Creating and Running Full-Scale Financial Operations Using a Flexible Model

At A Glance

Company Type: Bootstrapped Startup to VC-backed Emerging Growth Company

Industry: Technology

Solution Area: Emerging Growth, CFO Full Stack

About The Client

As with most fast-growing companies, the early days were exciting but busy for this bootstrapped, pre-revenue startup.  

In the past decade, the San Francisco company soared from just three employees to a 75-person workforce. It’s managed to raise over $50 million in fundraising and earns $20 million in annual recurring revenue.

Challenge

In 2011, the CEO needed a finance function for his new company but wanted to start off slowly. He needed a team that could grow as the company grew, while giving him full confidence that the day-to-day finance and accounting would be covered. By partnering with ZRG, the company got exactly that, plus access to CFO business knowledge whenever he needed insights on scaling the company.

Solution

• From day one, ZRG matched its solutions and expertise to the star tup’s needs, scaling up or down as the company pushed forward with its growth plans. Services ranged from tactical day-to-day operations, planning and forecasting, to coordinating the first audit and handling the HR function.
• Starting out with a CFO and accountant on a part-time basis, we built the finance function so that everything was timely and running smoothly—from accounts payable and receivable to reliable financial statements. We quickly became a trusted advisor to the CEO, who relied on us for budgeting, planning, and forecasting expertise.

Results

• Seamless transition for the company’s first director of finance
• Solid finance foundation with ongoing processes for reliable financial data
• Adjustment-free first audit
• Smooth-running finance operations, for billing, collections, reporting, HR and accounting
• Budgeting and reporting systems that management could trust and use
• A reliable expert resource for forward-looking advice and board presentations

“While I built up my company, ZRG built out our financial foundation. Every level of finance they gave us—from strategic level advice to the finance operations running seamlessly—helped us run a successful business.”

- Board of Director, Former CEO

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