" I can't say enough good things about how Accutrac Capital has solved our rapid growth cash flow issues. They've really allowed us to move to the next level of growth…and the results prove it!" - Tal Hayek, Co-founder and CEO, AcuityAds
About The Client
Founded in 2009, AcuityAds provides cutting edge technology that connects advertisers with publishers
of online ad space. Their fully automated solution works much like the bids on a stock exchange, allowing advertisers to bid in real time on ad space
that's highly focused and targeted to their ideal customer market. Rather than purchasing less efficient blocks of ad space, Acuity's technology lets
advertisers bid in single ad increments, all performed milliseconds before an online page is opened.
"I was very disappointed with how conservative the Canadian banks were," says Tal Hayek, co-founder and CEO of AcuityAds. "They would only consider us if we provided personal guarantees for funds advanced. True, we were a fairly new startup. But we were experiencing high growth and had built a solid customer base and accounts receivable list. And, we had a history of creating other successful startups. We considered bringing in another investor, but that would mean giving away a piece of our company…and that simply wasn't an option we wanted to pursue. Then someone in our industry recommended Charles Sheppard and Accutrac Capital. I can't say enough good things about how Accutrac has solved our rapid growth cash flow issues. They've really allowed us to move to the next level of growth…and the results prove it!"
When AcuityAds came to Accutrac Capital, we saw a pattern common to most high growth companies. Cash flow can rarely keep up with rapid growth. That's especially true when a company wants
to further fuel and optimize that growth. Our factoring financing model allowed us to provide funding where the banks wouldn't. As Acuity grew, so
would their ability to acquire additional funding.
"Most people don't realize the huge demand that rapid growth places on cash flow. Not only did working with Accutrac Capital provide us with the cash flow to invest in and grow our business, their professional service and systems greatly improved our receivables collection time," says Tal.
Accutrac Capital worked with AcuityAds to create a customized factoring solution that would:
- provide financing to fuel the company's growth and to keep cash flow flexible
- perform customer credit checks
- manage receivables and collections
Through Accutrac Capital's factoring solution, AcuityAds was able to acquire funding to meet their growing payables and invest in the growth of their business.
In less than two years, they've more than tripled their revenues and workforce and have expanded into the US. They have built Acuity to the point where
it now qualifies for traditional financing.
"In the last year alone, we've grown from a staff of 15 people to 50 people. Our revenues have increased 360% and we're processing more than 20 billion online transactions a day. We just opened a New York office with a US sales force. We wouldn't have been able to do any of this without the expert assistance of Charles Sheppard and Accutrac Capital," says Tal.