Financial Foundation Rebuilt: How MedTech Innovator Bruin Biometrics Pivoted to SaaS Growth

Backstory

Bruin Biometrics, a pioneering medical device company, is on a mission to prevent bed sores, a leading cause of mortality and compromised patient safety globally, through patented and cutting-edge technology. With multiple entities and an ambitious roadmap to capture major market potential, the business hit a critical roadblock to its growth goals when the then-current CFO abruptly left the company.

Bruin Biometrics needed more than a patch. They needed a strategic partner to engineer a full financial transformation — and fast!

Growth and Confidence Challenges

Bruin Biometrics faced a storm of compounding financial issues when their prior CFO left, each of which posed a threat to growth and stability:

• Financial Reporting Gaps Eroded Assurance

  Management's trust in financial reporting accuracy diminished without full financial team resources. Despite the Controller's best efforts, the excessive workload placed on a limited finance team created unavoidable challenges in maintaining comprehensive reporting standards.

• Complex Limited Liability Corporation Cap Table Tracking Delayed Audit Completion

  The company's capitalization table was complex and manual. These complexities directly reduced response times to investor queries and made modelling of equity investments overly challenging and labor-intensive. 

• Manual Budgeting Process Hindered Visibility for Strategic Growth

  Resource planning was too slow to keep pace with the company's growth ambitions, preventing leadership from making fully informed, timely decisions. The real challenge extended beyond annual budgeting to the need for multi-year forward financial visibility.

Supercharged Solutions

SPRCHRGR didn’t just show up to fix their spreadsheets — we built a financial management partnership. Acting as Bruin Biometrics' fractional CFO, SPRCHRGR refreshed and strengthened Bruin Biometrics’ financial systems, delivering the data-driven clarity they needed.

• Expert Fractional CFO Leadership

  SPRCHRGR embedded Lisa Moise, a seasoned finance executive, to provide immediate leadership and mentorship. She tackled urgent gaps while elevating internal talent for long-term capability. This allowed Bruin Biometrics’ leadership and their in-house controller to focus on evaluating their supplier network, profitability, and future business direction.

• Cap Table Retooled from the Ground Up

  SPRCHRGR reviewed and reconfirmed the cap table from its inception 15 years prior, ensuring end-to-end accuracy, providing clarity on anti-dilution provisions, and restoring investor satisfaction in responding to ownership queries. 
  

• Futureproof Software Implementation

  SPRCHRGR implemented Carta to integrate and automate equity management, but to make this futureproof, Lisa reconciled everything to the original source documents, membership subscription agreements, dilution calculations, and dollars to the cap table. Her expertise and detailed analysis helped leadership assign units to the equivalent percentage to maintain the cap table effectively in the future. 

• Five-Year Financial Clarity via Dual-Purpose Forecast and Budget

  Its leaders gained critical financial clarity through a five-year forecast model that streamlined budgeting. They implemented department-level templates and scenario analysis capabilities that allowed leadership to evaluate multiple strategic pathways while maintaining alignment across the organization. 

• Financial Models Providing 360° Visibility to Explore Strategic Pivot Options

  Bruin Biometrics’ leadership team wanted to explore a bold shift from pure hardware sales to a subscription-based SaaS model but lacked the financial scenario planning tools to see several steps ahead.  SPRCHRGR’s accounting and finance engineers delivered dynamic, strategic forecasts that gave Bruin Biometrics instant insight into current performance, cash runway, and the financial viability of their SaaS pivot.

Transformation Outcome

SPRCHRGR didn't just restore Bruin Biometrics' financial foundation; we transformed their operations into a data-driven powerhouse, positioning them for accelerated growth.

“The safest pair of finance and accounting hands is how I think about the SPRCHRGR team. They slotted into our business readily and without fanfare. They just rolled up their sleeves, brought calm resolve, and years’ worth of finance and accounting expertise, which reassured our Board and all who interact with our financial data.” - Martin Burns, CEO of Bruin Biometrics

Through comprehensive systems design, restoration of stakeholder trust, and future-focused strategy, Bruin Biometrics emerged from the abrupt CFO departure stronger, smarter, and built to scale.

• Trust Assured

  Financial records were reconstructed with documented best practices in mind to anticipate outside scrutiny and re-open pathways for growth and capital. SPRCHRGR provided the board of directors with a renewed sense of confidence in consistent, credible, and verifiable financial management data.

• Operational Velocity Increased

  Budgeting timelines were slashed by over 50%, giving company leaders the agility to make bold, data-backed decisions faster than ever before.

• Strategic Clarity Unlocked

  Armed with real-time financial modeling, Bruin Biometrics confidently and successfully pivoted to a SaaS business model in 2024, creating new revenue streams and long-term scalability that drive increased enterprise valuation.

• Finance Talent Elevated

  SPRCHRGR helped Bruin Biometrics enhance its internal finance leadership team and support its professional growth. Lisa, through her network, introduced their team to an additional outside professional resource, which they ultimately hired. The result was a promotion of its then-controller to VP of Finance & Accounting in 2024, and a reduction to their overall reliance on external resources, including SPRCHRGR. 

“My role as fractional CFO is to protect the assets. Even if, in some cases, it means I’m working myself out of a role. I’m focused on efficiency and transparency – and what’s best for the client’s bottom line, always.” – Lisa Moise.

Built to Innovate and Lead

With SPRCHRGR as their transformation partner, Bruin Biometrics isn’t just back on track — they’re driving growth and innovation forward. In March of 2025, Bruin Biometrics was named by Fast Company as one of the World's 10 Most Innovative Companies in the medical device category.

Whether recovering from leadership gaps or preparing for a major pivot, our fractional CFOs and tech-forward team bring the clarity, tools, and velocity to help you get there faster.

Ready for our fractional CFOs and accountants to help you engineer your financial transformation that fuels strategic growth? Let’s talk!

About Bruin Biometrics

Bruin Biometrics LLC is a pioneer in modernizing healthcare with biometric sensor technology for early detection and monitoring of chronic, preventable conditions in collaboration with clinicians. Based in Los Angeles, the company is focused on the application of its SEM assessment technology for pressure injury detection and prevention, which has earned multiple global healthcare innovation awards and is in use today by health systems across a variety of care settings. For more information, visit https://sem-scanner.com or https://mypippa.com.