2013 - PRESENT
- Co-founded a startup to improve the insurance claims process for lost commercial equipment ("contents"). US insurers pay $8–$10 billion/year in these claims, but poor processes result in billions of dollars of over-payments.
- Increased average adjuster productivity by 50%, with claims cycle time reductions averaging 70%.
- Saved insurance carrier clients an average of 25% in claims indemnities (payments to customers) while maintaining high customer satisfaction grades.
- Led the creation of an innovative SaaS application from concept to a working product.
- Directed product design and an eight-person development team in the US and India.
- Oversaw all the company's financial, legal, and operational functions, including FP&A, budget, tax, capital funding, planning, and contract negotiations.
Focus areas: Financial Reporting, Industry Analysis, Board of Directors, Technical Recruiting, Sales, Business Strategy, Pricing Strategy, Contract Negotiation, New Product Development, Financial Modeling, Budgeting, Financial Planning & Analysis (FP&A), Controllership, General Management, Startups, Early-stage Startups, SaaS, Revenue & Expense Projections, Business Models, Early-stage Venture Capital, Early-stage Funding
Founder, Managing Director
2007 - 2012
Devana Partners, LLC.
- Founded a search fund targeting an acquisition of up to $25 million in enterprise value. The goal was to acquire a stable company using investor capital, and after a transition period, replace the existing manager as CEO.
- Raised operating and acquisition capital commitments from institutional and private investors, including venture funds, private equity funds, and high-net-worth family offices.
- Recruited, trained and led 3-person investment team for rapid strategic, financial and legal due diligence.
- Focused on opportunities in B2B (business-to-business) services, software & technology, media, education, medical services, and BPO (business process outsourcing).
- Developed a deal-tracking and deal-flow system engaging >2,000 potential sources on a continuous basis.
- Managed all corporate reporting to LPs, including FP&A, budget, tax, capital funding, planning and contract negotiations.
Focus areas: M&A Modeling, M&A (Buy-side), M&A Pipeline Management, Private Equity, Deal Execution, Industry Analysis, Business Strategy, Financial Modeling, Board Reporting, Board Presentations, Board of Directors, Operations Strategy, Capital Raising, Mentorship & Coaching, Legal Analysis, Deal Advisory, Valuation, Mergers & Acquisitions (M&A), Fundraising, Startups, Early-stage Startups, Revenue & Expense Projections, Business Models, Early-stage Venture Capital, Early-stage Funding
Chief Financial Officer (CFO)
2004 - 2006
ServiceSource International, LLC.
- Standardized, professionalized and automated financial, legal and organizational processes. I was brought in to fix a variety of growth-company maladies.
- Maintained margins and free cash flow with 5x revenue growth in three years (to $50 million).
- Oversaw 100% annual employee growth (to >500) from domestic and international expansions via branch offices.
- Sourced, negotiated and closed over $50 million in debt refinancing and equity growth capital with venture firms, hedge funds and commercial banks.
- Hired and developed a high-performance staff of eight FTEs across the company, including international operations.
- Developed processes and billing systems to improve collections and cash flow management.
- Overhauled FP&A and financial reporting to reduce cycle times, while increasing accuracy.
- Implemented the company's first formal budget process.
- Developed the first key performance indicator (KPI) dashboard for Board and CEO use.
- Led the purchase and implementation of company-wide business intelligence and accounting software packages to improve operational productivity.
- Re-wrote all company-standard legal documents and contracts to reduce customer confusion. Centralized all major company negotiations through the CFO's office to improve terms, control variability and avoid "surprises".
Focus areas: Culture Development, Senior Executive Recruiting, Financial Reporting Dashboards, Financial Reporting, Foreign Currency, Deal Execution, Industry Analysis, Mentorship & Coaching, Team Development, Financial System Implementation, Project Planning, 409A Valuation, Board Presentations, Board of Directors, Pricing Strategy, Contract Negotiation, Team Building, Company Strategy, Leadership, Financial Modeling, Budgeting, Financial Planning & Analysis (FP&A), Growth Capital Raising, General Management, Fundraising, Revenue & Expense Projections, Business Models
1998 - 2003
- Co-founded a venture-backed start-up company focused on launching and acquiring local media properties in mid-sized cities.
- Conceived and wrote the business plan for an innovative multi-location media company using a technology-centered operating model to improve productivity and lower costs.
- Raised $5 million in seed and venture capital from institutional investors and private family offices in several rounds.
- Launched two media properties utilizing both printed and online editions.
- Hired, developed and oversaw a staff of 60 employees/contractors across all locations.
- Responsible for all company financial, legal and expansion operations, including FP&A, budget, tax, capital funding, planning and contract negotiations.
Focus areas: Seed Fundraising, Venture Capital, Culture Development, Mentorship & Coaching, Controllership, Recruiting, Financial Reporting, Board Presentations, Board of Directors, Fundraising, Market Entry, Entrepreneurship, Sales, Team Management, Software Development Management, Team Leadership, Modeling, Business Planning, Capital Raising, Financial Planning & Analysis (FP&A), Financial Modeling, Startups, Early-stage Startups, Revenue & Expense Projections, Business Models, Early-stage Venture Capital, Early-stage Funding
Corporate Finance Associate
1992 - 1996
Bear, Stearns & Co.
- Focused on private equity/financial sponsor clients, including M&A, high-yield leveraged finance, and bankruptcy transactions.
- Experienced in structured high-yield fixed income, mergers and acquisitions, bankruptcy advisory, equity offerings, financial derivatives, and fairness opinions. Industry experience included cable television wireless, telecommunications, satellites, paper and forest products, publishing and broadcast media, gaming, and automotive suppliers.
- Designed and ran the firm's training program for incoming post-college and post-MBA hires (>100/yr), focused on valuation and financial modeling.
- Authored the firm's handbook on standard valuation techniques.
- Promoted from analyst to associate after 2 years.
Focus areas: Financial Training, Mentorship & Coaching, Recruiting, Fairness Opinion Reports, Private Equity, Board Presentations, Board of Directors, Business Strategy, Industry Analysis, Debt Raises, Equity Financing, Bank Covenants, Valuation, Financial Modeling, Legal Analysis, Contract Negotiation, Deal Execution, Bankruptcy & Insolvency, Debt Financing, Mergers & Acquisitions (M&A), Fundraising, Revenue & Expense Projections, Business Models