Top 20 Outsourced CFO Services

Kruze clients have worked with some of the top outsourced CFO services in Silicon Valley and beyond. 

Read more about these top outsourced CFOs (we list them below) or learn about what to look for from a service provider.

Scott Orn and Healy Jones, Kruze Consulting
SCOTT ORN
KRUZE COO, FORMER VC
HEALY JONES
KRUZE VP of Financial Strategy

Top 20 Outsourced CFOs

To help you take your startup’s financial management to the next level, we’ve compiled a list of the Top 20 Outsourced CFOs in the industry. These professionals bring a diverse range of experience and expertise that can tailor financial strategies to meet your startup’s unique needs.

Steve Bennet

Steve Bennet

Palo Alto, California

True Global Ventures, Bodega Partners, Rollbar, Xenio Systems, WaterSmart Software

Solange Bullukian

Solange Bullukian

San Francisco Bay Area

Twist Bioscience, Agilent Technologies, Hewlett Packard

Adam Metzger

Adam Metzger

Brooklyn, New York

Seamless Payments, Harmony Labs, BetterPT, Civic Hall

John Shults

John Shults

Austin, TX

BackOps, Sand Hill Angels, Stephens Inc.

Douglas Jendras

Douglas Jendras

New Fairfield, Connecticut

AboveNet Communications Inc., Metromedia Fiber Network, MCI Telecommunications Corporation, IBM

Lea Dessi-Olive

Lea Dessi-Olive

San Francisco, California

Atomic, StyleSeat, Accenture Management Consulting, PNC

Jeremy Sanders

Jeremy Sanders

Los Angeles, California

UniZ Technology, Ideator, Sanders Advisors, Citizen Healthcare

Brian Plackis Cheng

Brian Plackis Cheng

Santa Barbara, California

software.com, MCI, cielo24

Bob Togie

Bob Togie

San Jose, California

Hewlett Packard, Microsoft, Ericsson, MediaKind

James Jones

James Jones

San Francisco Bay Area

Goldman Sachs, Accenture, Kana Software, Inc., Singularity University

Daniel Morton

Daniel Morton

Vancouver, Canada

Jay Goldberg

Jay Goldberg

Northern California, Remote

Qualcomm, Peregrine Semi, Deutsche Bank, Lazard, Coca-Cola

Vito Palermo

Vito Palermo

San Francisco Bay Area

Secret Golf, Procket Networks, Extreme Networks, Bay Networks (formerly SynOptics), Metawave Communications, MeSoft, Kaazing, Scancafe, University of California, Mahindra Genze, Quantivo, Innova Dynamics, Her Universe, Pareto, SDN Central, Wiretap

Mike Batesole

Mike Batesole

Bay Area

Forte Enterprise Software (Public bought by Sun), VA Software (Public), Dorado, SaaS (Private Series D round bought by CoreLogic), Shaklee, Consumer products (Public), Origin House, Cannabis (Public bought by Cresco Labs)

Bernie Mahon

Bernie Mahon

San Francisco

Chronosphere, Advano, Deep Space Industries, Morgan Stanley

Trey Pruitt

Trey Pruitt

Los Altos, CA (Silicon Valley)

TheFind (acquired by Facebook), Snapfish

Gene Domecus

Gene Domecus

Burlingame, CA

Macys.com, Bella Pictures, Rafter, Blurb, Peerspace, Freestyle VC

Deepak Gupta

Deepak Gupta

San Francisco Bay Area (Silicon Valley)

Price.com, Centric Learning, PRYNT, UNYQ, Nitros

Nitin Mittal

Nitin Mittal

New York, NY

Solera, Branded, Flow Commerce, RadioShack, The Royal Bank of Scotland, Credit Suisse

Jon Schwartz

Jon Schwartz

Minneapolis, MN and Remote

Commons, Ridwell, BookNook, Edstruments, Charter School Growth Fund

Macy Macaskill

Macy Macaskill

NY/CT/Remote

Bear Stearns, JCrew, Madewell, Rockets of Awesome

David Dinerman

David Dinerman

San Francisco Bay Area

Hapara, Inc., Probitas Partners, Grant Thornton, BigFix, Inc.,

Patrick Hoogendijk

Patrick Hoogendijk

Dallas, New York, Amsterdam, Miami

Wethos, Agora, Overproof, Bryzos, Kensu, Carketa, Tangelo, Spark, Toke

Diana Maichin

Diana Maichin

Bay Area (remote), Europe

Genentech, GE Ventures, Amgen, Codexis, Various institutional & corporate venture firms

Nym Raske

Nym Raske

SF Bay Area / Miami / Remote

JPMorgan Chase, FOG Ventures, Truly Technologies, Elodie Games, Skyryse, Fisher Investments

Stanislav Sukhinin

Stanislav Sukhinin

Austin, TX

Save, UniCredit, Societe Generale

Rashi Chowdhry

Rashi Chowdhry

Los Altos, CA (Silicon Valley)

Google, VMware, Oracle, Intuit, Confluent (Silicon Valley), Discover Financial services (Greater Chicago Area)

Jing Mahrus

Jing Mahrus

SF Bay Area/Remote

Shipt, Mural, Orca Bio, Carewell, Genentech, UBS

Mark Sierra

Mark Sierra

Silicon Valley + Remote

Quixey, Sibly, Buysight, Multiple Stealth companies, Sonantic, SixApart/Vox, Fortify Software, Podshow/Mevio, Garage.com, Agile Software, SimpleStar/Photoshow, Packeteer

What is an Outsourced CFO?

An outsourced CFO, or outsourced chief financial officer, is a financial expert who offers CFO services on a fractional, project, or contractual basis. This role is different from a full-time or interim CFO; it is more akin to a consultant but with the responsibilities and expertise of a traditional CFO.

Outsourced CFO services focus on specific tasks like financial projections, audits, and capital raises, depending on their qualifications and your startup’s needs. Different service providers specialize in specific industries or stages of startups, turnarounds and more.

Make sure you carefully vet anyone you speak with to make sure they are the right fit for what your startup needs.

Why Outsource CFO Services?

Many startups, particularly those in the Seed or Series A-C stages, find outsourced CFO services advantageous for several reasons:

  • Expertise Without Overhead. You get the benefit of specialized financial knowledge without the operating costs of a full-time professional, such as salary, benefits, and bonuses. An outsourced CFO service allows you to cut costs without cutting corners on financial expertise. Finance leaders are some of the most expensive people to hire right now, so this is a great way to get advice without breaking the bank.
  • Flexibility. Outsourced CFOs work on a flexible schedule, fitting your company’s specific challenges, goals, or project requirements. It means that the outsourced services can adapt as you scale, offering increased value as you grow. Of course, you need to make sure you are working with a provider who can scale with you.
  • On Demand. With an outsourced service provider, founders can pull in the help they need when they need it. Startups should consider hiring strategic finance help at least one quarter before a new fundraising round to aid in projections, KPI preparation, and financial reporting. Their expertise and network could provide a leverage point during these critical phases.

Signs Your Startup Needs CFO Outsourced Services

If you’re still contemplating CFO outsourcing, here are a few signs that your startup might need one:

  • The CEO is consumed with financial projections and reporting multiple times a day.
  • Investors are demanding increasingly complex data on performance.
  • The CEO and COO are deeply involved in multiple client contracts and sales negotiations.
  • Your startup is mulling over going public within the next 12-18 months.

Usually by the time a startup is at the Series D, it will have an in-house finance leader who will have begun to build out a team, from staff accountants to FP&A leaders. However, prior to that, it’s totally normal to get part time help, even at the leadership level.

What Does an Outsourced CFO Do?

An outsourced CFO takes on various roles, specifically designed around your startup’s unique needs. Some of the tasks include:

  • Managing financial reporting and monthly book closures
  • Coordinating and providing advice on fundraising logistics
  • Overseeing contract negotiations, like new leases or significant vendor contracts
  • Strategic planning for short-term, mid-term, and long-term financial goals
  • Updating existing investors with performance numbers and metrics

10 Outsourced CFO Services Startups Should Consider

Digging into more detail and going beyond the tasks we outlined above, startup founders should look for a number of essential services from their part-time finance leader. These include financial projections, cash/treasury management, fintech systems optimization, and important contract negotiation assistance. 

  1. Managing the budgeting process. It’s not just setting up projections that you use to run the business - eventually running a budgeting process becomes a lot of work. This includes coordinating with your business unit leaders, understanding where the board of directors expects the company to go in the near future, reading the tea leaves on the financing market - this is a place for an outsourced CFO to shine, and possibly be the bad guy who has to tell your marketing leader that they can’t spend like a drunken sailor.
  2. Budget vs actuals. Every month it’s best practice to compare actual financial outcomes with initial budgets to gauge business performance. This analysis identifies areas requiring strategic shifts and checks the viability of your budget. Your finance leader can do the grunt work - and can also bring the important variances to your attention.
  3. Contract reviews. Major customer contracts - and vendor contracts like leases - can have an outsized impact on a startup’s financials. Get advice on customer contracts to minimize risks and optimize profit. These reviews are most effective when the CFO understands your business sector and target market.
  4. Financial presentations. As startups mature, their investors expect increasingly complex financial reporting presentations at the board level. Experienced finance leaders can take this off of the CEOs plate, although it’s always best that the CEO review what is getting presented in advance so that there are no surprises. 
  5. Cash management. Startups that have a lot of cash can earn a yield that boosts their runway. You can learn more on our cash management and FDIC coverage page about how startups can safely earn cash on their VC dollars. 
  6. Coordinating fundraising. While the founders should spearhead the actual investor relations and fundraising activities, a CFO can play a crucial role in streamlining and coordinating the entire fundraising process. They can prepare essential financial documents, create compelling pitch decks, and develop robust financial models to support your case.
  7. Tracking Key Performance Indicators (KPIs). One essential service an part-time CFO can offer is the systematic tracking and analysis of KPIs specific to your startup’s industry and stage of growth. This enables you to quickly gauge the effectiveness of your strategies, make data-driven decisions, and demonstrate your startup’s progress to investors.
  8. Sounding board for the CEO. Another often underestimated yet critical role that an outsourced CFO can play is acting as a strategic sounding board for the CEO or founder. Making high-stakes decisions in a startup environment can be stressful and complex. Having an experienced finance leader to consult with can provide an invaluable second opinion, not only in financial matters but also on broader business strategy, market positioning, and even team dynamics. Their seasoned perspective can help you weigh the risks and benefits of various courses of action, encouraging you to challenge your own assumptions and consider alternative strategies. Essentially, a good finance leader offers more than just financial expertise; they offer the kind of counsel that can help a CEO navigate the many challenges that come with scaling a startup.
  9. Optimizing the FinTech stack. Experienced finance professionals, who know your stage of business and the next, can be instrumental in setting up and fine-tuning financial technologies that will scale with your startup. From choosing the right accounting software to implementing advanced data analytics tools, the right partner ensures that your financial systems are robust, compliant, and agile enough to adapt to changing needs. They’ll assess existing processes and recommend optimizations that will automate workflows, improve data integrity, and provide real-time insights. By laying a strong foundation for financial technology, they can help you to scale efficiently and position your startup for long-term success.
  10. Strategic planning and long-term visioning. A great CFO is not just a numbers person; they can also be a vital partner in shaping the company’s strategic direction. Leveraging their deep understanding of your financials and market conditions, they can assist in crafting a comprehensive strategic plan that aligns with your long-term objectives. This includes scenario planning, assessing potential market opportunities and risks, and creating financial models that forecast various growth pathways. Their insights can help guide key decisions around product development, market expansion, and resource allocation, ensuring that every tactical choice feeds into a cohesive, sustainable growth strategy. By actively participating in strategic planning, they can become an integral part of your company’s future, helping you prepare for the opportunities and challenges that lie ahead.

Note - one thing we don’t think you can totally outsource is fundraising. VCs will want to meet with the CEO. While a finance person can help set up meetings, answer diligence questions and manage the process, they should not be the people running the meetings with VCs nor should they be the face of the company.

Choosing Your Outsourced CFO

When selecting an external CFO, consider the following:

  • Industry Specialization. Some startups, like those in biotechnology, require specialized financial strategy. In such cases, look for a chief financial officer outsource expert who understands your industry’s unique financial complexities.
  • Bandwidth. Part time finance leaders are often in high demand, so ensure your chosen professional has the time and attention to dedicate to your startup’s financial success.
  • Compatibility. Your outsourced CFO should complement your management style. For instance, if you’re not detail-oriented, your CFO should be comfortable diving into the nitty-gritty of financial management.

Final Thoughts

Outsourcing your CFO function offers a balanced approach to achieving expert financial oversight without the hefty price tag of a full-time executive. Especially for startups in fast-paced growth or transitional phases, CFO outsourcing services deliver invaluable insights to set you on the path to success.

If you have questions about outsourced CFOs or need additional resources on startup accounting and finance, feel free to reach out to us. Also, check out our YouTube channel and blog for more insights into startup finance, HR, and taxes.

Unlock your startup’s potential today with the strategic advantage of outsourced CFO services.

READY TO CONNECT FOR A FREE CONSULTATION?

We are the experts at helping seed/VC-backed Delaware C-Corps with their accounting and finances!

Talk to an experienced accountant, not a generic sales person

 Kruze Consulting
Alex Janeck
 Kruze Consulting
Edith Silva
 Kruze Consulting
Randy Hall
Viz AI

$250M+ VC Funding Raised


"I had a great experience working with Kruze Consulting when we raised Series A. They know what VCs need to see, and how to present a startup’s books and finances. If you are going to raise venture capital, you need experts like Kruze."
Chris Mansi

Chris Mansi

CEO

Startup Venture Capital Assistance

With former venture capitalists on staff, our team is here to help you navigate the fundraising process and manage your board of directors

 Kruze Consulting
Scott Orn
COO | Former VC
 Kruze Consulting
Healy Jones
VP FP&A | Former VC
Pequity

Scale Remote Operations & Team


"Kruze has supported us above and beyond basic accounting needs by ensuring we have everything we need to expand and support our team wherever they may be located"
Zack Fisch

Zack Fisch

Head of Operations & Legal

Clients who have worked with Kruze have collectively raised over $15 billion in VC funding.

We set startups up for fundrising success, and know how to work with the top VCs.

 Kruze Consulting
Vanessa Kruze, CPA
Founder & CEO
Kruze Logo

Experienced team helping you

Our account management team is staffed by CPAs and accountants who have, on average, 11 years of experience.

 Kruze Consulting
Bill Hollowsky, CPA
VP of Accounting Services
 Kruze Consulting
Claudine Vantomme, CPA
Controller
 Kruze Consulting
Morgan Avery
SUT/R&D Sr. Tax Accountant
 Kruze Consulting
Beth Bassler
Controller, CPA
Protara Therapeutics

Grew from a 2-person startup to a NASDAQ listed public company.


"The Kruze team helped us grow from a 2-person startup to a NASDAQ listed public company in 2 years. We wouldn’t have gotten public without Kruze’s support. Anyone thinking of launching a startup should make Vanessa their first call!"
Jesse Shefferman

Jesse Shefferman

CEO

Kruze Logo

Get in Touch

Please help us connect with you

How can we reach you?

Our first response is typically via email, so please check your inbox.

Help us have a productive first consultation by providing some additional information.

What year was your startup incorporated?

What is your stage of funding?

(pick up from the list)

Approximately how much funding have you raised?

(please enter a dollar value such as 5000000)

Help us understand what you are looking for:

(Optional, click the ones you need)

Anything additional that you’d like to share?

Optional - if you’d like to share anything else to help us prepare for our consultation, please let us know. We are also happy to sign an NDA, just let us know.

Important Tax Dates for Startups

  Talk to a leading startup CPA