Kokoon is an award-winning, venture capital-backed, digital health technology company based in London. Our mission is simple: to transform the experience of sleep and help the world sleep better, naturally.
Kokoon was founded with the belief that science and technology can unlock the full potential of sleep to help us live more productive, happier and healthier lives. In our hyper-connected, over-stimulated world we’ve seen poor sleep and mental health grow to become one of the largest hidden health crises of our generation, recently compounded by the isolation of the global pandemic. Whilst sleep clinics provide fantastic, valuable support for the most chronic issues it’s our mission at Kokoon to make this science accessible to the wider population in a more convenient, more enjoyable manner.
Kokoon has seen strong early traction with over £6m in revenue and a user-base of over 40,000 customers. 2021 sees the company launching subscriptions and B2B sales to complement our consumer sales. We recently announced our latest device - Nightbuds - which is launching in May and has already pre-sold to over 10,000 customers.
Nightbuds are headphones designed specifically with sleep in mind. Using biometric sensors within the headphones, Nightbuds work together with our app to monitor sleep improvements, provide personalised recommendations for sleep improvements, and adapt the audio to the wearer’s sleeping state.
As FD at Kokoon, you will be responsible for the overall financial and operational strategy, and leading its execution.
This is an executive role, and the key mission will be to ensure that the growing operations financial impacts are captured, recorded and reported accurately and timely. You will also set and deliver our financial strategy; this will include setting our short term and long term financial strategy, managing our financial model, setting our annual budget and running our objectives process. You will monitor and report on progress against these plans to the board and across the organisation. You will be accountable for forecast accuracy, risk management and rapid identification and response to any changes. You will also be accountable for financial compliance across the business. You will build and lead the Finance team. Finally you will be a key contributor to the senior management team and at board level.
What you’ll be doing
Executive and general responsibilities
- Lead our Finance and Operations teams, being directly accountable for the team’s growth, performance and continued development.
- Manage the company financial model
- Develop strategic and tactical initiative business cases
- Oversee and manage the accounting, investor relations, legal, tax, and treasury functions.
- Oversee and manage any third parties to which accounting or finance functions have been outsourced
- Oversee reporting business results and outlook to the Board and Investors, including key trends and suggestions to optimise business financial performance.
- Oversee the company's transaction processing systems
- Participate and directly influence key business decisions as a member of the senior management team and board.
- Lead on setting standards of operational excellence
- Oversee due diligence and negotiate complex transactions
- Identify and report on relevant metrics relating to business performance
- Set the long term financial and operational strategy
- Oversee the annual budget process
- Manage the capital request and planning processes
- Develop the financial performance measures and KPIs that support the company's strategic direction
Reporting & Control
- Monitor and report on performance and progress against budget and plan
- Put in place rapid response to changes in performance
- Oversee the production and issuance of financial and non-financial information
- Ensure compliance with multinational sales tax obligations
- Personally review and approve all statutory filings
- Report financial results to the board of directors and third-party stakeholders
- Accountable for the overall effectiveness and suitability of financial controls
- Understand and mitigate key elements of the company's risk profile
- Monitor all open legal issues involving the company
- Construct and monitor reliable control systems
- Maintain appropriate insurance cover
- Ensure that the company complies with all legal and regulatory requirements
- Ensure that record keeping meets the requirements of third-party stakeholders
- Oversee the relationship with auditors and investigate their findings and recommendations
- Management and control of cash balances and cash forecasts
- Determine investment strategies, invest funds and manage currency risk
Corporate Development / Financing Strategy
- Plan and arrange for debt and equity financing
- Develop and maintain banking relationships
- Represent the company with bankers and investors to a high standard
- Ensure that our business operations support Kokoon’s planned growth in a sustainable way.
- Own and lead on the long-term business IT strategy, ensuring that our internal IT solutions are optimised and that we have robust asset management processes in place.
What success looks like
- Clear financial strategy in place, consistent with business goals
- Approved budget set with full engagement of organisation and delivered.
- Risks managed through the year
- The company has the financial and operational resources it needs to execute against its strategy in a sustainable way
- The Board and senior management team have a shared understanding of key business risks and actions required to mitigated against them
- Senior stakeholders have timely access to the metrics (financial and non-financial) that help them understand their performance
- The finance functions have the tools and technology needed to provide optimal support to the business
Who we’re looking for
- ACA/ACCA/CIMA fully qualified
- Strong financial and accounting background, bulletproof on technical basics, an expert in their field.
- Extensive experience (5+ years) in high-growth environments with direct responsibility for business financial and operational strategy
- Experience In multinational on-line selling B to C using multiple direct and indirect channels
- Willingness and ability to understand all levels of the financial and operational function, and immerse themselves into the detail in order to ensure delivery of accurate and timely information and to best support and lead the department.
- Experienced in reporting to the board and managing key stakeholders, and in leading and planning for fundraising rounds.
- Strong business operations background and experience with corporate governance
- Someone who believes in continuous learning and leads by example by being open about what they don’t know, but actively upskilling and experimenting.
- Bachelors and Masters degree (or equivalent) in accounting or other finance or business-related studies
- Ability to inspire confidence and create trust at all levels across the business
- Ideally has experience operating in the large corporates and smaller scaling SME environments
- Critical thinking, strategic acumen - able to understand trends, market data, business risks and create innovative solutions to upskill, protect, and grow our business.
- Excellent financial modelling skills and ability to work with complex excel models