Fractional CFO for cybersecurity companies
Cybersecurity software typically sells under multi-year contracts with multi-element pricing - platform subscription, endpoint, identity or asset counts, services, sometimes managed detection retainers. Renewal economics and net retention are unusually readable to investors here, which means the bar for ARR and cohort reporting is high.
ARR is built around the unit the product is priced on - endpoints, identities, workloads, assets - and net retention modelled at module and account level so the platform expansion story is visible. Where the product carries breach-related obligations or audit exposure, reserves and risk reporting are explicit.
Flow provides financial modelling, FP&A and fractional CFO advisory to cybersecurity companies across endpoint and identity, cloud and application security, network and infrastructure security, security operations and SIEM/SOAR, and managed detection and response. We work as the outsourced startup CFO through growth, fundraising and sale processes.
KPIs to track for "cybersecurity" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
ARR
Net retention
Endpoints / identities / assets
Enterprise customer count
Module attach
Multi-year contract mix
Renewal rate
Pipeline coverage
Gross margin
CAC payback
Financial modelling for "cybersecurity" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
ARR by unit of pricing
Bookings to ARR built on the unit the product is actually sold on - endpoints, identities, workloads, assets - with new, expansion, contraction and churn separated by module. Avoids the platform-ARR optical illusion that hides per-unit price compression.
Net retention and module attach
Net retention modelled at module and account level so the platform expansion story is visible rather than asserted. Surfaces the next module each customer is positioned to add, with attach conversion rates calibrated against actual cohort behaviour.
Multi-year contract waterfall
Multi-year deals modelled with annual price step-ups, co-term events and renewal probability per cohort. The recognised-revenue line and the cash collection line stop drifting apart in the model the way they do in the spreadsheet.
CAC payback by motion and segment
Fully-loaded CAC and payback measured by motion - channel, direct, MSSP-influenced - and by enterprise versus mid-market. The blended average usually hides a profitable channel motion and a money-losing direct one.
Sales capacity and pipeline coverage
Quota, ramp time, attainment and pipeline coverage tied back to the ARR plan, with multi-year deal mix accounted for so capacity isn't double-counted against renewal years. Tells you how many reps and how much pipeline are actually needed.
Cap table and SAFE stack
Pre/post-money cap table with SAFE conversions, option pool top-ups and waterfall scenarios under enterprise-multiple exit cases. Founders see exact dilution against the multi-year ARR trajectory before agreeing to round terms.
Founders and investors we've worked with
We've supported winning builders across cybersecurity and beyond.
Seagull Maritime
We acted as fractional CFO to Seagull Maritime, a Norway-based global leader in maritime cybersecurity, risk management and crisis response, providing confidential valuation guidance.
See more
Panorays
As a fractional CFO we performed a confidential valuation of Panorays, a Tel Aviv-based software platform for third-party security management, supporting Elevator Fund's portfolio management.
See more
Marcura
We acted as fractional CFO to Dubai-based Marcura, owner of maritime payroll and B2B payments platform MarTrust, advising on the strategic e-Wallet vendor selection and supporting product/finance integration.
See more
Hector
We acted as fractional CFO to Hector Aurumi, a Dubai-based specialist software house with AI/ML, IoT and data science expertise, providing confidential valuation guidance to the management team.
See more
Testim
As a fractional CFO we performed a confidential valuation of Testim, a Tel Aviv-based AI-based software testing automation platform, supporting Elevator Fund's portfolio management.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across cybersecurity and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for cybersecurity startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to software companies.
Our fractional CFO experience spans across all software verticals.
Explore other sectors
We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
More services
We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for cybersecurity companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreM&A for cybersecurity companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
Learn moreTalk to us
Schedule a call to get a health check on your business and see how we could help.
Fractional CFO
- Fractional CFO for Software
- Fractional CFO for AI & ML
- Fractional CFO for Fintech
- Fractional CFO for Consumer internet
- Fractional CFO for Digital media
- Fractional CFO for E-commerce & marketplaces
- Fractional CFO for Consumer products
- Fractional CFO for Mobility
- Fractional CFO for Digital health
- Fractional CFO for Industrial technology
- Fractional CFO for Digital infrastructure
- Fractional CFO for IT services
Stages
Countries
- UK Fractional CFO
- Ireland Fractional CFO
- France Fractional CFO
- Germany Fractional CFO
- Spain Fractional CFO
- Portugal Fractional CFO
- Italy Fractional CFO
- Netherlands Fractional CFO
- Belgium Fractional CFO
- Switzerland Fractional CFO
- Austria Fractional CFO
- Denmark Fractional CFO
- Sweden Fractional CFO
- Norway Fractional CFO
- Finland Fractional CFO
- Poland Fractional CFO
- Estonia Fractional CFO
- US Fractional CFO
- Canada Fractional CFO
- Mexico Fractional CFO
- Brazil Fractional CFO
- UAE Fractional CFO
- Australia Fractional CFO
Cities
- London Fractional CFO
- Dublin Fractional CFO
- Paris Fractional CFO
- Berlin Fractional CFO
- Madrid Fractional CFO
- Lisbon Fractional CFO
- Milan Fractional CFO
- Amsterdam Fractional CFO
- Brussels Fractional CFO
- Zurich Fractional CFO
- Vienna Fractional CFO
- Copenhagen Fractional CFO
- Stockholm Fractional CFO
- Oslo Fractional CFO
- Helsinki Fractional CFO
- Warsaw Fractional CFO
- Tallinn Fractional CFO
- New York Fractional CFO
- Toronto Fractional CFO
- Mexico City Fractional CFO
- São Paulo Fractional CFO
- Dubai Fractional CFO
- Sydney Fractional CFO