How Demostack's VP of Finance Impressed Investors and Raised Funds on Short Notice
In order for me to do my job right – to have a complete picture of everything – I need direct access to contract data.
Here’s a clip from our State of Digital Contracting Summer at the Ironclad Academy, where our community gave us their best contract management advice.
Please note: this video was filmed at our 80s high-school themed event.
- Demostack’s CEO suddenly realized they needed to react fast to take advantage of a fundraising window before market conditions got a lot worse. VP of Finance David Wieseneck new he’d have to put his plans aside and respond nimbly.
- Fundraising is a big lift for Finance, so Dave’s advice is “Make sure you have your s**t together. Make sure you have a COMPLETE picture of everything you need and everything you care about, at your fingertips.” That’s the secret to completing the due diligence in record time.
- Acting on the wisdom that “a business is just a collection of all its contracts,” he had already made sure that all of the company’s contracts were centrally loaded into the Ironclad contract repository, using the Smart Import feature which made it a quick and easy process.
- He went into that fundraise with a complete, up-to-date picture of the business. In the end, diligence only took two weeks and the money was in the bank the next month. The VCs even mentioned how impressed they were with how much detail had been provided so quickly.