Publication
For Founders Raising Capital: Thinking Through the Implications of Convertible Notes
https://www.toptal.com/management-consultants/startup-funding-consultants/convertible-note
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Jeffrey Briggs
Verified Expert in Management Consulting
Management Consulting Expert
Cleveland, OH, United States
Toptal member since December 22, 2017
Bio
Jeff is an entrepreneur and consultant with particular experience in M&A and VC financing, having led three acquisitions and six VC investments at Seagate, a private investment group. Jeff joined Toptal to allow new clients to leverage his diverse skill sets in M&A, cap table and waterfall analyses as well as financial modeling. Jeff generally works with company owners, executives, or boards, and has experience with companies of all sizes.
Career Highlights
Chairman
Portage Notebooks
President
Radiant Electric Heat
Senior Advisor
Seagate Investment Company Limited Partnership
Education Highlights
Master of Business Administration (MBA)
Case Western Reserve University
Master's Degree
Dartmouth College
Bachelor's Degree
Centre College
Case Studies
P&L Forecast for Private Equity Acquisition
Mergers & Acquisitions (M&A)Financial Planning & Analysis (FP&A)Private Equity
Waterfall Analysis for a Venture Capital Deal
Early-stage FundingFinancial Planning & Analysis (FP&A)Mergers & Acquisitions (M&A)
P&L Model for a Potential Venture Investment
Financial Planning & Analysis (FP&A)Early-stage FundingFinancial Modeling
Industry Expertise
- Manufacturing
- Retail
- eCommerce
- Financial Modeling
- Consulting
- Software as a Service (SaaS)
- International Trade
Other Expertise
- Cap Tables
- eCommerce
- Financial Modeling
- Manufacturing
- Mergers & Acquisitions (M&A)
- Private Equity
- Valuation
Work Experience
Chairman
2016 - PRESENT
Portage Notebooks
- Executed the acquisition of this legacy brand of office products. Led an acquisition search to identify the company as a potential target, negotiated the deal terms, and closed the transaction.
- Grew sales via eCommerce by identifying and correcting operational and marketing issues—resulting in a 200% revenue growth in the first two years of ownership.
- Cut expenses and improved customer satisfaction simultaneously by moving fulfillment in-house. The company was able to implement next day shipping while adding ~15% to EBITDA through cost savings.
- Executed a bolt-on acquisition with the opportunity to pay back multiples of the purchase price in the first year by enabling broader distribution to our current customer base.
- Created new products and product line extensions by leveraging existing supplier base. New products launched after the acquisition are now generating revenue—amounting to 30%+ of total pre-acquisition revenues.
Focus areas: Financial Statements, Business Planning, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A)
Equity Research Analyst
2014 - PRESENT
Singular Research
- Developed detailed financial models and analysis reports of small and micro-cap public companies for distribution to a subscriber base of institutional investors.
- Initiated coverage on seven new companies, with three of these companies experiencing a 50% share price appreciation within the first year of coverage.
- Initiated the coverage of a medical supply company as a potential acquisition target—resulting in a 40% gain for subscribers within one month of the "buy" call.
Focus areas: Financial Statements, Financial Modeling
President
2013 - PRESENT
Radiant Electric Heat
- Executed the acquisition of the manufacturing product line, including leading the acquisition sourcing process, negotiating the terms, and closing the deal.
- Implemented a new pricing program after conducting a detailed analysis—resulting in the achievement of company profitability and a 50% increase in revenue in the first year of ownership.
- Implemented an incentive program for distributors of the product line, resulting in a 20%+ CAGR in revenue over four years.
- Launched three new products and product line extensions that have drastically increased new business backlog, with annual revenue visibility at a 400% increase from the time of acquisition.
- Developed a strategic relationship to launch a new proprietary product with a Fortune 500 company which had a complementary product line.
Focus areas: Financial Statements, Financial Management, Revenue Management, Business Planning, Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A)
Chief Financial Officer
2013 - PRESENT
IGW Solutions | InStoreFinance.com
- Built detailed financial models that included assumptions related to unit economics, cost and commission structure, and cash flow. The models were used to successfully raise seed funding.
- Developed a revenue recognition system for non-standard financial transactions.
- Developed and implemented a revenue growth and expense reduction plan that allowed the company to reduce cash burn and reach profitability.
Focus areas: Financial Management, Strategy, Budgeting, Forecasting, Budget Management, Financial Reporting, Financial Planning & Analysis (FP&A)
Senior Advisor
2012 - PRESENT
Seagate Investment Company Limited Partnership
- Sourced and evaluated acquisition candidates, resulting in three successful acquisitions over four years and increasing the group's total revenue by 100%.
- Sourced and evaluated private equity and venture capital deals, resulting in five new early stage investments. All of these companies have gone on to raise subsequent rounds of funding at higher valuations.
- Served as a board member or board observer, on behalf of the investment group, for passive investments; served in this capacity for three companies. Provided analysis related to fundraising and M&A activities (such as equity waterfall calculations) to the board.
- Led the operations of wholly-owned acquired companies, with the two companies that had been owned for over a year both achieving an overall revenue growth of over 100%.
Focus areas: Angel/Seed Funding, Early-stage Venture Capital, Private Company Valuation, Private Equity, Mergers & Acquisitions (M&A)
Board of Directors
2012 - PRESENT
Solarflo Corporation
- Led the development of an annual pricing strategy, maintaining margin in light of increased material costs.
- Implemented a supply chain finance program with a major customer in order to reduce days payable for this customer from 90 to 15 days.
- Identified opportunities to increase business with current customers by cross-selling additional high-margin products.
Focus areas: Financial Statements, Business Planning, Financial Planning & Analysis (FP&A)
Lead Systems Engineer
2006 - 2012
NASA
- Negotiated an agreement between NASA, the Department of Energy and a major aerospace and defense contractor for the technical requirements of a jointly developed space power system in a $200+ million project.
- Developed new procedures for manufacturing cost analysis and jet engine performance analysis that significantly reduced the time necessary to perform analysis based on large data sets (100% to 1000% faster than the original process).
Other Experience
Education
2008 - 2011
Master of Business Administration (MBA) in General Management
Case Western Reserve University - Cleveland, OH, USA
2006 - 2007
Master's Degree in Physics
Dartmouth College - Hanover, NH, USA
2002 - 2006
Bachelor's Degree in Math and Physics
Centre College - Danville, KY, USA
Skills
Finance
Capital Structuring, Financial Planning & Analysis (FP&A), Financial Modeling, Mergers & Acquisitions (M&A), Three-statement Modeling, Startup Funding, Due Diligence, Private Equity, Valuation, Equity Research, Financial Reporting, Forecasting, Budgeting, Financial Management, Revenue Management, Private Company Valuation, Angel/Seed Funding
Output Software
Microsoft Excel, Microsoft PowerPoint
Geographic Expertise
United States, China, Mexico
Data & Analysis Software
Intuit QuickBooks, QuickBooks Online
Industry Expertise
Import/Export, Technology, Retail & Wholesale
Other
eCommerce Accounting, Cap Tables, Consulting, Manufacturing, eCommerce Analysis, Software as a Service (SaaS), eCommerce, Financial Statements, Budget Management, Strategy, Business Planning, Early-stage Venture Capital, Early-stage Funding
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