique effort to spur healthcare innovation, improve healthcare delivery and foster job creation. The initiative will include Rex Health Ventures, one
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Source: Pascal-Emmanuel Gobry There are lots of trends people have been talking about in tech financing–“superangels”; delayed IPOs; secondary market sales; and more. But so far, few people have been putting the dots together: the entire financing landscape for companies is changing.There are lots of trends people have been talking about in tech financing–“superangels”; delayed
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Enveniam, Inc., an innovative outdoor lighting service and controls technology, recently closed a major capital investment to support continued expansion. The Company is headquartered in Atlanta, GA. With additional locations in Central Florida and Southern California, Enveniam delivers a wide range of lighting solutions to property managers throughout the country. In conjunction with this institutional
SF Closes Capital Raise for Enveniam, Inc. Read More »
The Triangle Startup Factory located in Durham, NC in the American Tobacco Campus recently launched its first class of 5 companies that are participating in its accelerator program. These initial five companies reflect a variety of software and application opportunities in social media, mobile applications, medical records, advanced data archiving, community building, and personal training.
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Source: Scott Maxwell, Founder, OpenView Venture Partners Most expansion stage companies execute marketing strategies for their target prospects who help them build their customer base over the long term, but they lack marketing strategies directed towards the “money guys” who might invest in or acquire their company in the future. In this post I try to demonstrate
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Source: Brian Hamilton, co-founder and CEO of Sageworks. We live and we learn. In the time it’s taken me to build two companies, I have learned and more importantly, lived, these mistakes. I hope these pieces of advice can help both aspiring and existing entrepreneurs succeed in starting and running their own businesses. Here are
The 7 Biggest Financial Mistakes Entrepreneurial Businesses Make Read More »
Angel Capital Association Public Policy Flash The JOBS Act (Jumpstart Our Business Startups Act) is aimed at making it easier for small businesses to raise capital and have positive exits and thereby creating jobs. The president signed the legislation into law last week. The JOBS Act is complicated, but we wanted to provide you with
JOBS Act – “Jumpstart Our Business Startups” Becomes Law Read More »
Source: Brendan Cournoyer While my posts typically cover topics like content marketing, SEO and social media, lately I’ve been reading a lot about another business topic that I felt inspired to sound off on. It involves giving employees the option to work from home. My colleague Devon McDonald recently touched on this topic in an
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Scale Finance LLC, the leading provider of CFO & Controller support services in North Carolina, announces the firm’s expansion to the Mid-Atlantic Region initially serving Washington, DC, Northern Virginia and Maryland. Leading Scale’s local presence in the region is Carl Paladino, a veteran financial executive. Carl’s executive management career, spanning over twenty years, includes experience
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Graf Research™ unleashes innovation by developing ideas into disruptive technologies. The Graf mission aims to perform research, provide services, apply analytics, and create products that enable secure, high-performance, embedded, and adaptive computing solutions.
When the Director of Finance for Graf was leaving the company, Graf needed an experienced financial team to get them through the transition. Managing Director Gary Hayes was introduced to Graf and determined that CFO Rendy Richards and Controller John Schefke would be an ideal combination. These two were particularly important because Graf is a U.S. Government contractor, and both Richards and Schefke have strong backgrounds and deep skill sets in this industry.
The two Scale Finance professionals quickly responded to Graf’s time-sensitive need, logically split up the work, learned the DELTEK version used by Graf, introduced more efficient processes and techniques, and helped meet their financial reporting needs. Our professionals also determined that the Senior Staff Accountant was underutilized and helped her grow into a permanent, cost-effective Controller role.
FX HedgePool (FXHP)
FX HedgePool (FXHP) is a New York and London-based highly innovative fintech company. FXHP is an award-winning peer-to-peer matching platform that optimizes the FX swaps market. The Company eliminates market impact and minimizes the effects of volatility – significantly improving outcomes for all investors.
FXHP’s unique credit model separates liquidity from credit, creating a new source of safe and dependable liquidity for the swaps market. The Company exists for the community, guided by the community with a “win-win-win” commitment that helps members, underlying investors, and banks yield safer and better results.
Scale Finance began serving FXHP years ago, providing annual business valuations to support 409A compliance for the Company’s management incentive equity plan. During this period, Scale Finance Managing Director Dave Gilroy advised FXHP about potential strategic corporate transactions. In 2022, the Company decided to raise institutional venture capital. Scale Finance managed this process from end to end, resulting in a highly successful closing of an $8 million Series A equity financing led by Information Venture Partners with participation from Fidelity International Strategic Ventures and NAventures (National Bank of Canada’s corporate venture capital arm).
Scale Finance continues to provide periodic business valuation support.
Heritage Trust
As the first independent trust company in New Mexico, established in 1994, Heritage Trust (HT) uses innovation, experience, and flexibility to meet clients’ needs. HT provides a full range of trust services, e.g., acting as their client fiduciary for their Trust assets, being an executor or personal representative related to the distribution of estate assets, managing and growing financial assets, and preparing annual tax returns for trusted clients.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO and managing Controller support since February 2021. We have streamlined their monthly and year-end close process and established budget/forecast capability to support management. Their business has grown over 40% since Scale Finance has been involved with the company’s financial management. Gary has also participated in Board Meetings as and when needed.
Southland Transportation Company
Southland Transportation provides transport, supply chain, and campus management services on a local, regional, and nationwide basis. When Southland contacted Scale Finance, they had a strong accounting staff but no Controller or CFO. After an unsuccessful search for a full-time CFO, Southland engaged CFO and Partner Rendy Richards as their fractional CFO.
Over 18 months, Richards helped integrate a new acquisition, made improvements in accounting and finance processes, developed the company’s first-ever annual budget, helped with the onboarding of a new Controller, and provided business valuations in conjunction with Scale Finance’s Managing Director, Dave Gilroy.
For over six decades, Cooper Electrical has served a wide range of industrial, commercial, and municipal customers across the Southeast, providing best-in-class Electrical Design/Build, BIM, Prefabrication, Instrumentation & Controls, and Calibration services. Cooper’s expertise spans multiple major markets, including bio-pharmaceutical, chemical, water & wastewater, power generation, manufacturing, gas production & transmission, and food & beverage.
When Cooper’s CFO left the company for another opportunity, the owners engaged Rendy Richards as interim CFO while they searched for a full-time replacement. On a half-time basis over eight months, Richards kept the company’s financial organization humming, made improvements in several business processes, initiated a detailed financial forecast, and met with the owners to share his observations and recommendations on the most feasible way to staff their finance and accounting department cost-effectively.
SymmetryRX, LLC
SymmetryRX is a leading provider of eSampling services allowing Pharma Manufacturing companies to access physician practices for the ordering and distribution of drug samples across the US. The Company was acquired in November 2018 from Aptus Health, a wholly-owned subsidiary of Merck. Since then, the company has expanded its robust suite of services that provides pharma manufacturing executives, brand managers, sales managers, product managers, and launch managers the ability to help more patients have greater access to samples, improving medication adherence and healthcare outcomes.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO Services to the Company since 2018 and was integral in the acquisition process, facilitated initial financing to support the company with a 7A SBA loan package of $600 thousand and an SBA-backed $300 thousand LOC. Since then, Gary has been actively providing CFO support across financial reporting, budgeting, forecasting, cash planning, and strategic planning.
