Securly • Establishing firm footing
Foundational FP&A Groundwork Enables Success for Incoming Sr. VP of Finance During Company’s Scale and 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
- Expedited new SVP of Finance onboarding process
- 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
“Propeller adapted their tools to provide solutions for our business needs and pain points. Their outstanding technical expertise and transaction level work supplements our finance and accounting needs. And they are a trusted strategic thought partner who played an instrumental role throughout our M&A process and exit to Golden Gate Capital ($15B AUM).”
Scott Cohn
CFO, Securly
Growth with Propeller
$2M
Annual recurring revenue (ARR) increase
81%
Compound annual growth rate (CAGR)
$22M
Debt raised
$35M
Equity raised
"Propeller has been valuable because of their fantastic skillset within the relative work as well as their ability to be a thought partner to me at this level. They push important things up to me and are my extra set of eyes and ears on the ground proactively helping me to see around corners."
Scott Cohn
CFO, Securly
