Know exactly what you’re buying, before you sign.
For buyers and investors about to write a large cheque. We open up the software, meet the people who built it, and tell you in plain English what’s solid, what’s risky, and what it will really cost to fix. Two weeks. One report you can hand to your board.
The demo is a performance. The code is the truth.
Every seller has a polished demo and a confident founder. Neither tells you whether the product survives ten times the customers, whether three years of shortcuts are about to come due, or whether one person is carrying the whole thing in their head. So we go and look.
Our reports are written for the people signing the cheque, not for engineers. Every finding comes with three things: what it is, what it costs you if you ignore it, and what it costs to fix. And if we find nothing serious, we say so — a clean report is a real result, and it strengthens your hand at the table.
What we check.
How the software is put together
We read the code and map how the pieces fit. Then we answer the only question that matters to a buyer: does this hold up if the business triples, and what does holding up cost?
The real state of the code
How much there is, how much is tested, how much is copied, and how much nobody dares touch. We put a number on the shortcuts and on what clearing them would take.
The people risk
Who actually understands this system? We interview the team and flag the classic danger — one engineer who could leave the week after closing and take the product with them.
Security and privacy
How they handle passwords, customer data, access and backups. We check against the standards your future customers will ask about, and we test rather than take anyone’s word.
What they own, what they rent
Who owns the code, which free open-source pieces are baked in, whether the licences permit commercial use, and which suppliers the business quietly depends on.
The true running cost
Cloud bills, licences and the tools nobody cancelled. We show you what it really costs to serve one customer today, and where that number goes as you grow.
AI claims, verified
If the pitch says AI, we check what’s actually running underneath. Sometimes it’s genuinely impressive. Sometimes it’s a spreadsheet and an intern.
A priced fix list
Everything we found, ranked by risk, each with a rough cost and time to fix. It becomes your first hundred-day plan — or your negotiating position.
When people call us.
Buying a company
You’ve agreed a price in principle. We tell you whether the technology supports it, and hand you the evidence that justifies reopening the number.
Investing in a round
Before a Series A or B, we check that the growth story holds up technically — and that your money goes into new product, not into repairing the last three years.
Getting ready to be bought
We run the review from your side first, so nothing embarrassing surfaces during the buyer’s. Fix it quietly now, or price it in yourself and stay in control.
The first hundred days after a deal
The deal closed and now somebody has to own the technology. We turn the findings into a sequenced plan with costs, owners and dates.
How a review runs.
Scope and access
A short call to agree what matters most to you — growth, security, cost, the team — and what we get access to. Confidentiality agreements signed, read-only access, no disruption to the target’s roadmap.
Read the code
Two senior engineers go through the codebase, the release history and the systems it runs on. History is revealing: how a team fixed things over three years tells you more than any document they prepared for you.
Meet the team
Structured interviews with the engineering lead and the key developers. We ask what keeps them up at night. People tell you the truth when nobody is selling.
Test the claims
The claims carrying the most money — capacity, uptime, security, AI — get checked against evidence. Numbers, logs and live tests, not slides.
Score and price
Every finding gets a risk rating and a cost to fix, so a technical issue can sit next to every other line item in your deal model instead of floating above it.
Debrief
You get the written report and a 90-minute session with the people who wrote it. We stay available for the rest of the deal at no extra charge — questions come up late, and they should reach us.
Engagement models.
Red Flag Review
from $12k
One week, one target, deal-breakers only: security, ownership, and whether the product can carry the growth you’re paying for.
- 5 working days
- Written summary and a call
- Deal-breakers with rough fix costs
- Best for smaller or early deals
Full Review
from $24k
Our standard two-week engagement. Everything we check, everyone we interview, and a priced fix list you can negotiate with.
- 10 working days
- Team interviews included
- Full priced fix list
- 90-minute board debrief
Deal Partner
from $40k
For several targets, unusually large systems, or when you want us beside you until the deal closes and the plan starts moving.
- Multiple targets or 3+ weeks
- Support through negotiation
- First hundred-day plan included
- Advisor on call after closing
Frequently asked.
5 questions answered. Still have one? Reach out.
Read-only access to the code and cloud accounts, plus about six hours of the engineering team’s time. We sign whatever confidentiality agreement you and the seller want, and we never touch anything live.