From Lean Startup to a $466M Exit

CFO Arik Hybloom

How Profitian Partnered with BELKIN Vision Through Rapid Growth and its Acquisition by Alcon

The Client: BELKIN Vision

BELKIN Vision began as an innovative ophthalmic startup, developing an automated, non-contact laser device for accessible, first-line glaucoma treatment. When the partnership with Profitian first launched, the company consisted of only 15 employees, a stage at which establishing a full-scale, in-house finance department was not yet financially viable .

The Challenge: Complex Financial Management Amidst Rapid Scaling

As Arik assumed the role of CFO at BELKIN, the company entered a phase of accelerated growth, introducing several critical challenges:

  • Diverse Investor Base & Reporting Requirements: Investors across multiple jurisdictions required accurate, timely financial reporting under varying standards and formats.

  • Manual Processes: Reliance on spreadsheets limited visibility, slowed decision-making, and delayed month-end closings.

  • The Need for Strategic Focus: The CFO needed to be freed from daily operational finance tasks such as invoicing, payments, and reconciliations to focus on strategy, fundraising, and scaling the business.

The Profitian Solution: A Comprehensive Fractional CFO & Finance Suite

Profitian stepped in as the operational and advisory arm for the CFO, providing high-tier support across the board:

  1. Automation & Digital Transformation: Migrated finance operations from manual Excel workflows to a structured, automated environment using “Dokka”, significantly improving controls and accelerating month-end close.

  2. Financial Consolidation: Built a unified financial reporting framework that consolidated complex data into a single, transparent, and reliable source for management and investors.

  3. Rigorous Cash Flow Management: Implemented disciplined monthly Budget vs. Actual analysis and proactive cash-flow monitoring. Profitian assumed responsibility for this time-intensive function, ensuring constant liquidity visibility and control.

  4. Business Continuity: Unlike in-house finance teams where turnover can disrupt operations. Profitian ensured uninterrupted service through a dedicated, always-available team.

The Turning Point: The Alcon Acquisition (July 2024)

In July 2024, BELKIN Vision was acquired by the global ophthalmic medical device giant Alcon for $466 million. During the high-stakes Due Diligence and merger phases, Profitian proved to be a decisive asset:

  • Total Transparency for the Acquirer: Profitian assisted the company in providing meticulously organized financial data.

  • Professional Synergy: Worked seamlessly with external auditors, legal advisors, and transaction teams to support the acquisition process.

  • Post-Merger Integration (PMI): Following the acquisition, Profitian continued to support the company for six months, successfully integrating BELKIN’s financial systems into Alcon’s global infrastructure.

The Value Add: "Far Beyond Traditional Accounting"

Arik, CFO of BELKIN Vision, reflects on the partnership:

“This isn’t just an accounting service; it’s a complete financial support envelope. They took responsibility for the mundane financial operational side, allowing me to focus on driving the company forward.”

Why it Worked:

  • Cost Efficiency: Maintaining an equivalent in-house finance team would have incurred significantly higher overhead costs.

  • Risk Mitigation & Vigilance: Profitian’s proactive approach from VAT optimization to smart capital allocation prevented financial bottlenecks before they could arise.

  • Operational Relief: Profitian’s contribution reduced the CFO’s daily operational workload by an estimated 70%.

The Bottom Line:

Profitian’s professionalism and rigorous organizational standards ensured that BELKIN Vision reached the acquisition stage with “bulletproof” financials. This provided the leadership team with peace of mind and confidence for the acquirer towards deal closure.