You’ve built a real business. Get an honest view of what it’s worth, what needs work, and what comes next—from people who have bought, run and financed SaaS companies.
Sale, debt or equity. Let’s work out the right next step.
Prior team experience. These companies are not presented as Forthright client engagements.
A buyer sees risk. A CEO knows what it takes to run the business. A lender tests whether the numbers hold up. We bring all three perspectives to your next move.
A decade of buying, evaluating and selling SaaS businesses. We know the questions behind an offer—and where a process can go wrong.
Years of leading SaaS companies through growth, change and exits. We understand the work behind the metrics and the decisions facing an owner.
A decade of SaaS financing. We look closely at recurring revenue, cash flow and downside, with the discipline of someone putting capital at risk.
We organise the evidence and identify what is missing: legal records, contracts, renewals, financials, receivables and payables.
A clear M&A presentation and a concise introduction that describe the business as it is, with evidence behind the story.
Growth, gross and net revenue retention, customer concentration and the other measures a buyer or capital provider will examine.
We tell you what holds up, what does not, and what to work on. Every business has weaknesses. Knowing them early is useful.
Our view of value, the assumptions behind it and the factors that could move it. A useful starting point for a real decision.
Sample term sheets, structures and negotiation points. Understand cash at close, earnouts, rollover and your own walk-away boundaries.
Preparation has value on its own. You leave with the materials, an honest assessment and a clearer decision. Running a sale or financing process with us is a separate choice.
We agree the expected valuation range and engagement terms before we start. Then we run a focused process with clear information and serious counterparties.
Agree your goals, timing, acceptable structures and decision points. Make the important choices before a live offer creates pressure.
Find the right fit, disclose material facts early and expect buyers to do real work. Confidence should come from understanding the business.
Look beyond headline value. Assess cash at close, conditions, funding, structure and the buyer’s ability to complete.
Coordinate diligence, keep questions moving and support negotiations alongside your legal and tax advisors.
The same preparation matters. We build the data room, materials and metrics through the lens of a lender or investor, then help you assess the options.
For debt, that means repayment capacity and downside. For equity, it means growth, economics and what the structure means for your ownership.
Talk to us about financingThe buyer will eventually see the full picture. Our approach is to start there. Material weaknesses belong in the conversation early, while everyone can still make a clear decision.
We surface the issues, explain their implications and help you prepare the evidence. Every business has something that needs work.
We don’t use sunk time and process fatigue to keep people committed to a deal they would not otherwise accept.
We won’t pitch a valuation we don’t believe. If your expectations are far apart from ours, we will say so before we engage.
Forthright does not mean indiscriminate. Sensitive information is shared with qualified counterparties under appropriate confidentiality.
Three partners with complementary experience, backed by founders who have spent years building and investing in SaaS.
Cody brings a decade of fund-side M&A experience at Scaleworks, buying and selling SaaS businesses, evaluating opportunities and working with advisors across the market.
He knows how a buyer assesses risk—and how the way a process is run can help or hurt a deal.
Cody’s background ↗Paul is a repeat SaaS CEO with experience across Assembla, Keen, Chargify, Import.io and Centage. He led Assembla through its sale to Idera and oversaw Chargify’s combination with SaaSOptics.
He understands a transaction from the operator’s seat, including what it takes to keep the business moving throughout.
Paul’s background ↗John led Element SaaS Finance and brings a decade of experience providing capital to SaaS businesses and evaluating borrowers.
His work centers on the quality of recurring revenue, the resilience of cash flow and what a business can responsibly support.
John on SaaS lending ↗Scaleworks co-founder. SaaS entrepreneur and investor, bringing the owner’s perspective to how Forthright works.
Scaleworks co-founder. An experienced technology operator and investor, with a long history of building software businesses.
Owners of SaaS businesses with approximately $1–20m in annual recurring revenue who are considering a sale, debt or equity financing. That is the part of the market our experience is built around.
No. The first engagement is about preparation and an honest assessment. You can decide to sell, raise capital, improve the business or wait. A transaction process is a separate engagement.
The preparation engagement is paid, with scope and fees agreed upfront. If you choose to run a process with us, we agree the execution terms separately before you commit.
We explain our range and the assumptions behind it. If you believe the business is worth substantially more, that is your decision. We can point you toward other advisors. We will not use a flattering number to win the mandate.
No. Candor and confidentiality work together. We disclose material facts early to qualified counterparties, with appropriate confidentiality and controlled access to sensitive information.
The scope of the engagement, the state of your records and how quickly we can assemble and verify the information. We agree the work and timetable at the outset.
Tell us a little about your business, approximate ARR and what you’re considering. We’ll start with whether we can help.
