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Education Tech Company Aided by Outsourced CFO Raises 35m in Capital





Northeastern US





The client, which prefers anonymity so we will refer to them as Company x, partners with top global universities to deliver online leadership development programs that solve their schools’ business needs.

G-Squared Partners was introduced to Company x in 2014 by their venture capital partner. The company had recently received Series A funding—an accomplishment for any entrepreneur. However, their VC partner felt they needed a more substantial financial function. Investors believed that a solid financial footing would not only form the basis for more disciplined financial reporting sought by investors but ultimately enable them to make more well-informed business decisions.

Prior to engaging G-Squared, Company x utilized the services of an outsourced CFO and an outsourced bookkeeper. However, these services were contracted and handled separately. And, like many entrepreneurs, Company x lacked the resources to hire a full-scale in-house team. It made more sense to outsource their full finance function to experts with expertise under one roof and who could help them scale services up or down based on their evolution.

Company x hired us knowing G-Squared could provide the best of both worlds at a fraction of the cost of an in-house team. With G-Squared Partners, their team was led by a former CFO with big-company experience and expertise in positioning early-stage companies for growth; and a finance and accounting team to support strategy through tactics and nuts-and-bolts knowledge.

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Solution & Approach 

An experienced, outsourced financial CFO and supporting team 

G-Squared Partners successfully brought much-needed financial structure and discipline to Company x’s business. We accomplished this in several ways.


We developed deep insight into our client's operations through pointed questioning, day-to-day accounting, and closing our client's books each month. This knowledge helped us determine how to manage their cash flow to support the business's growth and keep the business capital-efficient.

We helped the company develop new contract terms that improved the company's cash flows. Our client realized enhanced cash flow and stickier customers by migrating from less optimal contract terms to an up-front payment. Putting specific measurements in place allowed us to gauge their progress and report on effects to the business. The new billing structure also provided superior revenue visibility. At any point, they could see whether they were on target to achieve their revenue goals.

The G-Squared team also helped analyze the company's profit and loss regarding revenue and cost of goods sold to reach desirable gross margins.

Ultimately, defining our client's KPIs allowed us to quantifiably determine how successfully they were meeting their strategic and operational goals at any point in time.



Since 2014, Company x has completed an audit every year. While the audit process is typically an arduous task, G-Squared makes the process seamless.

Each year, our client has been audited by a Big Four accounting firm with minimal involvement by our client and virtually no disruption to their operations. All fieldwork for the audit was conducted at our G-Squared office, and our team handled every aspect of the audit on our client’s behalf— enabling them to focus on running their business.

Because the G-Squared team is so deeply entrenched in our client’s finances, we ensure our client is always audit-ready. We were instrumental in obtaining their Series B funding in 2017 and Series C funding in 2018 by providing their investors with the financial analyses and bottom-up details they needed to make decisions on investments.



Since 2014, G-Squared has prepared financial statements and reporting services for Company x, including working with their auditors and venture investors. Each month, we develop a board of directors file for our client to provide to their investors. This complete overview details how our client performed in prior periods versus budget, current financial condition, and future projections.



Since our partnership with Company x began they have: 

  1. Grew revenues from <$1M to $17M+

  2. Expanded its employee base tenfold

  3. Raised $35 million in venture capital 

  4. Obtained a large banking facility from a venture bank, providing the business with an additional source of liquidity

“G-Squared has a talent for being able to plug in and switch very well. We spent a lot of time on our financials to understand the business at a very deep level.

This has given me a lot of value-added strategic input into how our financial numbers drive business decisions.”

–CEO/Company x

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