Due Diligence Lead – Software

Engagement Type: Independent Consultancy

Client: Venture Capital Investor (Confidential)

Target Company: UK Software / SaaS Business (~£40m Revenue)

Location: UK (Hybrid / Remote)

Duration: ~20 days over 4–6 weeks

Day Rate: £1,250 – £1,750 per day depending on experience

Overview

A venture capital investor is seeking an experienced Commercial & Operational Due Diligence Lead to undertake independent buy-side diligence on a UK-based software / SaaS company with approximately £40m in annual revenue.

The purpose of the engagement is to provide the investment team with an independent assessment of the company’s commercial performance, operational capability, scalability, and key investment risks.

The successful candidate will work closely with the VC investment team and will engage with the target company’s management team to gather relevant information and validate key assumptions underpinning the investment case.

Objectives of the Engagement

The diligence review will aim to:

• Validate the commercial strength of the business and its market positioning
• Assess the quality and sustainability of revenues
• Evaluate the scalability of the operating model
• Identify key commercial and operational risks
• Assess the credibility of growth projections
• Provide the VC investor with clear recommendations and investment insights

Commercial Due Diligence

Conduct a detailed review of the company’s commercial performance and market context,

including:

• Market size, growth dynamics, and competitive landscape
• Product positioning and differentiation
• Customer segmentation and target markets
• Sales strategy and go-to-market model
• Pipeline quality and forecast credibility
• Revenue mix (ARR, subscription, services)
• Pricing structure and margin drivers
• Customer acquisition cost (CAC) and lifetime value (LTV)
• Retention, churn, and expansion performance
• Customer concentration risks
• Validation of management growth assumptions

Operational Due Diligence

• Evaluate the company’s operational capability and scalability, including:
• Operating model and organisational structure
• Technology and product development organisation
• Delivery, implementation, and customer onboarding capability
• Customer support and success model
• Key operational KPIs and management reporting
• Scalability of operational processes and infrastructure
• Key person dependencies and capability gaps
• Operational risks that could impact growth delivery

Deliverables

The consultant will produce:

• Commercial Due Diligence Assessment
• Operational Due Diligence Assessment
• Key Risk & Mitigation Analysis
• Revenue Quality Review
• Growth Assumption Validation
• Investment Readiness Summary

Outputs will be structured to support the VC investment committee decision process.

Candidate Profile Experience

Experience supporting investment rounds, M&A, or private equity transactions

Skills

• Strong commercial analysis capability
• Deep understanding of subscription revenue models
• Familiarity with SaaS metrics including:
• ARR / MRR
• Net revenue retention
• churn analysis
• Ability to rapidly analyse business performance and identify investment risks and opportunities
• Strong written communication with experience producing investor-grade documentation