Ofer Smadary, Co-Founder & CEO (former) at Luminate Security
Company: Luminate Security, acquired by Symantec
Description: Perimeter 81’s innovative technology enables businesses to secure their corporate networks more easily and efficiently.
When did you start working with Nextage?
I started working with Nextage in 2016, even before we established the company – I wanted to approach investors,
so I needed assistance with budget planning and other financial issues. They helped me when we were just starting out.
What did Nextage work on once Luminate was established?
The company was officially established in 2017, and from the start, Nextage took care of all our financial operations.
This ranged from day-to-day bookkeeping, operations, and taking care of billing for clients, all the way to high level financial strategy, including board meetings and taxes.
They coordinated our work with E&Y and helped us establish a company in the U.S. As a software company, you need to have a license to operate in every state in the U.S.,
and Nextage helps us get certified in 50 states in two years. They also dealt with all of the different financial and bureaucratic details required by each state,
including pensions, health benefits, salaries, etc.
What was your working relationship like with Nextage?
I was lucky enough to work with Dvora Nuriel, she was great.
She really understands what’s needed from her end, and she was available to take any call – including nights and weekends.
She provided us support with everything related to taxes, payments, and the due diligence process, and she was really good at her work.
Our acquisition was rather fast – it happened after two years, and the due diligence process was quick: it took about 5 weeks until the signing & closing.
She managed the entire process and did a lot of the post-sale process as well, including onboarding related to the finances. She was really great.
What does the relationship with Nextage look like after the acquisition?
Well, the company is still working with Nextage. And I am, too – for my next startup.
They’re providing me with day-to-day assistance, as well as overall strategy support. I’m also working with Dvora on this next company.
Everyone at Nextage did a great job, and that’s why I’m working with them again.