BCV Navigates Funding Rounds, Acquisition with SaaSOptics
After joining social media management company BCV as a corporate Controller in 2015, Kristy Britt saw the company through multiple funding rounds, her appointment to CFO in 2018, and ultimately, an acquisition by RateGain in 2019.
Prior to Britt’s arrival, BCV outsourced to an external CFO who was managing financial operations primarily in Quickbooks and spreadsheets, a practice David Modiano of City Capital Advisors described as, “pretty much a black hole,” in terms of transparency into cash flow.
According to Modiano, whose investment banking firm works with BCV, “I was pitch hitting and helping with modeling and projections, but as the business grew, tracking revenue streams, receivables and payables, and deferred revenue became extremely difficult.”
Today, BCV automates much of their financial operations with SaaSOptics, including billing, revenue recognition and SaaS metrics.
“We live and die by the subscription momentum report,” explains Britt. “The ability to drill down into lost, expanded and contracted revenue as well as see what’s causing changes from month to month, has been critical.”
The biggest benefit to using SaaSOptics though, is the trust and transparency that SaaSOptics gives her regarding the financial health of the business.
With SaaSOptics in their back pocket, BCV was able to navigate funding rounds and an acquisition with ease and confidence.
According to Modiano, “From a pure diligence standpoint, anything investors or acquirers asked for, BCV was able to produce. Not only could they produce it, they could run reports and deliver the data fast. SaaSOptics did all the work, so we didn’t have to augment, reformat or put a lot of analysis into the data.”
In addition to providing a clean, backward-looking overview for investors and acquirers, Britt has been able to leverage SaaSOptics data to plan for BCV’s future, too.
“With SaaSOptics, we were able to predict invoicing and forecast the numbers, which were used to build the financial model. The five-year model was the backbone of our go-to-market strategy and extremely valuable through our capital raises and the acquisition. It played a big role in where we are today.”
With SaaSOptics in their arsenal, there’s no doubt that BCV will continue to thrive as they team up with RateGain and integrate the two platforms.
Want to know more about how SaaSOptics can help you navigate the financial life cycle of your SaaS business? Get in touch today.
This post was adapted from a longer case study published by SaaSOptics. Download the full-length case study here.