Why does Backbend exist?

Backbend’s mission is an extension of my professional experiences, but the customer need is driven by something even more significant. According to the Wall Street Journal, the funding for seed stage startups in July of 2021 has eclipsed all funding in 2020, with over $112.5B pouring into early stage businesses.

What’s even more impressive? The baseline, 2020 experienced an 80% increase in funding over 2019. In short, the trend of massive amounts of capital being injected into early stage businesses is accelerating. That’s a lot of new companies and new teams being formed!

Most of those companies at Angel and Seed stage can’t afford a CFO, and for good reason. They’re investing in engineering, product, marketing and operations. Even if they decide to hire a CFO, the next challenge is finding an experienced CFO who is willing to take a pay cut to join a team for a heavy equity-weighted compensation package.

Backbend serves these companies by providing great CFOs partners, with venture experience, at a fraction of the cost. Smart venture companies always seek an arbitrage opportunity. So…does 80% of the value of a full-time CFO, at 20% of the cost appeal to you?