Foundational FP&A Groundwork Enables Success for Incoming Sr. VP of Finance During Company’s Scale and Acquisition
Propeller’s legacy engagement with Securly and deep experience with the company’s financials set their new finance leader on firm footing to manage challenges, fundraising, and eventual acquisition.
ABOUT SECURLY
EdTech SaaS company providing schools with cloud-based web filters and AI-scanning tools to keep students safe on all devices in an increasingly digital world.
THE CHALLENGE
For many startups, scaling from $15M to $25M and preparing for an acquisition can be a formidable challenge. Senior Finance VP Scott Cohn joined education technology startup Securly in 2019 eager to guide the company to that next phase. As Propeller helped him quickly onboard, the company faced a short-term cash-flow crunch due to distressed market conditions caused by the global pandemic and disrupted sales due to restructuring their strategic sales team. Scott relied on Propeller and the robust Financial Planning & Analysis (FP&A) foundation they had already established to hit the ground running.
HOW PROPELLER TOOK ACTION
» Upon initial engagement in early 2017, created best-of-breed accounting and finance systems and processes
» Created a new model to account for seasonality of sales, complex payment terms, and factoring
» Developed sophisticated metrics and dashboards to highlight KPIs
» Addressed multi-entity accounting through migration from QuickBooks to Netsuite
» Provided active solutions for navigating
a cash flow crunch due to school closures and low Q1 sales as a result of a revamped sales team.
» Acted as a trusted advisor and supported all fundraising efforts and eventual acquisition


THE POSITIVE RESULTS
Propeller’s foundational FP&A groundwork helped Securly navigate a complex period and acquisition
» Better insight into seasonality of the business and expected revenue volume by month and quarter
» Reviewing, analyzing and consulting on KPIs helped leadership track gross and net retention rates, LTV and CAC, operating payback periods, and more
» By taking the lead on the Netsuite implementation project, Sr. VP of Finance was freed up and able to focus on successful Series B fundraising in Q1 2020
» Provided key insights into working capital and burn rate to help navigate a tricky cash-flow crunch
» With Propeller’s guidance, expertise, and data, Securly completed a successful multi-million dollar sale


Are you a SaaS company navigating the complexities of growth?
Let’s start a conversation today.