How FirmRoom Streamlined the Fundraising Process for a Spin-Out from the National Physical Laboratory (NPL)

FirmRoom is a secure, user-friendly virtual data room designed to simplify and streamline the management of sensitive documents for fundraising, M&A, and corporate development activities. In this case study, discover how FirmRoom helped Thermology Health, a pioneering spin-out from the UK’s National Physical Laboratory (NPL), overcome fundraising challenges with ease and efficiency.

Company Overview

Thermology Health is a spin-out from the National Physical Laboratory (NPL) in the UK. NPL operates similarly to the National Institute of Standards and Technology (NIST) in the United States, delivering cutting-edge measurement science to ensure the timely and successful deployment of new technologies. Thermology Health uses high-accuracy thermal imaging to create medically precise temperature data. Despite being a small, dynamic team of 1–10 employees and at a pre-revenue stage, Thermology Health is making strides under the leadership of CEO Yuval Yashiv, based in London. Yuval also advises boutique investment banks.

Use Case: Fundraising

Thermology Health’s primary use of FirmRoom was for fundraising, specifically during their seed round. As investors required a secure data room to access key documents, FirmRoom became the ideal solution.

Challenges Before FirmRoom

Before adopting FirmRoom, Thermology Health struggled with other platforms like SharePoint, which lacked the user-friendliness and reporting features essential for their fundraising efforts. Setting up permissions and tracking activity was unclear and time-consuming, hindering the capital-raising process.

Why FirmRoom?

Thermology Health needed a solution that was intuitive, secure, and cost-effective. After evaluating various options and conducting a trial, FirmRoom stood out as the perfect fit.

3 Primary Factors Influencing Yuval's Decision:

• Ease of Use: FirmRoom’s intuitive design eliminated the need for complex configurations, allowing the team to get up and running quickly.
• Security: Yuval personally tested the platform's security by logging in as other users, reinforcing his confidence in FirmRoom’s ability to protect sensitive information.
• Price-to-Value: With competitive pricing tailored for smaller-scale use cases, FirmRoom provided excellent value without unnecessary overhead.

Key Benefits of FirmRoom

• Visibility: FirmRoom’s tracking capabilities allowed Thermology Health to monitor who accessed the data room, which documents they viewed, and for how long—helping foster transparency and manage investor relations.
• Permissions Control: Robust permission settings ensured that only authorized individuals could access sensitive information, enhancing security and compliance.
• Cost-Effectiveness: FirmRoom offered a compelling price-to-value ratio, making it ideal for pre-revenue businesses.
• User-Friendly Design: The platform's simplicity saved time and effort, allowing Thermology Health to focus on their fundraising efforts instead of troubleshooting complex software.

Conclusion

FirmRoom has been instrumental in supporting Thermology Health’s fundraising journey. Its combination of affordability, advanced security features, and user-friendly design enabled the team to manage their documentation needs effectively and efficiently.

For corporate development leaders and M&A professionals, FirmRoom offers a reliable, cost-effective solution for managing sensitive documents and streamlining processes.

Start your 14-day free trial today and experience how FirmRoom can transform your fundraising and M&A activities.

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