Ed Carse, Finance Expert in South Barrington, IL, United States
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Ed Carse

Verified Expert  in Finance

Bio

Ed is an experienced entrepreneur, growth-company CFO, and investment banker with a background in many industries, including technology, media, finance, and business services. He has launched several companies, raised over $70 million in growth capital, and helped a company expand internationally and scale 5x in three years. Ed enjoys helping fix businesses and operating and financial challenges that prevent clients from reaching their potential.

Career Highlights

Virtual CFO
EMC Consulting
Founder | CEO
EquiX Inc.
Chief Financial Officer (CFO)
ServiceSource International, LLC

Education Highlights

Master's Degree
Stanford University
Bachelor's Degree
University of Pennsylvania

Case Studies

Work Experience

Virtual CFO

2020 - PRESENT
EMC Consulting
  • Acted as CFO of a high-growth, venture-backed, property-technology SaaS company. Rebuilt its finance team, developed forecasting, and led operational improvements and recovery from major pre-existing errors. Raised $9 million in growth capital.
  • Assumed the role of a CFO of a high-growth, professional training company with $17 million in revenue. Rebuilt its finance team, established reporting and FP&A standards, developed forecasts and product P&Ls, and led the company strategy assessment.
  • Acted as CFO of an early-stage business process software company. Developed complex forecasting, advised on sales strategy and economics, and created a pricing model.
Focus areas: Annual Budgets, Bank Covenants, Board of Directors, Board Presentations, Board Reporting, Budgeting, Budget Modeling, Business Models, Business Planning, Business Strategy, Capital Budgeting, Accounting, Capital Raising, Cash Flow, Cash Flow Forecasting, Cash Flow Management, CFO, Customer Acquisition Cost (CAC), Free Cash Flow (FCF), FPA, GAAP, Debt Raises, Venture Debt, Private Equity, Venture Funding, Financials, Financing, Cost of Debt, Debt Financing, Finance, LTV:CAC, Lifetime Value (LTV), Unit Economics, Economic Cost, Pricing, Modeling, M&A Modeling, Hiring, Team Leadership, Forecasting, Financial Planning & Analysis (FP&A), Team Mentoring, Compensation, Strategy, Strategic Planning, Financial Modeling, Capital Planning, Company Strategy, Contract Negotiation, Fundraising, Growth, Cost of Capital, P&L Forecasting, Team Development, Change Management, Internal Financial Reporting, Cost Reduction & Optimization (Cost-down), Short-term Investments, Pricing Models, Pricing, Business Modeling, Business Model Strategy, Cash Flow Modeling, External Financial Reporting, Microsoft Excel, Pitch Decks, Real Estate, Startup Funding, B2B, Business Structuring, Growth Strategy, Revenue Projections, Market Research, Enterprise SaaS, Excel Modeling, Excel Expert, Financial Ratios, Executive Coaching, Financial Operations & Processes

Founder | CEO

2013 - PRESENT
EquiX Inc.
  • Co-founded a startup to improve the insurance claims process for lost commercial equipment (contents). US insurers pay $8–$10 billion annually in these claims, but poor processes result in billions of dollars of overpayments.
  • 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.
  • Directed product design and a development team of eight 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, Valuation Modeling, Waterfall Modeling, Excel 365, Leadership, Company Strategy, Three-statement Modeling, Valuation, Business Plan Consulting, Market Entry, Venture Capital, Financing, Entrepreneurship, Models, Modeling, Forecasting, Microsoft 365, High-tech Startups, United States, Insurance Technology (Insurtech), Board Presentations, Team Mentoring, Team Development, Deal Execution, Deal Structuring, Business Planning, Growth Capital Raising, Venture Funding, Debt Raises, Software as a Service (SaaS), Recruiting, Senior Executive Recruiting, Mentorship & Coaching, Operations Strategy, Board Reporting, Team Building, Project Planning, Culture Development, Team Leadership, Team Management, Software Development Management, Deal Advisory, Capital Raising, M&A Modeling, Seed Fundraising, Equity Financing, Cost of Debt, Mentorship, Process Automation, Reporting, GAAP Compliance, US GAAP, GAAP, Financials, Capital Planning, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, Key Performance Indicators (KPIs), FPA, DCF Valuation, Capital Budgeting, Annual Budgets, Budget Modeling, Fundraising Strategy, Accounting, Small & Medium-sized Enterprises (SME), Cash Flow, Pricing, Change Management, Internal Financial Reporting, Short-term Investments, Pricing Models, Fintech, Business Modeling, Business Model Strategy, Cash Flow Modeling, External Financial Reporting, Microsoft Excel, Pitch Decks, Startup Funding, B2B, Company Formation, Business Structuring, Growth Strategy, Revenue Projections, Market Research, Enterprise SaaS, Excel Modeling, Excel Expert, Financial Ratios, Apps, Financial Operations & Processes

Founder | Managing Director

2007 - 2012
Devana Partners, LLC
  • Founded a search fund targeting the 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 an investment team of three people for rapid strategic, financial, and legal due diligence.
  • Focused on opportunities in B2B services, software and technology, media, education, medical services, and business process outsourcing (BPO).
  • Developed a deal-tracking and deal-flow system engaging over 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, Valuation Modeling, Waterfall Modeling, Excel 365, Leadership, Company Strategy, Three-statement Modeling, Financial Planning & Analysis (FP&A), Business Plan Consulting, Market Entry, Venture Capital, Financing, Entrepreneurship, Models, Modeling, Leveraged Buyout Modeling, Forecasting, United States, CFO, Team Mentoring, Team Development, Contract Negotiation, Sales, Deal Structuring, Business Planning, Growth Capital Raising, Venture Funding, Financial Reporting, Debt Raises, Software as a Service (SaaS), Recruiting, Senior Executive Recruiting, General Management, Controllership, Team Building, Culture Development, Team Leadership, Team Management, Debt Financing, Seed Fundraising, Bank Covenants, Equity Financing, SaaS, Venture Debt, Cost of Debt, Convertible Debt, Mentorship, Customer Acquisition Cost (CAC), LTV:CAC, Unit-level Economics, Unit Economics, Reporting, GAAP Compliance, US GAAP, GAAP, Lifetime Value (LTV), Financials, Capital Planning, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, Key Performance Indicators (KPIs), FPA, DCF Valuation, Capital Budgeting, Budget Modeling, Fundraising Strategy, Pitch Deck Consultant, Accounting, Small & Medium-sized Enterprises (SME), Cash Flow, Change Management, Short-term Investments, Information Memoranda, Business Modeling, Business Model Strategy, Cash Flow Modeling, Microsoft Excel, Pitch Decks, Startup Funding, B2B, Company Formation, Business Structuring, Growth Strategy, Revenue Projections, Market Research, Excel Modeling, Excel Expert, Financial Ratios, Financial Operations & Processes

Chief Financial Officer (CFO)

2004 - 2006
ServiceSource International, LLC
  • Maintained margins and free cash flow with 5x revenue growth in three years (to $50 million).
  • Oversaw 100% annual employee growth (to over 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, 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.
  • 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."
  • Implemented the company's 1st formal budget process.
  • Developed the 1st key performance indicator (KPI) dashboard for Board and senior management.
  • Led the purchase and implementation of company-wide business intelligence and accounting software packages to improve operational productivity.
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, Valuation Modeling, Waterfall Modeling, Excel 365, Board Reporting, Three-statement Modeling, Valuation, Business Plan Consulting, Private Equity, Market Entry, Mergers & Acquisitions (M&A), Venture Capital, Financing, Models, Modeling, Forecasting, United States, CFO, Team Mentoring, Deal Structuring, Business Planning, Venture Funding, Debt Raises, Information Technology Enabled Services (ITES), Recruiting, Controllership, Business Strategy, Technical Recruiting, Operations Strategy, Team Leadership, Team Management, Debt Financing, Deal Advisory, Capital Raising, M&A Modeling, Bank Covenants, Equity Financing, Cost of Debt, Convertible Debt, Trusted Advisor, Mentorship, Process Automation, Reporting, GAAP Compliance, US GAAP, GAAP, Financials, Capital Planning, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, Key Performance Indicators (KPIs), FPA, DCF Valuation, Capital Budgeting, Annual Budgets, Budget Modeling, Fundraising Strategy, Venture Debt, M&A (Buy-side), Accounting, Small & Medium-sized Enterprises (SME), Cash Flow, Pricing, Change Management, Internal Financial Reporting, Cost Reduction & Optimization (Cost-down), Short-term Investments, Pricing Models, Business Modeling, Business Model Strategy, Cash Flow Modeling, External Financial Reporting, Microsoft Excel, Pitch Decks, B2B, Business Structuring, International Growth, Growth Strategy, Revenue Projections, Market Research, Excel Modeling, Excel Expert, Financial Ratios, Financial Operations & Processes

Founder | CFO

1998 - 2003
Bigfoot Media, Inc.
  • Co-founded a venture-backed startup 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, Software Development Management, Team 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, Valuation Modeling, Waterfall Modeling, Excel 365, Board Reporting, Leadership, Company Strategy, Three-statement Modeling, Valuation, Business Plan Consulting, Mergers & Acquisitions (M&A), Financing, Industry Analysis, Models, Forecasting, High-tech Startups, United States, CFO, Team Mentoring, Team Development, Contract Negotiation, Deal Structuring, Growth Capital Raising, Venture Funding, Debt Raises, Budgeting, Senior Executive Recruiting, General Management, New Product Development, Business Strategy, Operations Strategy, Team Building, Debt Financing, Pricing Strategy, Deal Advisory, M&A Modeling, 409A Valuation, Financial System Implementation, Equity Financing, Venture Debt, Cost of Debt, Convertible Debt, Mentorship, Process Automation, Customer Acquisition Cost (CAC), LTV:CAC, Unit-level Economics, Unit Economics, Reporting, GAAP Compliance, US GAAP, GAAP, Lifetime Value (LTV), Financials, Capital Planning, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, Key Performance Indicators (KPIs), FPA, DCF Valuation, Capital Budgeting, Annual Budgets, Budget Modeling, Fundraising Strategy, Pitch Deck Consultant, Accounting, Small & Medium-sized Enterprises (SME), Cash Flow, Pricing, Change Management, Internal Financial Reporting, Cost Reduction & Optimization (Cost-down), Short-term Investments, Information Memoranda, Pricing Models, Business Modeling, Business Model Strategy, Cash Flow Modeling, External Financial Reporting, Microsoft Excel, Pitch Decks, Startup Funding, B2B, Company Formation, Business Structuring, Growth Strategy, Revenue Projections, Market Research, Excel Modeling, Excel Expert, Financial Ratios, Financial Operations & Processes

Corporate Finance Associate

1992 - 1996
Bear, Stearns & Co. Inc.
  • Focused on private equity/financial sponsor clients, including M&A, high-yield leveraged finance, and bankruptcy transactions.
  • Gained industry experience, including 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 (over 100 annually), focused on valuation and financial modeling.
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, Valuation Modeling, Waterfall Modeling, Excel 365, Leadership, Three-statement Modeling, Financial Planning & Analysis (FP&A), Financing, Models, Modeling, Leveraged Buyout Modeling, Forecasting, United States, Team Mentoring, Team Development, Sales, Deal Structuring, Growth Capital Raising, Board Reporting, Team Leadership, Team Management, Deal Advisory, Capital Raising, M&A Modeling, Cost of Debt, Convertible Debt, Trusted Advisor, Mentorship, Customer Acquisition Cost (CAC), LTV:CAC, Unit-level Economics, Unit Economics, GAAP Compliance, US GAAP, GAAP, Lifetime Value (LTV), Financials, Capital Planning, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, Key Performance Indicators (KPIs), DCF Valuation, Capital Budgeting, Fundraising Strategy, M&A (Buy-side), Pitch Deck Consultant, Accounting, Cash Flow, Information Memoranda, Business Modeling, Cash Flow Modeling, Microsoft Excel, Pitch Decks, B2B, Revenue Projections, Market Research, Excel Modeling, Excel Expert, Financial Ratios
1996 - 1998

Master's Degree in Business Administration (MBA)

Stanford University - Stanford, CA, USA

1988 - 1992

Bachelor's Degree in Finance

University of Pennsylvania - Philadelphia, PA, USA

Finance

Deal Advisory, Capital Raising, M&A (Buy-side), M&A Modeling, Fundraising, Seed Fundraising, Bank Covenants, Equity Financing, CFO, Three-statement Modeling, Forecasting, Financial Modeling, Growth Capital Raising, Valuation, Venture Funding, Financial Planning & Analysis (FP&A), Private Equity, Debt Raises, Budgeting, Leveraged Buyout Modeling, Revenue & Expense Projections, Venture Debt, Cost of Debt, Convertible Debt, Customer Acquisition Cost (CAC), Lifetime Value (LTV), Unit-level Economics, Valuation Modeling, Free Cash Flow (FCF), P&L Forecasting, Cash Flow Forecasting, DCF Valuation, Capital Budgeting, Cash Flow, Pricing, Internal Financial Reporting, Cost Reduction & Optimization (Cost-down), Cash Flow Modeling, External Financial Reporting, Startup Funding, Market Research, Pricing Strategy, Financial Reporting, Mergers & Acquisitions (M&A), Accounting, 409A Valuation, Financial System Implementation, Fairness Opinion Reports, Economic Cost, Cost of Capital, Short-term Investments

Output Software

Microsoft Excel

Industry Expertise

Venture Capital, Early-stage Startups, High-tech Startups, Insurance Technology (Insurtech), Information Technology Enabled Services (ITES), Real Estate

Geographic Expertise

United States

Other

Business Strategy, Leadership, Company Strategy, Debt Financing, Business Models, Financing, Cash Flow Management, Microsoft 365, Startups, Entrepreneurship, Industry Analysis, Team Mentoring, Team Development, Contract Negotiation, Financial Reporting Dashboards, Deal Structuring, Software as a Service (SaaS), Models, Modeling, Business Planning, Business Plan Consulting, SaaS, Early-stage Venture Capital, Early-stage Funding, Trusted Advisor, Mentorship, LTV:CAC, Unit Economics, Financials, Capital Planning, Waterfall Modeling, Key Performance Indicators (KPIs), Virtual CFO, Interim CFO, Part-time CFO, Fractional CFO, FPA, Annual Budgets, Budget Modeling, Fundraising Strategy, Pitch Deck Consultant, Small & Medium-sized Enterprises (SME), Strategy, Information Memoranda, Pricing Models, Pricing, Fintech, Business Modeling, Business Model Strategy, Pitch Decks, B2B, Company Formation, Business Structuring, Growth Strategy, Revenue Projections, Enterprise SaaS, Excel Modeling, Excel Expert, Financial Ratios, General Management, Mentorship & Coaching, Board Reporting, Team Building, Foreign Currency, Culture Development, Team Leadership, Market Entry, Bankruptcy & Insolvency, Financial Training, Board Presentations, Deal Execution, Legal Analysis, Change Management, Sales, Team Management, Process Automation, Reporting, GAAP Compliance, US GAAP, GAAP, Excel 365, International Growth, Apps, Executive Coaching, Financial Operations & Processes, Controllership, New Product Development, Technical Recruiting, Board of Directors, Operations Strategy, M&A Pipeline Management, Project Planning, Software Development Management, Recruiting, Senior Executive Recruiting, SaaS Optics, Finance, Hiring, Compensation, Strategic Planning, Growth, Staffing, Competitive Strategy, Competitor Analysis & Profiling, M&A Strategy, Cost Accounting, Microsoft

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