Fractional CFO for BI & analytics software companies
BI and analytics products are mid-transition from seat licensing to consumption pricing on queries, compute and data volume. Embedded analytics adds OEM-style arrangements that don't fit a clean per-seat model, and ARR stability is genuinely lower than classic SaaS.
Two retention curves usually need to exist - one for seat ARR, one for consumption - because they behave differently and rolling them together hides the dynamic that matters. Infrastructure cost is modelled at workload level so heavy-use customers don't quietly drag gross margin.
Flow provides financial modelling, FP&A and fractional CFO advisory to BI and analytics software companies across self-service BI, embedded analytics, data science and notebook platforms, augmented analytics and AI-assisted insight tools, and vertical analytics applications. We work as the outsourced startup CFO through growth, fundraising and sale processes.
KPIs to track for "BI & analytics software" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
Seat ARR
Consumption revenue
Net retention
Active users
Queries / compute units
ARPU
Gross margin
Logo retention
CAC payback
Edition mix
Financial modelling for "BI & analytics software" 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.
Seat ARR vs consumption split
Two retention curves modelled distinctly - seat ARR on annual contracts, consumption on query and compute usage - with the bridge between them made explicit. Combining them hides the structural ARR-stability gap investors price for.
Workload-level COGS attribution
Compute, storage and warehouse cost attributed to specific customers and workloads rather than blended into one COGS line. Heavy-use accounts that quietly drag gross margin become visible before they dictate pricing change.
Embedded OEM revenue model
OEM and embedded-analytics arrangements modelled separately with their own minimums, true-ups and royalty structure. Pulls them out of headline ARR where they otherwise distort the cohort and retention picture.
NDR & GRR by edition
Net and gross retention measured cohort by cohort split by edition and motion, with upsell from edition mix separated from seat and consumption growth. Shows whether expansion is real product depth or a price-card change in disguise.
CAC payback by motion
Fully-loaded CAC and payback measured by self-serve, inside sales and field, with edition and segment overlays. The blended payback number normally conceals one motion subsidising another.
Sales capacity model
Quota, ramp and territory coverage tied back to seat-ARR and consumption-expansion targets separately. Tells you how many reps and CS engineers you need hired by when, not a blended headcount line.
Founders and investors we've worked with
We've supported winning builders across BI & analytics software and beyond.
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.
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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.
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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.
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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.
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Percepto
As a fractional CFO we performed a confidential valuation of Percepto, a Tel Aviv-based autonomous drone monitoring platform for critical infrastructure and industrial sites, supporting Elevator Fund's portfolio management.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across BI & analytics software and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for BI & analytics software 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.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for BI & analytics software companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
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We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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