Sales Financial

Vincent A. McCord

*** **** ******, #*, ***** Monica CA 90403

Cell: +1-408-***-**** Email: ********@*****.***

CFO/COO

– Deep experience of venture capital backedstart-up, growth, and pre-IPO companies –

-Significant fund raising experience – debt and equity-

Deep experience managing venture capital backed, fast moving start-up, growth, pre-IPO, and public companies, and have managed 11 equity raises, totaling some $121 million, and eight debt financings, totaling some $51 million. Personally led the sales of three companies and supervised the liquidation of one company – the latter so successfully that it triggered a large bonus from the venture capital owners. A Silicon Valley-based career in software and other technology companies - unusually conversant with technology for a non-engineer, and can relate comfortably to technology-driven leadership.

Education/Affiliations

MBA, Harvard University, Cambridge, MA

BS, Applied Mathematics, Georgia Institute of Technology, Atlanta, GA

PROFESSIONAL EXPERIENCE

Early Growth Financial Services, 3/2016 - Present

Two hundred-person financial services firm based in San Francisco Bay area providing CFO services, accounting, financial planning, tax services and IRS 409A evaluations for primarily emerging technology companies.

Consulting Chief Financial Officer - Santa Monica, CA

Providing financial planning and financing as well as managing senior accounting staff for a variety of technology start-up clients including an internet restaurant order-processing company and a treasury-application enterprise resource planning company for global 2000 companies.

Projects include financial planning, fund-raising, establishing on-line accounting systems, financial policies and procedures. In addition, marketing and business development efforts for the firm include giving financial seminars and sales calls on prospective clients.

Consulting Chief Financial Officer, 3/2014 – 2/2016

Assignments included private, startup companies in SAAS software and data analytics,social media, life sciences, bio-sensing wearables, security, and consumer products. Projects involved financial planning, fundraising, revenue recognition policies and procedures,IRS 409A reporting, and compliance.

REDSEAL NETWORKS, INC., Santa Clara, CA, 2011-2014

A 2004 startup providing enterprise security software; Clients include Walmart, Cisco Systems, Discover Financial, Capital One, T-Mobile, and Nationwide Insurance.

Chief Financial Officer and Corporate Secretary, 2011-2014

Recruited directly by CEO and directed Annual Operating Plan process. Orchestrated major company restructuring in 2013 to reduce expenses, and obtain financing for debt enabling more effective cash management. Provided business overview for decision making including financial and non-financial metrics. Oversaw HR, legal, and facility management. Directed 4 staff and $2million general administrative budget.

Spearheaded customer contract negotiations resulting in closing sales transactions on $20 million + revenue.

Negotiated $10.5 million of term debt and receivables financing over 2 years which enabled survival as company grew business and experienced operating losses. Also, prepared monthly and weekly cash forecasts that resulted in $3million additional capital infusion from investors.

Reduced workforce by 23% and cut monthly spending at an annual rate of $5.4 million

oEstablished software revenue recognition policy for multi-element product offering.

oEnabled positive cash position in Q4 2013.

oSaved $700K annually by creating variable sales compensation plan.

oAvoided monthly spend of $25K by establishing travel expense policy and launching online expense reporting for processing more than 100 expense reports.

oObtained $60K annual savings by negotiating office lease below market level for a new location.

oSelected and outsourced payroll and benefits administration function saving $7K/month while providing better benefit coverage.

Led the 1st 3 financial audits covering years from inception through 2010; all audits passed without significant findings.

Defined and established effective order fulfillment process.

ZENVERGE, INC.,Cupertino, CA,2010-2011

A manufacturer of semiconductor products for the consumer electronics (video) industry;Customers included Sharp, Toshiba, Motorola, DirectTV, and Dish Network.

Chief Financial Officer and Corporate Secretary,2010-2011

Collaborated with CEO in raising a $20M round of equity from new lead investor and existing investors. Provided all due diligence for new lead investor. Directed $1.5M budget, HR, and legal functions with a staff of 2. Recruited by CEO from a referral.

Directed 1st financial audit which passed without any findings.

FLG PARTNERS, LLC, Palo Alto, CA, 2008-2010

A $5 million firm of 23 full-time, part-time, and project CFOs engaged as interim CFOs throughout the SF Bay Area.

Partner and Consulting CFO

Provided strategic and operational financial consultingto public and private clients as an interim CFO. Engagements usually included all financial, HR, legal, and sometimes IT and facility management functions.

Provided effective cash management that enabled a client’s business survival on an average cash balance of $200K while spending $2.5 million per month in operating expenses.

oImplemented aggressive management of vendor payables and collection of customer receivables.

oRaised $5 million of new equity financing with a new lead investor.

oHired a new Controller and established 1st standard costing process – to provide accurate product costs/ gross margins.

oReduced overall products costs by leading company to a new, higher quality, contract manufacturer.

Managed 3 rounds of equity financing toraise $12 millionIn new funding from existing investors for a fiber-optic telecom component maker; negotiated $2.5 million term debt and $5 million receivables line; obtained forbearance agreement with the bank allowing for $20K/month reduction in loan payments.

Reduced inventory by $300K and saved $210K by returning defective parts; obtained $2 million in bridge loans enabling funding of $2.5 million in additional term debt from venture debt lender for a high-definition radio semiconductor company.

FYRESTORM, INC.,Sunnyvale, CA, 2006-2008

A $5 million manufacturer of power management semiconductor components (chips) for handheld consumer electronics; 55 employees.

Chief Financial Officer and Corporate Secretary, 2006-2008

Recruited by acting CEO. Directed finances, HR, legal, IT, and facilities functions, as well as $1.2 million budget and staff of 3.

Established $4 million of term debt financing with a venture debt lender, and negotiated $2.5 million accounts receivable financing with a commercial bank.

Reduced inventory 25%; created 1st order fulfillment process and sales administrative function.

Set up a sales subsidiary in Shanghai that enabled the 1st sales into China.

oCut product cost by 20% through utilization of China-based manufacturers.

Managed sale of company to a public semiconductor company that took on $4 million in outstanding debt obligations, and provided jobs for 23 of the engineers.

Completed Chapter 7 dissolution that removed any obligations and legal exposure of the investors.

NEOSCALE SYSTEMS, INC.,Milpitas, CA, 2003-2005

A $6M manufacturer of disk-based and tape-based data encryption systems; 65 employees.

Chief Financial Officer, 2003-2005

Responsible for financial, HR, legal, IT, and facilities management functions. Managed $1 million + budget and staff of 4. Recruited by an investor in the company.

Reduced inventory by $1 million, and cut product cost by 15% by negotiating favorable terms witha contract manufacturer.

Negotiated and secured $3 million in debt and receivables financing with a commercial bank.

Reduce cost per square foot by 50%, and increased space by 50% by sourcing and negotiating new office lease.

INTRUVERT NETWORKS, INC.,San Jose, CA, 2002-2003

Intrusion-prevention software.

Chief Financial Officer, 2002-2003

Collaborated with the CEO of this IT security company manufacturing intrusion-detection systems in negotiating $100 million sale of company to a large, Fortune 500 IT security company.

INTRUVERT NETWORKS, INC. (Continued)

Secured $20.5 million in equity and working capital financing from a bank, a venture debt lender, and a new lead investor that provided cash during period leading up to the sale.

RANGESTAR WIRELESS, 2000-2001

Design and manufacture of embedded antenna for mobile devices.

Chief Financial Officer, 2000-2001

Managed all financial, human resources, legal and facilities aspects of the Company. Conducted asset sale to Tyco Electronics and conducted self-directed windup of the Company including settlement with all creditors.

CONNER TECHNOLOGY CORPORATION, 1998-2000

A manufacturer of low-cost 3.5-inch hard disk drives assembled in India and China, whose goal was to be a high-volume, low-cost supplier of mainstream hard disk drives to leading personal computer suppliers.

Chief Financial Officer,1998-2000

Personally recruited by Finis Conner to become CFO of his new start up.

Established a very low cost international tax structure and established companies in Ireland, The Netherlands, and Cayman Islands.

Raised $60 million in equity financing – sales ramped up very quickly - $10 million in Q1, $22 million in Q2.

Financial oversight for manufacturing in China.

Entrenched low cost competition meant that business ultimately was not able to replicate the success of Finis Conner’s earlier success (Conner Peripherals, acquired by Seagate) – managed the company through bankruptcy

SDL, 1998

Publicly listed company engaged in development, manufacturing, and marketing for components for fiber-optic telecommunications systems.Chief Financial Officer, 1998

Recruited by the CEO, left after 6 months following multiple personal appeals from Finis Conner to join his new start-up:

Managed all public filings, 10Q, 10-K; oversaw all financial activities of the Company as well as information technology, legal, human resources and facilities. Led the implementation of the Companies first enterprise resource planning system.

Contact this candidate