About Spot AI
Spot AI was formed by engineers from Stanford, Cisco Meraki, and Samsara, with the mission of visually indexing the physical world and making that data useful to everyone at work.
With an easy-to-use AI camera system, Spot AI unlocks the power of video data, transforming that into Video Intelligence that helps companies improve their security, safety, efficiency, and more.
In the world of Video Surveillance, security pros would access systems once in a few months to catch the bad guy. In the new world of Video Intelligence, everyone at work - including operations pros, environmental health and safety, security, and the frontline workforce - will all use video intelligence to make better decisions every day.
Spot AI has been quietly building its technology and customer base since its founding in 2018, and already has hundreds of customers and thousands of users. Notably, its customers reach well beyond early tech adopters, spanning from SpaceX to transportation company Cheeseman, Mixt, and Northland Cold Storage.
In 2021, Spot AI scaled bookings 10x and is continuing to grow aggressively. Backed by Redpoint, Bessemer, and Village Global, Spot AI is well-positioned to disrupt the $30B video surveillance market and lead the $100B Video Intelligence movement.
Check it out: Customer testimonial - Choice Labs
Spot AI’s Business Model
Spot.ai is pioneering an operating model that is transforming a $30B video surveillance hardware market into a significantly larger video intelligence software market.
The model is unique in both its high gross margins, the speed of its growth, and its ability to produce significant operating leverage. Backed by top-tier investors, the firm produces significant operating cash and has customer retention rates that are the envy of any firm pursuing a recurring revenue model. Nevertheless, it is also a highly complex business as the firm deploys a model whereby a hardware device is provided free to adopt customers in order to facilitate the capture of long-term recurring revenue flows.
The Head of Strategic Finance role
This combination of attributes means that the successful candidate will be a strong executive partner to the CEO, GTM leader, and supply chain leader. They will think strategically but will have the ability to do both, execute critical business initiatives while building a world-class team that will scale. The ideal candidate will have knowledge of both recurring revenue models as well as experience with businesses that either carry inventory or sell/distribute hardware (either bundled or sold individually).
Develop, refine & report metrics for use in:
- Corporate planning.
- Banking / Financial Partner acquisition & compliance.
- Investor relations.
Identify & execute capitalization initiatives that leverage the firm’s unique operating attributes:
- Receivables financing.
- Inventory financing.
- Debt & lines of credit.
Drive the identification, scoping & implementation of core systems needed to scale (e.g., Accounting, ERP to manage inventory, Planning/Forecasting, etc.).
- Build and staff an FP&A team.
- Maintain a rolling forecasting methodology that involves regular variance.
- Produce executive & board reporting materials that allow the firm to showcase its performance and make informed & timely decisions.
- Recruit & Manage the accounting team. Key immediate roles include: Controller, Collections, and Cost Accounting.
- Drive a close process that produces results within 3 days of month-end.
- Hire & Manage auditors.
Maintain close partnership with supply chain organization to provide accurate forecasts on a dynamic basis to ensure that an optimized supply of devices is available.
As our new Head of Strategic Finance, you have:
- High degree of intellectual curiosity with a desire to serve as a thought partner to the CEO & board.
- Strong leadership skills with the ability to work closely with other leaders across the org.
- Demonstrated ability to hire and mentor A-player talent.
- Highly refined analytical mindset with the ability to quickly explore options & make recommendations.
- Impeccable communications capabilities with the ability to craft stories that address the needs of key stakeholders.
- Demonstrated ability to thrive in a startup environment, epitomized by a mindset that rapid growth, lean resources & rapid change are exciting (not scary).
Experience & Education
- 5-8+ years of financial management experience.
- Recurring revenue experience.
- Experience with hardware or inventories is a plus.
- Solid understanding of revenue recognition and cost accounting, particularly as it relates to reporting and forecasting.
Spot AI Values
- Work backward from the customer’s goals.
- Keep it simple.
- Be curious.
- Bias towards action.
- Focus on getting it right, not on being right.
- Bet on the long term.
Work with Others
- Own your outcomes.
- Help your team.
- Communicate openly and deliberately.