Challenge 

A cybersecurity software company planning an IPO on an accelerated timeline was managing multiple critical workstreams concurrently and needed significant support to prepare to register as a public company. Years prior, the company was restructured in a take-private deal and began transitioning from a perpetual to a SaaS business model. 

With the backing of a PE sponsor, the company aimed to meet an aggressive IPO timeline while changing its fiscal year, implementing several integrated technology solutions, and engaging a new external auditor.  

How We Helped 

CrossCountry Consulting’s IPO Readiness team performed a rapid assessment of the company’s public company maturity to kick-off the project. This proprietary assessment prioritizes competing workstreams and supports transaction working groups in their pursuit of IPO timeline adherence. 

In close collaboration with key internal functional stakeholders and third parties, the team stepped in to help lead the company’s public company transformation, including: 

  • Navigating the SEC registration statement. 
  • Presenting an actionable roadmap to the board with milestones and timelines to achieving an IPO. 
  • Managing key internal and stakeholders. 
  • Drafting SEC-compliant financial statements. 
  • Drafting different financial sections of the S-1. 
  • Responding to SEC comment letters. 
  • Working proactively with auditors. 
  • Delivering specialized technical accounting and financial reporting support. 

To establish a technology and process architecture capable of meeting more stringent operating requirements and fueling additional transformation efforts, the team also implemented Coupa as a system of record. 

Results 

In the lead-up to public filing, the company was able to efficiently overcome obstacles, proactively remove project barriers, and pass each milestone in quick succession. Benefits included: 

  • On-time IPO listing at a high valuation to set the future trajectory of the business and deliver returns to investors. 
  • Technology-enabled value creation in the form of automated workflows, streamlined finance and accounting activities, and integrated enterprise systems. 
  • End-to-end transaction governance and program management to achieve the target state. 

With this new foundation, the company is poised for continued growth and the ability to navigate future market opportunities.