Philip Smith

Current

Executive-in-Residence at Plug and Play Tech Center
Consulting CFO / COO / CEO at Philip Smith Business & Financial Consulting

Past

Chief Financial Officer at Habeas, Inc
Chief Financial Officer at UPEK Inc
SVP & Chief Financial Officer at RHK Inc

Chief Financial Officer at Moai Technologies
Senior Director, Corporate Strategy and Business Development at Network Equipment Technologies
Director, Business Development, Asia Pacific Latin America at Network Equipment Technologies
Director, Finance, Worldwide Sales, Marketing and Service at Network Equipment Technologies
Division Controllerships and Finance Manager at Tandem Computers

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5 more...

Education

CPA
Imperial College London
Institute of Chartered Accountants

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Recommended

15 people have recommended Philip

Connections

389 connections

Industry

Computer Software

Websites

My Blog

Philip Smith’s Summary

• Senior financial executive with experience in software (including SAAS), hardware, biometrics, semiconductor and telecommunications sectors in both public and pre-IPO private companies.

• Startup, spin-off and turnaround experience including implementation of comprehensive financial systems, business models, planning tools and management of HR, IT, legal, tax and facilities functions.

• Raised over $80m in private funding rounds for multiple companies from significant financial and strategic investors; led IPO processes including banker selection, S-1 filing and road show preparation.

• Significant hands-on international operationing experience in U.S., Asia, Europe and Latin America.

• 5 years senior-level experience in Corporate Strategy and in Business Development.

• CPA (U.S.) and Chartered Accountant (U.K.); B.Sc. in Physics from Imperial College, London (ranked 5th among top universities in the world)

Philip Smith’s Specialties:

Venture fundraising, business development, investor relations, investment banking relationships, spin-offs, M&A, IT, HR, legal, international, manufacturing, software revenue recognition, global tax strategy

Philip Smith’s Experience

Executive-in-Residence

Plug and Play Tech Center

(Privately Held; Venture Capital & Private Equity industry)

2009 — Present (less than a year)

Helping tech startups turn their ideas into real businesses!
Consulting CFO / COO / CEO

Philip Smith Business & Financial Consulting

(Management Consulting industry)

August 2008 — Present (1 year 5 months)

Strategic business and financial consulting to startup, early-stage and emerging growth technology companies. Sample clients include:

• Interim CFO for venture-backed startup developing MySQL database analytic appliances
• Interim COO for a fashion industry crowd-sourcing and B2B startup
• U.S. CFO for an Italian business process intelligence SAAS company entering the U.S. market
• Chief strategy advisor to a voice-to-text startup in the smartphone mobile market
• Interim CFO for a SAAS product quality management company
• Advisor to a Barcelona SAAS software company entering the U.S. market and initiating funding in U.S.
• Advisor to startup developing online eco-based loyalty programs for retail and other sectors

Areas in which I help:

• Strategic planning
• Operational planning
• Financing strategy and venture fundraising
• Business models
• Distribution and channel strategies.
• Pricing strategies
• Mergers & acquisitions
• Business development and partnering
• International Expansion / Relocation (U.S. ←→ Europe / Asia)
• Spin-offs, turnarounds, restructuring and other special situations
• Business systems
• Sales operations
• Financial, HR, IT, legal and related operations

(More details at http://philipsmith.typepad.com/silicon_valley_frontlines/what-can-i-do-for-you.html)
Chief Financial Officer

Habeas, Inc

(Privately Held; 11-50 employees; Internet industry)

November 2006 — August 2008 (1 year 10 months)

$10m , 45 person eMail reputation and delivery services company deploying a “Software as a Service” subscription model. Engineered sale to Return Path in August 2008. Accomplishments included:

• Drove development and adoption of strategic business plan and path to profitability

• Negotiated $3m, Prime+1% venture debt facility with no financial covenants

• Implemented operational improvements reducing operational cash burn by 50% over 3 quarters
Chief Financial Officer

UPEK Inc

(Privately Held; 51-200 employees; Computer & Network Security industry)

January 2004 — July 2006 (2 years 7 months)

Rapidly-growing $56m revenue, fabless-semiconductor company for fingerprint security applications. Operations in U.S., Czech Republic, Taiwan, Japan and Singapore

• Raised $31m in equity funding and$10.5m credit facilities

• Implemented full finance functions and controls from scratch in each country of operation

• Established legal and contracts function including negotiation of distribution agreements and key customer agreements with IBM, Dell, Sony, Toshiba, SanDisk

• Implemented global IT infrastructure including SalesForce.com, Great Plains and fabless semiconductor manufacturing systems

• Established subsidiary companies and infrastructure in Singapore, Japan, Taiwan and Prague and relationships with key local advisors

• Established relationshipswith major investment banks and analysts including Goldman Sachs, Morgan Stanley, JPMorgan, Deutsche Bank

• Developed Sarbanes-Oxley compliance strategy

• Established proactive offshore tax plan and strategy
SVP & Chief Financial Officer

RHK Inc

(Privately Held; 51-200 employees; Information Technology and Services industry)

January 2002 — January 2004 (2 years 1 month)

Brought in to help fix struggling $25m market research and consulting company focused on telecommunications markets. Accomplishments include reducing quarterly expenses from $7.9m to $2.0m and achieving 15% operating margins in Q4 2003 despite substantial revenue decline. Cash flow turned around from $6m burn in 2001 to cash flow positive in Q4 2003. Helped company to reposition as a strategic advisor and consultant to major service providers and system vendors worldwide.
Chief Financial Officer

Moai Technologies

(Privately Held; 51-200 employees; Computer Software industry)

April 1999 — January 2002 (2 years 10 months)

Developed the financial and infrastructure activities of pre-IPO e-Commerce software company in auction, e-procurement and online market spaces. Grew business to over 170 employees, 160 customers and $20m bookings

• Lead the company IPO filing process including timing, banker selection, analyst relations, S-1 preparation and filing and subsequent sale

• Raised $53m in private equity from blue chip investors

• Established relationships with key professional advisors at investment banks, legal, tax and audit firms

• Established all controllership, human resources, facilities, legal/contracts and business management functions

• Implemented PeopleSoft in two months and $45k under plan, replacing QuickBooks and manual systems
Senior Director, Corporate Strategy and Business Development

Network Equipment Technologies

(Public Company; 501-1000 employees; NWK; Computer Networking industry)

June 1997 — April 1999 (1 year 11 months)

Responsible for market research and analysis, strategic plan development, acquisition opportunity evaluation and recommendation, new line of business assessment etc.

• Investigation, analysis, recommendation and deal structure to acquire $80m remote access company in Massachusetts.

• Investigation and recommendation on acquisition of ATM Access device line of business from a major OEM. Structured separate bid for 100% of another ATM Access company in NC.

• Analysis of investment opportunity in pre-public Network Management company – investment subsequently increased in value 500% in 9 months after IPO

•Developed and drove implementation of strategic initiative to enter Japanese equipment market.

• Investigated, developed recommendation and structured bid to acquire $30m 55-person pan-regional NET systems integrator headquartered in Brazil
Director, Business Development, Asia Pacific Latin America

Network Equipment Technologies

(Public Company; 501-1000 employees; NWK; Computer Networking industry)

December 1994 — June 1997 (2 years 7 months)

Responsible for new market evaluation, business unit strategy and planning, distribution strategy, channel partner recruitment and development, and full range of marketing activities. Key role in tripling business in this period to over $40m, with primary focus on China, Japan, Mexico, Brazil, the ASEAN region and India.

• Implemented range of market research and business planning initiatives targeting key geographical and vertical markets. Initiated strategic Asia presence including opening of NET offices in Beijing, Guangzhou and Singapore

• New channel partners recruited in China, Indonesia, Mexico, Colombia and other markets. Acted as NET focal point for key pan-Asia systems integrator and for division relationship with major Europe-based global reseller

• Developed recommendations for NET strategic initiatives including acquisition of Australian switching equipment manufacturer, acquisition of regional distribution partner, and joint venture opportunities in China
Director, Finance, Worldwide Sales, Marketing and Service

Network Equipment Technologies

(Public Company; 501-1000 employees; NWK; Computer Networking industry)

September 1991 — December 1994 (3 years 4 months)

• Managed staff of 35 in CA, Washington DC, and Europe providing full financial leadership role for organization which grew revenues 57% to $284m over 3 years while increasing expenses less than 7% p.a.
Division Controllerships and Finance Manager

Tandem Computers

(Public Company; 1001-5000 employees; TNDM; Computer Hardware industry)

November 1983 — September 1991 (7 years 11 months)

• Controller, Corporate Marketing Division (1988 – 1991)
• Controller, Worldwide Third Party Marketing (1986 – 1988)
• Division Finance Manager, Intercontinental Sales & Service (Asia, Canada, Latin America) (1983 – 1986