What Coconut Software CFO Matt Petrow learned while raising a Series B
Summary
But Matt Petrow, CFO of Coconut Software, said it’s about more than simply knowing your numbers and taking the best term sheet available. In order to hit its goal, Petrow said the company would need to aggressively expand into the United States, where the vast majority of financial services activity happens in North America. “So that’s an example of knowing where to cap your metrics, and tying them back to your business model is really important,” Petrow added. “You kind of build up that rigour ahead of the process: as you’re putting your data together, you’re able to ask these questions, and talk with your team [about] what makes the most sense.” When the metrics are right and the vision is compelling, startups are likely to receive a couple of different offers from investors. Value-adds: things that set a particular firm apart, such as connections to advisors, a community of portfolio company leaders to support each other, or in-house recruiting.
Funding
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