Maximizing Runway & Efficiency for High-Growth Biotech Startup
Maximized Series B funding runway by transforming finance operations through strategic outsourcing, enabling the biotech startup to redirect $277.5K annual savings towards critical R&D and core innovation
BIOTECHNOLOGY
A Series B biotech startup faced unsustainable operational costs with 3 SF-based finance FTEs handling transactional AP, Purchasing, and T&E, plus contractors. Inefficient AP processes were damaging relationships while limiting bandwidth for strategic planning. They needed to extend their $50M Series B funding runway. We stepped in as their strategic finance transformation partner.
<24 Hours
Invoice processing time
>50
Cost reduction target
3 Days
Month-end close timeline reduction
Goals
Extend funding runway for R&D cycles
Optimize finance operations costs
Improve process efficiency and standardization
Enable focus on core scientific innovation
Build scalable finance function for 300% growth
Our Solution
Implemented end-to-end AP, Month-End close support, T&E Administration, and Purchasing operations outsourcing
Deployed 3 offshore FTEs as augmented team supporting SF-based finance leaders
Introduced AP automation & standardized processes
Expanded scope to include month-end close and reconciliations
Results
- 62% cost reduction ($277.5K annual savings)
- 160.87% increase in finance team budget runway
- 304.86% three-year ROI
- Invoice processing reduced from 5 days to <24 hours
- Month-end close shortened by 3 days
- 35% improvement in vendor satisfaction
- Enhanced financial visibility for strategic decision-making
- Standardized processes with expert oversight
- Scalable finance function supporting 300% projected growth
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