Source: Amanda Maksymiw, OpenView Partners John Greathouse, Andrew Parker, Alex Taussig, Sarah Tavel, and Rob Go switch gears to look at some of the most common reasons why young companies ultimately disappoint. Based on your experience, what are some of the most common reasons why a startup company fails? John Greathouse, General Partner, Rincon Venture […]
Why Do Startups Fail? VC Roundtable Read More »
Source: Neil Patel Revenue is the most important metric when it comes to starting a business. But it’s not the only metric you should be concerned with. Of course some companies have gotten very creative when it comes to justifying their business model to investors, but I don’t think those are the kinds of metrics
9 Metrics Every Entrepreneurial Company Should Track Read More »
Source: Catherine Clifford – Entrepeneur.com The credit crunch for small businesses is expected to ease this year, but entrepreneurs may still need to be creative in their search for financing. “The lending market for small business in 2012 is going to be much better — the best year after the recession,” according to Rohit Arora,
Top Sources of Small Business Financing Read More »
Businesses registered as either a qualified business venture (QBV) or qualified grantee business (QGB) for purposes of the state income tax credit established by the North Carolina General Statutes 105-163.010 et seq., are required to renew their registration annually. Individuals, subject to the limitations contained in G.S. 105-163.012, who purchase the equity securities or subordinated
NC Qualified Business Investment Tax Credit Read More »
Zhejiang Hisun Pharmaceutical Co Ltd. Acquires Substantially all the Assets of Respirics Inc. Princeton, New Jersey – Zhejiang Hisun Pharmaceutical Co Ltd, the parent company of Hisun Pharmaceuticals USA, Inc. substantially acquired all of the assets of Respirics Inc. Included in the acquisition are Acu-Breathe™, a multi-dose breath actuated dry powder inhaler (DPI) device
SF Client Respirics Acquired by Hisun Pharmaceuticals Co. Read More »
To survive and thrive in a competitive marketplace, companies need to secure help and guidance from a wide range of sources. To do so, many companies create advisory boards, or more formally, a board of directors to help guide them and hopefully facilitate growth. If your company plans to go public, it will be required
Board of Directors Versus Advisory Boards Read More »
Source: Ho Ham, General Partner, Altos Ventures I regret to say that I’ve personally served on a dozen boards of venture backed companies that have replaced CEOs. It’s usually not a good sign. It doesn’t mean those start-ups were doomed; but it does mean drastic change was needed. The decision to replace a CEO is
Replacing CEOs in VC-backed Companies Read More »
In the wake of Solyndra’s revelation of an impending bankruptcy filing, the latest report from The Startup Genome Project makes for a timely read. The report, published last week, crunches data from a set of more than 3,200 companies, seeking to identify the qualities that make startups most likely to either succeed or fail. Researchers
#1 Predictor of Failure – Premature Scaling Read More »
Source: WRAL Tech Wire North Carolina Trends Venture capitalists made nine investments in North Carolina in Q4 2011 with the deals generating some $59 million, a slight uptick from the third quarter but down more than $1 million from the same quarter in 2010. However, for 2011 deal making totaled only $325 million across 47
Venture Capital Market Update Read More »
Source: WRAL Tech Wire Startups in the Research Triangle area have a new source to tap for funding. Triangle Angel Partners, formed by some 40 individuals from around the area, is officially in business after having raised a first round of $2.3 million. Backers include Rich Lee, the former owner of Hosted Solutions which he
New $2.3M Angel Fund Launches in Triangle Read More »
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.
