Since we had the right systems and processes in place and an experienced partner like Propeller at Sir Kensington's, I could focus on other areas of the business that led to our growth and our ultimate sale. As I began my CEO role at Hu, Propeller was one of my first calls.
Mark Ramadan
Supporting The Journey of an Entrepreneur
Mark Ramadan was in college when he co-founded Sir Kensington’s (Sir K’s), a condiment company with the mission of bringing integrity and charm to ordinary and overlooked food. Within a few years, Sir K’s was poised to close a $2.5M seed round of funding. Mark knew Sir K’s finance and accounting needed more sophistication. He wanted to organize his financials, improve cash flow, and gain better insights into his company. He turned to Propeller, which supported Mark and Sir K’s through its eventual acquisition by Unilever. By working together, they forged a trusted bond that held as he continued his entrepreneurial adventure.
Post-acquisition, Mark was brought in as CEO of Hu, a chocolate and snacking company on a mission to help everyone get back to human by combining unbeatable taste with ultrasimple ingredients. This was a more mature business prepared for big growth. In order to take Hu to the next level, he again needed a financial partner that could handle the rigors of establishing processes and best practices. Propeller was, and still is, that partner.
Timeline
Mark Tests Condiment Recipes at Brown University
Mark Launches Sir Kensington’s
Mark Engages Propeller
Sir Kensington’s Closes $2.5M Seed Round
Propeller’s Actions
- Set Accounting Processes & Organized Financials
- Built Budget and Inventory Models
- Tracked AR Factoring
- Organized Trade Spend Costs
Sir Kensington’s Closes $8.5M Series A Led By Verlinvest
Propeller’s Actions
- Created an Investor-Ready Model during Due Diligence
Sir Kensington’s Closes $9.5M Series B Led By Verlinvest
Propeller’s Actions
- Helped Sir K’s Identify, Hire, and Onboard Their First CFO, Monisha Khushalani
Unilever Acquires Sir Kensington’s
Propeller’s Actions
- Supported Acquisition via Organizing Past Financials and Future Projections
Mark Becomes CEO of HU
Mark Hires Monisha as HU’s CFO
Mark and Monisha Engage Propeller
Propeller’s Actions
- Supported Hu’s Netsuite Migration & Report-Building to Accurately Account for Inventory Management
- Setup Inventory Accounting Processes, Systems Transition & Training (Bill.com/Expensify)
- Updated Financial Model and KPIs, and Developed Dynamic Reporting
- Provided Transactional Accounting Services During Key Acquisition Period
Mondelez International, Inc. Acquires Hu’s Parent Company
Propeller’s Actions
- Continues to Be a Trusted Advisor for Mark and Monisha Providing Day-to-Day Accounting Support