Customer Case Study with Hari Raghavan (Co-Founder and CEO of AbstractOps)
Meow Technologies is a financial technology company, not a bank or FDIC-depository insured institution.
Advisory services are offered through Meow Advisory, LLC, an SEC-registered investment advisor. Brokerage services provided by BNY Mellon Pershing, member SIPC, through a clearing and custody relationship with Atomic Invest.
AbstractOps automates the operations and compliance infrastructure needed to scale your business. This includes state registrations, hiring paperwork, annual filings, corporate records, contracts, and much more.
Outside of being the CEO of AbstractOps, Hari is an active startup investor in 100+ companies including Notion, Rippling, OnDeck, AngelList and Pulley. He’s also a limited partner in early-stage VC firms like SignalFire, Ravikant Capital and South Park Commons.
What were the most important factors you focused on before making a decision on your treasury? And how did Meow fit that criteria?
"First: trustworthiness. I’ve spent hours on the phone with the Meow team at this point, and felt comfortable that they take the safety of client assets seriously.
BNY Mellon is one of the best in the business, and that was another important driver of comfort.
Finally, the team has been proactive -- any time there are major market movements, I’ve gotten a call or email from the team that they’re on it.
Second: being able to balance risk & reward. We’ve been able to “ladder” different tranches of capital which gives us a good sense of control of our treasury & cash strategy."
How do you currently use Meow and how do you plan to use Meow in the future?
"Meow is a key component of our cash management strategy. It’s not the only place where we maintain cash, but it’s a valuable tool in our arsenal. Over time, as we raise more capital (or, better -- make more money from our sales / cash efficiency!) I expect we’ll seriously expand the scope of our positions (in reasonable proportion and appropriately manage risk across different accounts and assets/maturities)."
How has the general startup ecosystem changed recently in regards to treasury management and capital efficiency?
"Rising interest rates are a double edged sword. On the one hand, capital markets / fundraising are tighter; but on the other hand, companies with a lot of cash in the bank can use it to meaningfully extend runway.
Take an extreme example: a company with 6 employees that showed enough traction to raise a $20M Series A -- but hadn’t ramped up burn -- yet could theoretically cover their entire headcount cost just with the interest on that $20M!
If you aren’t paying attention to your treasury strategy and your yields on corporate cash, you aren’t being the best possible fiduciary to your shareholders."
The case studies discussed herein were selected based on objective non-performance based criteria and are provided for illustrative purposes. There is no guarantee that Meow will find similar opportunities in the future. Additional information about these investment case studies can be obtained by contacting Meow.