Commercial
Due Diligence.
Operator-led.
Spreadsheets tell you what happened. We tell you why — and whether it will hold after you sign.
Independent commercial diligence for private equity, venture investors, and strategic acquirers. Revenue quality, GTM effectiveness, pricing coherence, and organisational depth — assessed by people who have actually scaled businesses.
Operators, not auditors
We have scaled revenue organisations, rebuilt pricing models, and sat in boardrooms as operators. We know the difference between what the data says and what the business can actually do.
Skin in the game
We don't write reports and disappear. Our reputation is tied to the accuracy of our assessment. If we green-light a deal that underperforms, we hear about it — and we care.
Speed without sacrifice
Most due diligence drags on for weeks. We work in focused sprints — typically 2–3 weeks — because investors and founders don't have months to wait for clarity.
Actionable, not theoretical
Every finding comes with implications: what to negotiate, what to fix post-close, what to monitor. Our output is designed for decision-making, not filing cabinets.
Revenue Quality
We dissect the revenue engine — recurring vs. one-off, concentration risk, churn patterns, expansion dynamics, and the true health of the customer base. We distinguish between revenue that compounds and revenue that merely repeats.
- Churn & Retention
- Net Revenue Retention
- Concentration Risk
- Expansion Revenue
Go-to-Market Effectiveness
From ICP clarity to sales motion efficiency, we assess whether the GTM machine is built to scale — or held together by heroic effort. Pipeline architecture, sales cycle dynamics, and CAC efficiency under the microscope.
- ICP & Positioning
- Sales Velocity
- CAC / Payback
- Pipeline Architecture
Pricing Coherence
Is the pricing model capturing value, leaving money on the table, or creating friction? We evaluate willingness-to-pay by segment, packaging logic, discount discipline, and the runway for future price increases.
- Willingness-to-Pay
- Packaging Logic
- Discount Discipline
- Price Elasticity
Organisational Depth
A business is only as strong as the people running it. We assess leadership capability, talent density, incentive alignment, and the organisational readiness to execute the growth plan the investment thesis assumes.
- Leadership Assessment
- Talent Density
- Incentive Alignment
- Execution Readiness
A decision document, not a data dump.
Our output is designed for investment committees and deal teams who need clarity fast. Every finding is tied to a decision: what to negotiate, what to fix post-close, what to monitor, and what to walk away from.
- 01Executive summary with red / amber / green ratings per workstream
- 02Detailed revenue quality assessment with customer cohort analysis
- 03GTM effectiveness scorecard with scaling readiness rating
- 04Pricing coherence review with uplift potential estimate
- 05Organisational depth assessment and key-person risk map
- 06Post-close value creation plan with 100-day priorities
- 07Negotiation leverage points and deal-structure recommendations
Data Room & Setup
Document review, management interviews, and initial hypothesis formation. We identify the key questions that will make or break the deal.
Deep Dive
Customer calls, pricing analysis, sales process observation, and organisational assessment. We validate or invalidate each hypothesis with evidence.
Synthesis
Cross-workstream analysis, risk quantification, and value creation planning. We stress-test every assumption under multiple scenarios.
Delivery
Final report, presentation to investment committee, and negotiation support. We stay available through signing to answer follow-up questions.
See through the numbers before you commit.
If you are evaluating a B2B SaaS or scale-up investment and need an operator's view on what the numbers really mean, we should talk.
Start a ConversationTypical response within 24 hours. All enquiries are strictly confidential.