Sell-side M&A and strategic advisory for VC-backed SaaS companies.
We work with SaaS companies between $2M and $20M ARR. Whether you're profitable and ready to sell, weighing a sale against another round, or working through a reset, we run a disciplined process from first conversation to close.
20-minute conversation. No pitch, just perspective.
When the next round isn't the plan, you need a new one.
For some companies, the best next step is a sale while growth and profitability are strong. For others, it's a recapitalization or a reset. Either way, the companies that act early, with a real process, get the best outcomes.
M&A and strategic advisory for SaaS companies.
We don't give opinions from the sidelines. We assess the situation, get board alignment, and execute the outcome.
Strategic Options Review
A two-week, independent review of your business, capital structure and options, from a sale to a raise to a reset, ending in a board-ready recommendation.
Fractional CFO for SaaS Companies in Transition
Embedded financial leadership through a sale, an acquisition, a merger integration or a period of change.
Book a call to discuss →Restructuring & Recapitalization
Operational restructuring, cap table cleanup, and recapitalization strategy for companies that have a viable path forward but need significant structural changes to unlock it.
Orderly Wind-Down
When closure is the right answer, we manage it with care and precision, coordinating with outside counsel and ABC providers where needed.
Built for founders and boards deciding what comes next.
For Founders & CEOs
You raised capital and built something real. But growth stalled, the market shifted, and now you're fielding hard questions from your board without a clear plan.
You don't need another advisor who tells you what you already know. You need someone who will get in the trenches, help you see your options honestly, and do the work alongside you — through a process your board can approve and stand behind.
- ✓VC-backed SaaS company between $2M and $20M ARR
- ✓Growing and profitable, and ready for a sale on your timeline
- ✓Strategic interest you want to turn into competing offers
- ✓Weighing a sale against raising another round
- ✓Growth has stalled and the board wants a clear plan
For Investors & Boards
You have portfolio companies that aren't the winners and aren't yet written off. They carry real fiduciary risk, consume partner time disproportionate to their fund position, and lack a clear path to resolution.
Haven Commerce takes ownership of the process. We run the diagnostic, present the options with real numbers attached, get formal board approval, and execute. The result is a documented, defensible process that reduces drift, protects fiduciaries, and frees you to focus on the portfolio companies that are working.
- ✓A portfolio company ready for an exit, but below the deal size banks prioritize
- ✓Need a structured process with clear accountability, one you don't have bandwidth to run yourself
- ✓Want the process documented and defensible for LPs and future scrutiny
- ✓Board meetings that produce discussion but no decisions
- ✓A company that needs a reset or an orderly resolution
How an engagement runs.
Every engagement runs on a formal board-approved mandate with direct access to financials, legal documents, and stakeholders. Haven coordinates specialists — legal counsel, restructuring trustees, investment banks — rather than replacing them. Every phase produces written deliverables designed to withstand LP and creditor scrutiny.
Readiness
A readiness assessment, clean-up of the numbers buyers will test, a data room and the equity story.
Positioning and materials
Teaser, management presentation, financial model and a tiered buyer map.
Market process
Fireside chats with strategic buyers, structured outreach, management meetings and one IOI deadline for everyone.
LOI to close
Negotiate terms with the strongest buyer, manage diligence, and close with a clean transition.
A decision and a plan within 30 days.
Rapid Diagnostic
Weeks 1–2We get full access to financials, legal documents, systems, and operations. No filtered reporting — direct access to the actual numbers. Within two weeks, we deliver a Situation Report with a clear-eyed assessment of solvency, liabilities, and asset value, including the exact date cash runs out.
Decision
Weeks 3–4We evaluate three paths using a probability-weighted expected value model that removes emotion from the decision. All three paths get equal analytical rigor. We make a specific recommendation and get formal board approval before any execution begins.
We present the analysis for all three paths, make a specific recommendation, and get explicit board approval via a formal Board Resolution before proceeding to execution.
Execution
Month 2+We switch from diagnostic to operator and run the chosen path. If it's a sale, we build the CIM, run buyer outreach, negotiate the LOI, and manage diligence. If it's a wind-down, we manage every step of the process. If it's a restructuring, we implement the plan. We coordinate legal, financial, and operational workstreams and stay until it's done.
Close and Transition
At completionClean closure. A defined end point — not a trailing consulting relationship. The engagement closes with full financial reconciliation, liability confirmation, and LP-ready summary materials.
Want to start smaller? Our diagnostic-only engagement delivers the Situation Report and Runway and Cash Forecast as a standalone deliverable. You decide what comes next. There is no commitment to proceed.
Book a Diagnostic Call →Representative engagements.
Haven Commerce has worked across restructuring, sell-side M&A, corporate development, and embedded finance leadership. These representative situations reflect the range of that work.
Full Sell-Side Process
Sell-side advisory for a VC-backed SaaS company seeking a strategic exit.
Ran a full sell-side process with 70+ strategic buyers engaged. Managed outreach, buyer qualification, LOI negotiation, and diligence through close.
Buy-Side Carve-Out: Commerce SaaS Platform
A commerce software company acquiring a SaaS platform carved out of a large commerce services company.
Led valuation, negotiation and deal structure, including deferred consideration and a transition services agreement funded by the acquired platform's own customer cash flows. Managed diligence and the post-close transition.
Closed on a structure that limited the buyer's upfront cash.
Buyside Support: Roll-Up Strategy
Buyside corporate development support for a strategic acquirer executing a SaaS roll-up.
Provided target identification, financial modeling, diligence coordination, and deal structuring support across multiple acquisition targets.
Fractional CFO: Late-Stage SaaS
Embedded financial leadership engagement at a $20M+ ARR SaaS company navigating a period of operational and strategic transition.
Served as fractional CFO: board reporting, cash management, strategic decision support, and financial infrastructure during transition.
Fractional CFO: Post-Merger Integration
Embedded CFO for a commerce software company through a merger and the integration that followed.
Completed purchase accounting and led the finance integration: combined reporting, cash planning and board materials.
A single finance function and reporting cadence for the combined company.
Market Check & Orderly Resolution
VC-backed SaaS company with approximately 6 months of runway and no viable path to raise.
Ran a full market check across 50+ strategic buyers. Sold company assets. Completed resolution through a partner trustee in an Assignment for the Benefit of Creditors.
The advisory gap for <$20M ARR SaaS companies.
Most advisory options don't fit companies at your stage. Here's how we're different.
Founder, operator, dealmaker.
Haven Commerce was founded by Erik Morton. Erik spent over two decades inside the ecommerce software industry — first as a software developer, then as a founder, and ultimately as a senior executive running corporate development and strategy at Rithum (f/k/a CommerceHub), a major ecommerce SaaS platform. At CommerceHub, Erik was a member of the executive committee and led the company's M&A program for nearly a decade, including sourcing and closing acquisitions, managing complex divestitures, and serving on the deal team for the company's $1.1 billion sale to GTCR and Sycamore Partners. Earlier, he founded Initiate Commerce, a SaaS company he built from scratch and ultimately sold to CommerceHub.
That background — building software, running a company, and executing transactions from the inside — is what makes Haven Commerce different. Erik evaluates technology assets the way a developer would, financial structures the way a CFO would, and deal dynamics the way someone who's sat on both sides of the table would. When you engage Haven Commerce, you work directly with Erik. No junior analysts, no delegation to a team you never met. One experienced operator who has done this work at every level. Having sat on the buyer's side of the table, Erik builds every sale process around what a buyer's corporate development team needs to say yes.
Guides for founders and boards weighing their options.
Long-form frameworks for founders, GPs and boards deciding what comes next for companies with real revenue.
Specialists we work with on engagements.
Haven Commerce coordinates with a select group of firms whose expertise directly supports the outcomes we execute for clients.
Not sure what comes next? Let's figure it out together.
Book a 20-minute conversation. We'll talk through your situation honestly and whether Haven Commerce is the right fit. No pitch, no pressure — just a clear-eyed look at your options.
Prefer email? Reach out at info@havencommercellc.com