Source: Brendan Anderson, Founder & Managing Director, Evolution Capital; Member, Axial Markets Growing a business into a market leader is a long process requiring patience, planning, and determination. While there are a number of ways to get there, Brendan Anderson, Founder & Managing Director of Evolution Capital, believes each one is supported by five key principles of business growth: great […]
The 5 Pillars of Business Growth Read More »
Source: Rand Fishkin Rand Fishkin, co-founder and CEO of SEOmoz, shares his thoughts on the evolving nature of a founder’s role after funding and his approach to supporting a newly expanded team. A sudden cash infusion brings with it massive changes for a company and its founder. As your team grows, there is often a shift
What Founders Need to Know About Their Role After VC Funding Read More »
__________________________________________________________________________________________ For the 2nd straight year, Inc. magazine today included Scale Finance LLCin its 33rd annual Inc. 500|5000 list, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino’s Pizza, LinkedIn,
Scale Finance Makes 2014 Inc. 5000 Fast Growth List for the 2nd Year Read More »
Source: John Greathouse, Rincon Venture Partners Entrepreneur, startup advisor, and VC John Greathouse shares eight red flags inexperienced entrepreneurs routinely raise when pursuing venture capital investment. Because of the rapid pace with which venture capitalists review investment opportunities, they must employ pattern matching techniques which include identifying common fundraising deal breakers. Fortunately, most deal breakers can
VC Turn-offs – 8 Mistakes Which Kill Momentum with Investors Read More »
Source: Billy Fink, Editor, Axial Forum IPOs are in vogue right now. In the last month alone there was the best IPO week since 2006 and PE IPOs reached their highest ever level. But, not all companies are getting access to the IPO party. These flotations have largely been reserved for much larger firms, with significant
Will IPOs Ever Return to the Middle Market? Read More »
Source: Jim Verdonik, Ward and Smith PA and Knox Proctor (also Ward and Smith) The Jumpstart our Business Startups (“JOBS”) Act was a bipartisan effort to create jobs by making it easier for start-up companies to deal with securities laws when raising capital. It was signed by the President on April 5, 2012. Most of
2014 JOBS Act Update – Some Assembly Still Required Read More »
_______________________________________________________________________________________________________ Accordant Communications, LLC (www.acc-com.com) is a leading telecom service provider focused on Broadband Network Development (copper, fiber or licensed or unlicensed wireless). Accordant has extensive experience at designing, integrating and supporting robust, secure, fully converged networks incorporating the latest solutions available in the telecom industry in both dense urban as well as rural environments.
SF Closes Debt Financing for Accordant Communications, LLC Read More »
Source; Mark Mirkin, Rimon Law The public securities markets and the underwriters that lead biotech companies into them dictate a common capital structure suitable for IPOs, which structure almost always deviates starkly from the capital structure of the venture at inception and during its growth phase. Startups frequently commence corporate life structured as limited liability
Patterns in Capital Structure for Biotech Companies – Pre-Revenue Through IPO Read More »
And They Said It Couldn’t Get Any Better… Source: Michael Greeley, Foundation Medical Partners A review of 2Q14 VC investment activity highlighted some fascinating emerging trends. Approximately $13 billion was invested which was the most robust quarter since the “Dot Com” bubble burst over 13 years ago. Quite clearly the recent increase in liquidity to VC’s
Venture Capital Investment Activity – Mid-year 2014 Update Read More »
By Michael Schwerdtfeger, Chapman Associates Deals die for a variety of reasons, but the most frustrating are the ones that are entirely preventable. One such example is the application of an appropriate revenue recognition policy. While difficult to understand, failing to implement correct practices can (and does) kill deals. Because of the complexity of the
How Revenue Recognition Issues Can Kill Deals 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.
