Transitioning: hardware to technology platform to achieve recurring revenue and enhance valuation amidst COVID

Transitioning: hardware to technology platform to achieve recurring revenue and enhance valuation amidst COVID

Increase M&A/IPO company valuation for a private equity backed business that sells digital identity management and biometric solutions to governments, airlines and airports. The company’s focus on hardware was limiting its ability to build repeat business, generate recurring revenue and attract a high valuation. Above all, the company needed to adapt its GTM and product strategy to survive through COVID.