CASE STUDIES:

SaltStack is a forward thinking software company based in Lehi, Utah.

SaltStack develops systems management software used by the world’s largest businesses and web-scale infrastructures for data center automation, hybrid cloud building and orchestration, server provisioning, and application configuration management. They help cloud builders, data center operators, and enterprise IT organizations automate the most difficult and complex cloud management tasks with the speed and flexibility required. Ultimately, SaltStack is used to manage all the data center processes, including: infrastructure, virtualization, application stack, software, and code.

Industries

Business to Business, Software, SAAS, Systems Management

Challenge

Engage a partner to provide crucial strategic guidance and be able to assist with tactical financial solutions.

Advanced CFO

Analysis and fundraising in-line with optimal capital structure, analysis to support key decision-making, and providing scalable resources to service occasional bursts in demand, particularly during fund raising rounds.

Continued Success

SaltStack has continued its dizzying growth, raising capital opportunistically, and is one of the most admired and sought after software investments in Utah.

CHALLENGE

Once they proved their product, SaltStack recognized the need to be organized financially as they positioned themselves for scaling their business. SaltStack culture meant running lean where possible, and they realized they needed a partner who could scale with them.

SOLUTION

SaltStack’s initial need was to properly structure its financials. Advanced CFO provided a proven CFO to assist its current financial team to develop not only GAAP financials, but financials that were meaningful to running the business – not always the same thing. They also helped create its first set of Software as a Service (SAAS) operating metrics that all its investors (current and potential) were looking for.
As SaltStack experienced growth, Advanced CFO provided supplemental bookkeeping and controllership support. SaltStack was an attractive company to outside investors, and the company could easily have raised extraordinary amounts of capital, but management opted to raise capital. Running lean as it grew was crucial, and having Advanced CFO be able to scale its assistance was one part of that strategy. They avoided having to hire full-time financial resources until the time was right for each role.

When the time was right, Advanced CFO assisted with the search for the full-time financial resources. Advanced CFO helped secure its first bank line and raise multiple rounds of capital, always keeping in mind its desire to minimize owner dilution. Because of Advanced CFO’s experience and deep knowledge of the company, they became the CEOs strategic finance confidant and trusted advisor on the executive team.

Are you ready to make finance

a competitive advantage?