Accountants for venture capital backed companies

It’s a huge step forward when a company successfully closes a Venture Capital-led round of investment.

Once the initial excitement passes however, founders recognise that, with the newly received cash comes increased scrutiny. This includes scrutiny of the company’s strategy, its processes and, most importantly, its finances.

If there’s one thing that investors don’t like its surprises and for that reason they want to rest assured that there are adequate financial controls and reporting processes in place to detect issues early on. Startups with VC funding need processes and systems to regularly report on the company’s financial position.

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    How does Metric know what venture capitalists want to see from their investee companies?

    Metric’s client base consists of Technology and High Growth companies. These companies are all growing much faster than the norm and are extremely innovative and disruptive. As a consequence, these companies tend to be very cash “thirsty” in the early years and seek VC funding to help and support them through the growth stages.
    We have helped tons of funded startups, by providing the financial information that the venture capitalists demand. Some of the Metric team have worked as CFOs for VC-backed companies and know, first-hand, what information is required and when.
    Based on this experience, we believe that VC-backed companies require financial advisors that can:

    • Talk their language. It’s imperative that non-finance managers can quickly interpret the key messages and take action accordingly.
    • Utlise their knowledge and experience of working with similar-sized Tech and High Growth companies to help management make better decisions.
    • Provide independent, thought leadership. This can include delivering hard but necessary messages to management.
    • Deliver financial reporting to achieve Group wide objectives and maintain statutory compliance.
    • Consolidate the financials of different business units and subsidiaries, across various jurisdictions.
    • Provide strategic busines advice, to allow the Company to grow organically or through acquisitions and partnerships.
    • Demonstrate recent experience helping to develop successful sales processes (i.e. a “sales pipeline”)
    • Introduce the Company’s management team to a high-calibre business network, including funding sources, law & accounting firms, banks, market experts, etc.
    • Experience of advising on cross border transactions, running all the way from identification of strategic need through to fund-raising and integration with existing businesses.

    We know how sophisticated investors dissect the management information put before them. This helps us advise companies and make sure founders avoid some of the “trap doors” that can quickly sour relations with your investor partner.

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    Stay in control and make the most of opportunities

    We can make sure that your accounting systems and bookkeeping are strong enough to deliver reliable financials every month; generate bespoke reports as requested by investors; prepare the financial statements for the company; and survive an audit, should they ask for one – this means having your schedules and back up information neatly organized.

    However, at Metric, we can go beyond preparing the core financials. We can support your company prepare the strategic suite of documents of a well rounded finance department. This would typically include preparing a budget that your team supports; preparing a budget variance, comparing your actual performance to your budgeted projections; and managing your cash flow projections, so that you know when you’re likely to run out of cash and what this means for your hiring decisions, profit margins and burn rate.

    What Our Clients Say

    Tech Accountant Reviews

    We’ve been working with Metric for several years now and through that time have received a great many suggestions, recommendations and counselling that have brought multiple economic benefits to our business.  They are true team players.

    Brendan O’Toole, CEO

    What services do our VC-backed clients want?

    Services that other VC-backed companies have regularly asked us to perform include:

    Fundraising assistance, including SEIS, EIS and VCT

    If you’re seeking investment for your business, it can be hard to persuade investors to provide the investment that you need to grow. To make it easier to raise investment, tax schemes such as Seed Eneterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) was designed by HM Revenue and Customs.
    By creating tax breaks for equity investors, HMRC make it more attractive for investors to invest in this kind of businesses. We can help you liaise with HMRC.

    R&D tax credits

    Whether you have developed new software, improved a system’s efficiency or designed a product, this specialised, complex area of tax law can be “the gamechanger” that allows your company to fund future growth.
    A typical HMRC R&D Tax Credits claim for a small company is £70,000, whilst claims for larger companies can be in the millions. Metric can take care of the process – from start to finish.

    Finance Dept

    Venture-backed companies need to know that their finances are in order and up-to-date. Many high growth companies have faced similar issues, such as a need for better processes to deal with the higher volume of customers, the need for better board reporting, or reporting that helps to alert management to major improvement opportunities early on.
    Metric has helped many companies overcome these issues and we can help you too.

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