An early-stage insure-tech company that provided on-demand insurance for freelancers via its online platform, enabling policy holders to activate and deactivate their insurance policy on demand.
The Company had secured initial venture capital of funding $1.5m and approached BM Advisory for financial advice on expansion and ongoing cashflow management. BM Advisory recognized that the Company relied on a significant IP portfolio and so engaged Metis Partners to explore a potential IP asset or share sale, which could alleviate the working capital pressure and provide the Company with increased financial stability.
We relied on our proprietary Metisology® approach to deliver to accelerated timescales and avoid the Company’s decreasing cash position pushing it towards financial distress. We identified a range of IP assets which were critical to the Company, its revenue generation and its competitive advantage including registered trademarks, software and source code, domain name portfolio, customer databases and a content-rich website.
We curated a bespoke marketing teaser that showcased the Company’s IP and circulated to 3.7k known potential IP acquirers. We created a virtual data room, managed multiple due diligence enquiries, facilitated discussions between potential buyers and representatives of the Company on the future options and the technical capabilities of the platform, and supported the Company and its advisors in assessing multiple offers.
We successfully identified a buyer for the Company and secured an additional $1.5m of investment. The Company’s trade was uninterrupted, ensuring ongoing insurance cover for its customers and facilitating the continued employment of the Company’s key employees.
IP Assets Sold – Trade Mark Portfolio, Software, Databases, Website & Domain
