GTM Execution Plan — Phased Launch Strategy
CODITECT Bioscience QMS Platform
Document Version: 1.0.0 Last Updated: February 15, 2026 Planning Horizon: 36 months (March 2026 - February 2029) Current Stage: Seed ($1.09M raised, Pre-revenue)
Executive Overview
This GTM execution plan outlines a three-phase, 36-month market entry and scaling strategy for CODITECT Bioscience QMS. The plan balances aggressive growth targets with capital efficiency, leveraging a hybrid Sales-Led Enterprise motion to achieve $9.0M ARR by Month 36.
Strategic Approach
Phase 1: Lighthouse (Months 1-6) — Validate product-market fit with 3-5 design partners Phase 2: Vertical Expansion (Months 7-18) — Build repeatable sales engine to $2.7M ARR Phase 3: Scale (Months 19-36) — Multi-vertical expansion to $9.0M+ ARR with channel activation
Key Success Metrics
| Metric | Phase 1 Target | Phase 2 Target | Phase 3 Target |
|---|---|---|---|
| ARR | $360K | $2.7M | $9.0M |
| Customer Count | 3-5 | 15-20 | 40-60 |
| Team Size | 5 FTE | 12-15 FTE | 25-30 FTE |
| Monthly Burn | $85K | $195K | $415K |
| Runway | 12 months | 18 months (Series A) | 24+ months |
Capital Requirements
- Phase 1: $510K (Months 1-6, current Seed round)
- Phase 2: $2.34M (Months 7-18, Series A $3.5M)
- Phase 3: $9.96M (Months 19-36, Series B $12M)
- Total 36-Month Investment: $12.81M
Phase 1: Lighthouse (Months 1-6)
Timeline: March 2026 - August 2026 Objective: Validate product-market fit with 3-5 paying design partners Target ARR: $360K Team Size: 5 FTE Total Budget: $510K
Strategic Focus
Phase 1 establishes initial market traction through founder-led sales to 3-5 mid-sized biotech companies with acute QMS pain points. Success criteria center on validated product-market fit signals, not revenue maximization.
Primary ICP:
- Mid-sized biotechs (100-500 employees)
- Series B-D funding stage
- $25M-$150M annual revenue
- Active FDA regulatory submissions (IND, BLA, NDA)
- Legacy QMS causing operational friction
- Innovation budget allocated ($100K-$500K for process improvements)
Target Accounts (Named):
- Alnylam Pharmaceuticals (Cambridge, MA) — RNA therapeutics, 1,000+ employees, recent FDA approvals
- Moderna Therapeutics (Cambridge, MA) — mRNA platform, quality burden from COVID scale-up
- Intellia Therapeutics (Cambridge, MA) — CRISPR gene editing, pre-commercial stage
- Ultragenyx Pharmaceutical (Novato, CA) — Rare disease specialist, multiple regulatory pathways
- Arvinas (New Haven, CT) — Protein degradation, Series D, preparing commercial launch
- Vor Bio (Cambridge, MA) — Cell therapy, Series B, quality complexity from manufacturing
- Editas Medicine (Cambridge, MA) — Gene editing, public company, quality maturity gaps
- Akcea Therapeutics (Boston, MA) — Antisense oligonucleotides, active regulatory submissions
Month-by-Month Execution Plan
Month 1 (March 2026): Foundation
Milestones:
- Finalize design partner value proposition and pricing structure
- Complete target account research and outreach list (50 companies)
- Launch founder LinkedIn thought leadership campaign (3 posts/week)
- Attend BIO CEO & Investor Conference (Feb 10-13, NYC) — 15 qualified meetings
- Create 4-page design partner proposal deck
- Deploy initial outbound sequence (email + LinkedIn)
Metrics:
- 50 target accounts identified
- 15 conference meetings scheduled
- 30 cold outreach touchpoints sent
- 5 discovery calls booked
Budget: $85K
- Personnel: $65K (Founder + 1 BD/Sales + 1 CS)
- Marketing: $5K (LinkedIn ads, design assets)
- Travel: $8K (BIO CEO Conference)
- Tools/Tech: $5K (CRM setup, email automation)
- Contingency: $2K
Month 2 (April 2026): Pipeline Building
Milestones:
- Conduct 20 discovery calls with target accounts
- Deliver 8-10 product demonstrations
- Close 1st design partner agreement (target: $60K ACV with 40% discount)
- Launch "QMS AI Readiness Assessment" lead magnet (gated whitepaper)
- Publish 1st thought leadership article (LinkedIn + Medium)
- Activate warm introductions network (advisors, investors, board)
Metrics:
- 20 discovery calls completed
- 10 product demos delivered
- 1 design partner signed ($60K ACV)
- 50 whitepaper downloads
- 5 qualified opportunities in pipeline ($300K+ pipeline value)
Budget: $85K
- Personnel: $65K
- Marketing: $8K (content creation, whitepaper design, LinkedIn promotion)
- Travel: $5K (customer visits)
- Tools/Tech: $5K
- Contingency: $2K
Month 3 (May 2026): Conversion Focus
Milestones:
- Close 2nd design partner agreement (target: $72K ACV with 35% discount)
- Begin implementation of 1st customer (Week 1-4 onboarding)
- Conduct 15 discovery calls
- Deliver 10 product demonstrations
- Attend ISPE Annual Meeting (May 4-7, Boston) — 10 qualified meetings
- Refine pitch deck based on customer feedback
Metrics:
- 2 total design partners signed (cumulative $132K ARR)
- 1 customer in active onboarding
- 15 discovery calls completed
- 10 product demos delivered
- 8 qualified opportunities in pipeline ($480K+ pipeline value)
Budget: $85K
- Personnel: $65K
- Marketing: $6K (event materials, case study development)
- Travel: $8K (ISPE conference + customer visits)
- Tools/Tech: $5K
- Contingency: $1K
Month 4 (June 2026): Validation
Milestones:
- Close 3rd design partner agreement (target: $96K ACV with 30% discount)
- Complete 1st customer implementation (go-live)
- Begin implementation of 2nd customer
- Conduct 12 discovery calls
- Deliver 8 product demonstrations
- Initiate 1st customer success story documentation
- Activate customer advisory board (3 design partners)
Metrics:
- 3 total design partners signed (cumulative $228K ARR)
- 1 customer live in production
- 1 customer in active onboarding
- 12 discovery calls completed
- 8 product demos delivered
- 6 qualified opportunities in pipeline ($360K+ pipeline value)
Budget: $85K
- Personnel: $65K
- Marketing: $10K (case study production, video testimonial)
- Travel: $5K (customer visits)
- Tools/Tech: $5K
- Contingency: $0K
Month 5 (July 2026): Momentum
Milestones:
- Close 4th design partner agreement (target: $84K ACV with 35% discount)
- Complete 2nd customer implementation (go-live)
- Begin implementation of 3rd customer
- Publish 1st customer case study (anonymized or with permission)
- Conduct 10 discovery calls
- Deliver 6 product demonstrations
- Refine pricing model based on design partner feedback
Metrics:
- 4 total design partners signed (cumulative $312K ARR)
- 2 customers live in production
- 1 customer in active onboarding
- 10 discovery calls completed
- 6 product demos delivered
- Published case study available
- 4 qualified opportunities in pipeline ($240K+ pipeline value)
Budget: $85K
- Personnel: $65K
- Marketing: $8K (case study distribution, PR outreach)
- Travel: $6K (customer visits, prospect meetings)
- Tools/Tech: $5K
- Contingency: $1K
Month 6 (August 2026): Phase 1 Completion
Milestones:
- Close 5th design partner agreement (target: $72K ACV with 35% discount)
- Complete 3rd customer implementation (go-live)
- Begin implementation of 4th customer
- Conduct Phase 1 retrospective and PMF assessment
- Finalize Phase 2 hiring plan and job descriptions
- Secure 1st customer reference call/video testimonial
- Prepare Series A investor deck with traction metrics
Metrics:
- 5 total design partners signed ($384K ARR — exceeds $360K target)
- 3 customers live in production
- 2 customers in active onboarding
- 1 published case study + 1 video testimonial
- NPS score from design partners: >40
- Product usage metrics validate engagement (80%+ weekly active users)
Budget: $85K
- Personnel: $65K
- Marketing: $7K (Series A deck design, analyst relations)
- Travel: $6K
- Tools/Tech: $5K
- Contingency: $2K
Phase 1 Team Structure
Total Headcount: 5 FTE
| Role | Count | Hire Month | Salary (Annual) | Responsibilities |
|---|---|---|---|---|
| Founder/CEO | 1 | Existing | $180K | Sales leadership, customer strategy, fundraising |
| VP Sales/BD | 1 | Month 1 | $140K + 10% commission | Pipeline building, deal closure, design partner negotiations |
| Customer Success Manager | 1 | Month 1 | $95K | Onboarding, implementation, customer health, feedback loop |
| Solutions Engineer | 1 | Existing | $125K | Product demos, technical discovery, implementation support |
| Product Manager | 1 | Existing | $130K | Roadmap prioritization, design partner feedback synthesis |
Note: Engineering team (3 FTE) exists but not included in GTM budget.
Phase 1 Budget Breakdown
| Category | Monthly | 6-Month Total | % of Budget |
|---|---|---|---|
| Personnel | $65K | $390K | 76% |
| Marketing & Demand Gen | $7.3K | $44K | 9% |
| Travel & Events | $6.3K | $38K | 7% |
| Technology & Tools | $5K | $30K | 6% |
| Contingency | $1.3K | $8K | 2% |
| TOTAL | $85K | $510K | 100% |
Funding Source: Current Seed round ($1.09M raised, $510K allocated to GTM)
Phase 1 Success Criteria (Go/No-Go for Phase 2)
Must-Have (Hard Gates):
- ✅ 3+ paying design partners with signed contracts ($180K+ ARR minimum)
- ✅ 2+ customers live in production with validated usage (80%+ WAU)
- ✅ 1+ published case study or video testimonial demonstrating value
- ✅ NPS >40 from design partner cohort
- ✅ Product-market fit signals validated (customer retention >90%, expansion interest from 60%+ of cohort)
Should-Have (Advisory Gates):
- 🎯 5 design partners signed ($360K ARR target)
- 🎯 Pipeline coverage >3x for Phase 2 ($1M+ qualified pipeline)
- 🎯 Sales cycle <6 months average from first call to signature
- 🎯 Expansion revenue identified ($100K+ from existing customers in Year 2)
- 🎯 Competitive win rate >70% in head-to-head evaluations
Go Decision: Minimum 4/5 must-have criteria + 3/5 should-have criteria No-Go Triggers:
- <2 design partners signed by Month 6
- Customer churn >20% in first 90 days
- NPS <20 or negative product feedback trends
- Inability to articulate differentiated value proposition
- Sales cycle >9 months average
No-Go Contingency Plan:
- Extend Phase 1 by 3 months with reduced burn ($60K/month)
- Pivot ICP to smaller companies (50-200 employees, faster sales cycles)
- Consider freemium/PLG motion for earlier-stage biotechs
- Reduce pricing tier (Starter at $36K instead of $48K)
- Evaluate strategic partnership with QMS incumbent (Veeva, MasterControl)
Phase 2: Vertical Expansion (Months 7-18)
Timeline: September 2026 - August 2027 Objective: Build repeatable sales engine and scale to $2.7M ARR Target ARR: $2.7M (15-20 customers) Team Size: 12-15 FTE Total Budget: $2.34M Funding Event: Series A ($3.5M raise, Month 6-7)
Strategic Focus
Phase 2 transitions from founder-led sales to a scalable inside sales motion. Key priorities: hire sales team, activate content marketing engine, establish repeatable sales process, expand into adjacent verticals (medical devices, CDMOs), and achieve >30% QoQ ARR growth.
Expanded ICP:
- Primary: Biotech (same as Phase 1)
- Adjacent 1: Medical device manufacturers (Class II/III, FDA 510(k) or PMA pathways)
- Adjacent 2: CDMOs (contract development/manufacturing, client quality obligations)
- Geographic: Primarily US/Canada, initial European expansion (UK, Germany)
Target Customer Profile:
- 100-1,000 employees
- $25M-$300M revenue
- Active regulatory submissions (FDA, EMA)
- 3-10 person quality team
- Legacy QMS (paper-based, Veeva legacy, MasterControl Classic)
- Budget authority: VP Quality, Head of Regulatory Affairs, COO
Quarterly Execution Plan
Q3 2026 (Months 7-9): Team Building
Key Milestones:
- Series A close ($3.5M at $15M pre-money valuation, Month 7)
- Hire 1st Account Executive (Month 7)
- Hire 1st Sales Development Rep (Month 7)
- Hire Marketing Manager (Month 8)
- Hire 2nd Account Executive (Month 9)
- Hire Customer Success Manager #2 (Month 9)
- Launch content marketing engine (blog, SEO, gated assets)
- Activate HubSpot CRM + marketing automation
- Close 3-4 new customers ($288K-$384K new ARR)
Metrics:
- Ending ARR: $672K-$768K (cumulative with Phase 1)
- New customers: 3-4 (total 8-9 customers)
- Pipeline generated: $1.5M+
- Sales cycle: 4-6 months average
- Win rate: >60%
- Website traffic: 2,000 visitors/month
- Content pieces published: 12 (blog posts, whitepapers, case studies)
Budget: $585K (3 months)
- Personnel: $420K (8 FTE, 4 new hires mid-quarter)
- Marketing: $75K (HubSpot, content production, paid ads, SEO)
- Travel & Events: $45K (customer visits, conferences)
- Technology: $30K (CRM, sales enablement tools, data enrichment)
- Contingency: $15K
Q4 2026 (Months 10-12): Process Repeatability
Key Milestones:
- Hire Solutions Engineer #2 (Month 10)
- Hire 2nd SDR (Month 11)
- Formalize sales playbook and enablement program
- Launch ABM campaign targeting top 50 accounts
- Attend BIO-Europe (Nov 4-6, Stockholm) — 12 meetings
- Close 4-5 new customers ($384K-$480K new ARR)
- Achieve first customer expansion (upsell or cross-sell)
- Publish 2nd major case study
Metrics:
- Ending ARR: $1.056M-$1.248M (cumulative)
- New customers: 4-5 (total 12-14 customers)
- Pipeline generated: $2.5M+
- Sales cycle: 4-5 months average
- Win rate: >65%
- Website traffic: 4,000 visitors/month
- Expansion revenue: $50K+ (first upsells)
- NRR: 110%+
Budget: $585K (3 months)
- Personnel: $435K (10 FTE, 2 new hires mid-quarter)
- Marketing: $75K (ABM campaigns, SEO, content, events)
- Travel & Events: $45K (BIO-Europe, customer visits, QBRs)
- Technology: $25K
- Contingency: $5K
Q1 2027 (Months 13-15): Vertical Expansion
Key Milestones:
- Hire 3rd Account Executive (Month 13)
- Hire Partnerships/BD Manager (Month 14)
- Launch medical device vertical campaign
- Launch CDMO vertical campaign
- Activate strategic partnerships (target: 2 signed referral agreements)
- Attend SCOPE Summit (Feb, Orlando) — medical device focus
- Close 5-6 new customers ($480K-$576K new ARR)
- 20% of new customers from adjacent verticals (medical device or CDMO)
Metrics:
- Ending ARR: $1.536M-$1.824M (cumulative)
- New customers: 5-6 (total 17-20 customers)
- Pipeline generated: $3.5M+
- Sales cycle: 4 months average
- Win rate: >70%
- Website traffic: 6,000 visitors/month
- Vertical mix: 80% biotech, 15% medical device, 5% CDMO
- NRR: 115%+
Budget: $585K (3 months)
- Personnel: $450K (12 FTE, 2 new hires mid-quarter)
- Marketing: $75K (vertical campaigns, partnerships, content)
- Travel & Events: $40K (SCOPE, customer visits)
- Technology: $20K
- Contingency: $0K
Q2 2027 (Months 16-18): Efficiency & Scale
Key Milestones:
- Hire Revenue Operations Analyst (Month 16)
- Hire 4th Account Executive (Month 17)
- Hire 3rd SDR (Month 18)
- Formalize sales compensation plan with accelerators
- Launch partner channel program (2-3 active partners)
- Achieve first partner-sourced deal
- Close 6-8 new customers ($576K-$768K new ARR)
- Attend BIO International Convention (June, Boston) — 20+ meetings
Metrics:
- Ending ARR: $2.112M-$2.592M (target $2.7M with expansion)
- New customers: 6-8 (total 23-28 customers)
- Pipeline generated: $5M+
- Sales cycle: 3-4 months average
- Win rate: >75%
- Website traffic: 8,000 visitors/month
- Partner-sourced revenue: 5-10% of new ARR
- NRR: 120%+
- Sales efficiency ratio (New ARR / Sales & Marketing spend): >0.8
Budget: $585K (3 months)
- Personnel: $465K (15 FTE, 3 new hires mid-quarter)
- Marketing: $70K (demand gen, partnerships, events)
- Travel & Events: $35K (BIO, customer QBRs)
- Technology: $15K
- Contingency: $0K
Phase 2 Hiring Timeline
| Role | Hire Month | Salary (Annual) | Commission/Bonus | Total Comp |
|---|---|---|---|---|
| Account Executive #1 | Month 7 | $110K | $90K OTE | $200K |
| Sales Development Rep #1 | Month 7 | $55K | $20K OTE | $75K |
| Marketing Manager | Month 8 | $105K | $15K bonus | $120K |
| Account Executive #2 | Month 9 | $110K | $90K OTE | $200K |
| Customer Success Manager #2 | Month 9 | $95K | $15K bonus | $110K |
| Solutions Engineer #2 | Month 10 | $125K | $15K bonus | $140K |
| Sales Development Rep #2 | Month 11 | $55K | $20K OTE | $75K |
| Account Executive #3 | Month 13 | $110K | $90K OTE | $200K |
| Partnerships/BD Manager | Month 14 | $115K | $35K OTE | $150K |
| Revenue Operations Analyst | Month 16 | $85K | $10K bonus | $95K |
| Account Executive #4 | Month 17 | $110K | $90K OTE | $200K |
| Sales Development Rep #3 | Month 18 | $55K | $20K OTE | $75K |
Total Phase 2 New Hires: 12 FTE Cumulative Team Size (Month 18): 17 FTE (5 from Phase 1 + 12 new)
Phase 2 Organizational Structure (Month 18)
CEO/Founder (Sales Leadership)
│
├── VP Sales (Month 13 promotion or external hire)
│ ├── Account Executive #1
│ ├── Account Executive #2
│ ├── Account Executive #3
│ ├── Account Executive #4
│ ├── SDR #1
│ ├── SDR #2
│ └── SDR #3
│
├── Solutions Engineering (Lead: existing SE)
│ └── Solutions Engineer #2
│
├── Customer Success (Lead: existing CSM)
│ └── Customer Success Manager #2
│
├── Marketing Manager
│ └── (contractors/agencies for content, design, events)
│
├── Partnerships/BD Manager
│
└── Revenue Operations Analyst
Key Metrics per Function:
| Function | Headcount | Key Metrics |
|---|---|---|
| Sales (AEs) | 4 | $600K-$800K quota/AE, 75%+ attainment, 4-5 month sales cycle |
| SDRs | 3 | 8-10 qualified meetings/SDR/month, 40%+ conversion to opportunity |
| Solutions Engineering | 2 | 90%+ demo-to-opportunity conversion, 12-15 demos/month each |
| Customer Success | 2 | NRR 120%+, NPS >50, 15-20 customers each, <5% logo churn |
| Marketing | 1 + contractors | 8,000 visitors/month, 200 MQLs/month, 30% MQL-to-SQL conversion |
| Partnerships/BD | 1 | 3-5 active partners, 10% of pipeline partner-sourced by Month 18 |
| Revenue Ops | 1 | Pipeline accuracy 85%+, forecast error <15%, CRM hygiene >90% |
Phase 2 Budget Summary
| Category | Q3 2026 | Q4 2026 | Q1 2027 | Q2 2027 | 12-Month Total | % of Total |
|---|---|---|---|---|---|---|
| Personnel | $420K | $435K | $450K | $465K | $1.77M | 76% |
| Marketing | $75K | $75K | $75K | $70K | $295K | 13% |
| Travel & Events | $45K | $45K | $40K | $35K | $165K | 7% |
| Technology | $30K | $25K | $20K | $15K | $90K | 4% |
| Contingency | $15K | $5K | $0K | $0K | $20K | 1% |
| TOTAL | $585K | $585K | $585K | $585K | $2.34M | 100% |
Monthly Burn Rate: $195K average Funding Source: Series A ($3.5M raise, Month 7) Runway: 18 months from Series A close (covers Phase 2 + 6-month buffer for Series B)
Phase 2 Success Criteria (Go/No-Go for Phase 3)
Must-Have (Hard Gates):
- ✅ $2.0M+ ARR by Month 18 (minimum threshold)
- ✅ 15+ paying customers with recurring revenue
- ✅ NRR >110% demonstrating expansion revenue engine
- ✅ Repeatable sales process documented (playbook, enablement, onboarding)
- ✅ Pipeline coverage >3x quota ($8M+ pipeline for $2.7M ARR target)
- ✅ Sales efficiency ratio >0.6 (new ARR / S&M spend)
Should-Have (Advisory Gates):
- 🎯 $2.7M ARR achieved (base case target)
- 🎯 20+ customers across 2+ verticals (biotech + medical device or CDMO)
- 🎯 Win rate >70% in competitive evaluations
- 🎯 CAC payback <18 months blended across cohorts
- 🎯 1-2 active channel partners generating pipeline
- 🎯 NRR >120% with documented expansion playbook
Go Decision: Minimum 5/6 must-have criteria + 4/6 should-have criteria No-Go Triggers:
- ARR <$1.5M by Month 18
- Customer churn >15% annually
- Sales cycle expanding (>6 months average)
- Win rate declining (<50%)
- Pipeline coverage <2x
- Sales efficiency ratio <0.4 (unsustainable CAC)
No-Go Contingency Plan:
- Extend Phase 2 by 6 months with reduced burn ($150K/month)
- Reduce hiring plan (pause AE #4 and SDR #3)
- Focus on expansion revenue from existing customers (reduce new logo focus)
- Evaluate pricing adjustments (reduce Starter tier to $36K, or introduce freemium)
- Consider strategic acquisition offer from incumbent QMS vendor
Phase 3: Scale (Months 19-36)
Timeline: September 2027 - February 2029 Objective: Multi-vertical, multi-geography expansion to $9.0M+ ARR Target ARR: $9.0M (40-60 customers) Team Size: 25-30 FTE Total Budget: $9.96M Funding Event: Series B ($12M raise, Month 18-19)
Strategic Focus
Phase 3 activates full-scale GTM expansion: field sales team for enterprise accounts, channel partner ecosystem, international expansion (Europe), and potential PLG motion evaluation. Key focus on capital efficiency (CAC payback <18 months, sales efficiency >1.0) and market dominance within target verticals before incumbent competition intensifies.
Expanded Verticals & Geographies:
- Primary: Biotech (50% of new ARR)
- Secondary: Medical devices (25% of new ARR)
- Tertiary: CDMOs, diagnostics, specialty pharma (25% of new ARR)
- Geographies: US/Canada (70%), Europe (25%), APAC pilot (5%)
Customer Segmentation:
- SMB (100-500 employees): Inside sales, $48K-$96K ACV, 3-4 month sales cycle
- Mid-Market (500-2,000 employees): Field sales, $96K-$240K ACV, 5-6 month sales cycle
- Enterprise (2,000+ employees): Named account strategy, $240K-$500K+ ACV, 9-12 month sales cycle
Quarterly Execution Plan
Q3 2027 (Months 19-21): International & Enterprise
Key Milestones:
- Series B close ($12M at $45M pre-money valuation, Month 19)
- Hire VP Sales (Month 19, external executive hire)
- Hire 1st Field Account Executive (Month 19, enterprise focus)
- Hire International Sales Manager (Month 20, UK/EU)
- Hire Solutions Engineer #3 (Month 20)
- Hire Customer Success Manager #3 (Month 21)
- Hire Marketing Manager #2 (Demand Gen specialist, Month 21)
- Open European office (virtual/co-working, London or Berlin)
- Launch enterprise tier campaign ($240K+ ACV)
- Attend BIO-Europe (Nov, Hamburg) — 15 meetings
- Close 8-10 new customers ($768K-$960K new ARR)
Metrics:
- Ending ARR: $3.48M-$3.96M (cumulative)
- New customers: 8-10 (total 31-38 customers)
- Pipeline generated: $8M+
- Sales cycle: SMB 3mo, Mid-Market 5mo, Enterprise 9mo (blended 5mo)
- Win rate: >75%
- Customer mix: 60% SMB, 30% Mid-Market, 10% Enterprise
- Geographic mix: 75% US, 20% Europe, 5% other
- NRR: 125%+
Budget: $1.245M (3 months)
- Personnel: $930K (21 FTE, 6 new hires)
- Marketing: $180K (demand gen, international campaigns, enterprise ABM)
- Travel & Events: $90K (BIO-Europe, enterprise account visits, international travel)
- Technology: $30K (international tools, sales engagement platform)
- Contingency: $15K
Q4 2027 (Months 22-24): Channel Activation
Key Milestones:
- Hire 2nd Field AE (Month 22)
- Hire Partner Channel Manager (Month 22)
- Hire SDR #4 (Month 23)
- Hire Account Executive #5 (inside sales, Month 24)
- Launch formal partner program with tiering (Silver/Gold/Platinum)
- Sign 3-5 active channel partners (systems integrators, QMS consultants, Big 4 advisory)
- First partner-closed deal ($100K+ ACV)
- Attend PDA Annual Meeting (pharmaceutical industry, March) — 10 meetings
- Close 10-12 new customers ($960K-$1.152M new ARR)
Metrics:
- Ending ARR: $4.44M-$5.112M (cumulative)
- New customers: 10-12 (total 41-50 customers)
- Pipeline generated: $10M+
- Partner-sourced pipeline: 15% of total
- Partner-closed revenue: 5-10% of new ARR
- Win rate: >75%
- NRR: 130%+
Budget: $1.245M (3 months)
- Personnel: $960K (25 FTE, 4 new hires)
- Marketing: $165K (partner co-marketing, demand gen)
- Travel & Events: $75K (PDA, partner enablement, customer visits)
- Technology: $30K (partner portal, sales intelligence)
- Contingency: $15K
Q1 2028 (Months 25-27): Market Dominance
Key Milestones:
- Hire 3rd Field AE (Month 25)
- Hire Customer Success Manager #4 (Month 25)
- Hire Revenue Operations Manager (Month 26, promote analyst or external hire)
- Hire Account Executive #6 (Month 27)
- Hire SDR #5 (Month 27)
- Launch customer community program (user conference planning)
- Activate 2nd international market (Germany or Canada)
- First customer over $500K ACV (Enterprise Plus tier)
- Close 12-15 new customers ($1.152M-$1.44M new ARR)
Metrics:
- Ending ARR: $5.592M-$6.552M (cumulative)
- New customers: 12-15 (total 53-65 customers)
- Pipeline generated: $12M+
- Enterprise customer %: 15-20% of customer base
- Geographic mix: 65% US, 30% Europe, 5% other
- NRR: 135%+
- Sales efficiency ratio: >1.0
Budget: $1.245M (3 months)
- Personnel: $990K (28 FTE, 5 new hires)
- Marketing: $150K (customer community, international expansion)
- Travel & Events: $75K (customer visits, international)
- Technology: $30K
- Contingency: $0K
Q2 2028 (Months 28-30): Efficiency Optimization
Key Milestones:
- Hire Marketing Manager #3 (Product Marketing, Month 28)
- Hire Solutions Engineer #4 (Month 28)
- Hire SDR Manager (Month 29, manage team of 5)
- Hire Account Executive #7 (Month 30)
- Formalize sales tiers with specialized roles (SMB vs Enterprise AEs)
- Launch self-serve pricing calculator or product tour (PLG evaluation)
- Achieve 50% of new ARR from expansion + upsells (existing customers)
- Close 12-15 new customers ($1.152M-$1.44M new ARR)
Metrics:
- Ending ARR: $6.744M-$7.992M (cumulative)
- New customers: 12-15 (total 65-80 customers)
- Pipeline generated: $15M+
- Expansion ARR: 50% of total new ARR
- CAC payback: <15 months blended
- Win rate: >80%
- NRR: 140%+
Budget: $1.245M (3 months)
- Personnel: $1.02M (31 FTE, 4 new hires)
- Marketing: $135K (product marketing, PLG experiments)
- Travel & Events: $60K (user conference planning, customer QBRs)
- Technology: $30K (PLG tools, analytics)
- Contingency: $0K
Q3 2028 (Months 31-33): PLG Validation (Optional)
Key Milestones:
- Hire Product-Led Growth Manager (Month 31, if PLG validated)
- Hire Customer Success Manager #5 (Month 31)
- Hire 4th Field AE (Month 32)
- Hire Account Executive #8 (Month 33)
- Launch freemium tier or free trial (if PLG decision is GO)
- Host 1st annual customer conference (150-200 attendees)
- Partner ecosystem generating 20%+ of pipeline
- Close 15-18 new customers ($1.44M-$1.728M new ARR)
Metrics:
- Ending ARR: $8.184M-$9.72M (cumulative)
- New customers: 15-18 (total 80-98 customers)
- Pipeline generated: $18M+
- Partner-sourced revenue: 15-20% of new ARR
- PLG conversions: 5-10% of new ARR (if launched)
- NRR: 140%+
Budget: $1.245M (3 months)
- Personnel: $1.05M (35 FTE if PLG, 32 FTE if not)
- Marketing: $120K (user conference, PLG marketing)
- Travel & Events: $45K (conference hosting, reduced travel)
- Technology: $30K (PLG infrastructure)
- Contingency: $0K
Q4 2028 - Q1 2029 (Months 34-36): Series C Preparation
Key Milestones:
- Hire VP Marketing (Month 34, external executive hire)
- Hire 5th Field AE (Month 34)
- Hire SDR #6 (Month 35)
- Hire Customer Success Manager #6 (Month 36)
- Launch vertical-specific product SKUs (biotech vs medical device vs CDMO)
- Prepare Series C materials ($25M+ raise at $120M+ valuation)
- Achieve $9M+ ARR milestone
- Close 15-20 new customers ($1.44M-$1.92M new ARR)
Metrics:
- Ending ARR: $9.624M-$11.64M (target $9-10M conservative)
- New customers: 15-20 (total 95-118 customers)
- Pipeline generated: $25M+
- Logo retention: >90%
- NRR: 145%+
- Sales efficiency ratio: >1.2
- CAC payback: <12 months
Budget: $1.866M (6 months, Months 34-36)
- Personnel: $1.485M (38-40 FTE, 6 new hires across 6 months)
- Marketing: $225K (Series C positioning, vertical campaigns, brand)
- Travel & Events: $105K (investor roadshow, conferences, customer QBRs)
- Technology: $45K
- Contingency: $6K
Phase 3 Hiring Timeline
| Role | Hire Month | Salary (Annual) | Commission/Bonus | Total Comp |
|---|---|---|---|---|
| VP Sales | 19 | $180K | $120K OTE | $300K |
| Field Account Executive #1 | 19 | $130K | $130K OTE | $260K |
| International Sales Manager | 20 | $120K | $80K OTE | $200K |
| Solutions Engineer #3 | 20 | $125K | $15K bonus | $140K |
| Customer Success Manager #3 | 21 | $95K | $15K bonus | $110K |
| Marketing Manager #2 (Demand Gen) | 21 | $115K | $20K bonus | $135K |
| Field Account Executive #2 | 22 | $130K | $130K OTE | $260K |
| Partner Channel Manager | 22 | $120K | $60K OTE | $180K |
| Sales Development Rep #4 | 23 | $60K | $25K OTE | $85K |
| Account Executive #5 | 24 | $110K | $90K OTE | $200K |
| Field Account Executive #3 | 25 | $130K | $130K OTE | $260K |
| Customer Success Manager #4 | 25 | $95K | $15K bonus | $110K |
| Revenue Operations Manager | 26 | $110K | $20K bonus | $130K |
| Account Executive #6 | 27 | $110K | $90K OTE | $200K |
| Sales Development Rep #5 | 27 | $60K | $25K OTE | $85K |
| Marketing Manager #3 (Product Marketing) | 28 | $120K | $20K bonus | $140K |
| Solutions Engineer #4 | 28 | $125K | $15K bonus | $140K |
| SDR Manager | 29 | $85K | $30K OTE | $115K |
| Account Executive #7 | 30 | $110K | $90K OTE | $200K |
| Product-Led Growth Manager | 31 (optional) | $130K | $30K bonus | $160K |
| Customer Success Manager #5 | 31 | $95K | $15K bonus | $110K |
| Field Account Executive #4 | 32 | $130K | $130K OTE | $260K |
| Account Executive #8 | 33 | $110K | $90K OTE | $200K |
| VP Marketing | 34 | $170K | $80K bonus | $250K |
| Field Account Executive #5 | 34 | $130K | $130K OTE | $260K |
| Sales Development Rep #6 | 35 | $60K | $25K OTE | $85K |
| Customer Success Manager #6 | 36 | $95K | $15K bonus | $110K |
Total Phase 3 New Hires: 27 FTE Cumulative Team Size (Month 36): 44 FTE (17 from Phases 1+2 + 27 new) GTM Team Only: 40 FTE (excludes engineering, product, operations)
Phase 3 Organizational Structure (Month 36)
CEO/Founder
│
├── VP Sales
│ ├── Field Sales (Enterprise)
│ │ ├── Field AE #1 (East Coast Enterprise)
│ │ ├── Field AE #2 (West Coast Enterprise)
│ │ ├── Field AE #3 (Central Enterprise)
│ │ ├── Field AE #4 (International Enterprise)
│ │ └── Field AE #5 (Medical Device Vertical)
│ │
│ ├── Inside Sales (SMB/Mid-Market)
│ │ ├── AE #1 (Biotech SMB)
│ │ ├── AE #2 (Biotech SMB)
│ │ ├── AE #3 (Medical Device SMB)
│ │ ├── AE #4 (CDMO/Specialty Pharma)
│ │ ├── AE #5 (Mid-Market)
│ │ ├── AE #6 (Mid-Market)
│ │ ├── AE #7 (Mid-Market)
│ │ └── AE #8 (International SMB)
│ │
│ ├── Sales Development (SDR Manager)
│ │ ├── SDR #1
│ │ ├── SDR #2
│ │ ├── SDR #3
│ │ ├── SDR #4
│ │ ├── SDR #5
│ │ └── SDR #6
│ │
│ ├── International Sales Manager (UK/EU)
│ │
│ └── Partner Channel Manager
│
├── VP Marketing
│ ├── Marketing Manager #1 (Marketing Operations)
│ ├── Marketing Manager #2 (Demand Generation)
│ ├── Marketing Manager #3 (Product Marketing)
│ └── Product-Led Growth Manager (optional)
│
├── Solutions Engineering Lead
│ ├── Solutions Engineer #2
│ ├── Solutions Engineer #3
│ └── Solutions Engineer #4
│
├── Customer Success Lead
│ ├── CSM #2
│ ├── CSM #3
│ ├── CSM #4
│ ├── CSM #5
│ └── CSM #6
│
└── Revenue Operations Manager
└── Revenue Operations Analyst
Key Metrics per Function (Month 36):
| Function | Headcount | Key Metrics |
|---|---|---|
| Field Sales (Enterprise) | 5 | $1.2M quota/AE, 80%+ attainment, 9-12 month sales cycle, $250K+ ACV |
| Inside Sales (SMB/Mid-Market) | 8 | $800K quota/AE, 85%+ attainment, 3-5 month sales cycle, $80K-$180K ACV |
| SDRs | 6 | 10-12 qualified meetings/SDR/month, 50%+ conversion to opportunity |
| Solutions Engineering | 4 | 92%+ demo-to-opportunity, 15-18 demos/month each, enterprise technical win rate >85% |
| Customer Success | 6 | NRR 140%+, NPS >60, 15-18 customers each, <5% logo churn, 50%+ expansion rate |
| Marketing | 4 + agencies | 20K visitors/month, 400 MQLs/month, 35% MQL-to-SQL, $500K pipeline/month |
| Partnerships | 1 | 5-8 active partners, 20% of pipeline partner-sourced, 15% of revenue partner-closed |
| Revenue Ops | 2 | Pipeline accuracy 90%+, forecast error <10%, deal velocity tracking, 95%+ CRM hygiene |
Phase 3 Budget Summary
| Category | Months 19-21 | Months 22-24 | Months 25-27 | Months 28-30 | Months 31-33 | Months 34-36 | 18-Month Total | % of Total |
|---|---|---|---|---|---|---|---|---|
| Personnel | $930K | $960K | $990K | $1,020K | $1,050K | $1,485K | $6,435K | 65% |
| Marketing | $180K | $165K | $150K | $135K | $120K | $225K | $975K | 10% |
| Travel & Events | $90K | $75K | $75K | $60K | $45K | $105K | $450K | 5% |
| Technology | $30K | $30K | $30K | $30K | $30K | $45K | $195K | 2% |
| Contingency | $15K | $15K | $0K | $0K | $0K | $6K | $36K | <1% |
| Partner Programs | $0K | $0K | $0K | $0K | $0K | $0K | $1,870K* | 19% |
| TOTAL | $1,245K | $1,245K | $1,245K | $1,245K | $1,245K | $1,866K | $9,961K | 100% |
*Partner program costs (co-marketing funds, partner incentives, enablement) are embedded in Marketing and Technology budgets across quarters.
Monthly Burn Rate: $415K average (Months 19-33), $622K (Months 34-36) Funding Source: Series B ($12M raise, Month 19) Runway: 24+ months from Series B close (covers Phase 3 + 6-month buffer for Series C)
Phase 3 Success Criteria (Series C Readiness)
Must-Have (Hard Gates):
- ✅ $9.0M+ ARR by Month 36 (base case target)
- ✅ 40+ paying customers across 3+ verticals
- ✅ NRR >130% with documented expansion playbook
- ✅ Logo retention >90% annually
- ✅ Sales efficiency ratio >1.0 (new ARR / S&M spend)
- ✅ CAC payback <18 months blended across all segments
Should-Have (Advisory Gates):
- 🎯 $10M+ ARR achieved (optimistic case)
- 🎯 60+ customers with 15-20% enterprise mix ($240K+ ACV)
- 🎯 NRR >140% demonstrating strong expansion motion
- 🎯 Geographic diversification: 25%+ revenue from international markets
- 🎯 Partner ecosystem: 15-20% of new ARR partner-sourced
- 🎯 Competitive win rate >80% vs. incumbents (Veeva, MasterControl)
- 🎯 Expansion revenue >50% of total new ARR (land-and-expand proven)
Go Decision (Series C): Minimum 5/6 must-have criteria + 5/7 should-have criteria Series C Target: $25M raise at $120M-$150M pre-money valuation (8-10x ARR multiple)
GTM Organizational Design Evolution
Phase 1 Team (Months 1-6)
Total Headcount: 5 FTE Focus: Founder-led sales, customer validation
| Function | HC | Key Roles |
|---|---|---|
| Sales | 2 | Founder/CEO (sales lead), VP Sales/BD |
| Solutions Engineering | 1 | Solutions Engineer |
| Customer Success | 1 | CSM |
| Product | 1 | Product Manager |
Phase 2 Team (Months 7-18)
Total Headcount: 17 FTE Focus: Inside sales scale, repeatable process
| Function | HC | Key Roles |
|---|---|---|
| Sales | 8 | CEO, VP Sales/BD, 4 AEs, 3 SDRs |
| Solutions Engineering | 2 | 2 Solutions Engineers |
| Customer Success | 2 | 2 CSMs |
| Marketing | 1 | Marketing Manager |
| Partnerships | 1 | Partnerships/BD Manager |
| Revenue Operations | 1 | Revenue Ops Analyst |
| Product | 1 | Product Manager |
| Engineering | 1 | (not GTM, but supporting) |
Phase 3 Team (Months 19-36)
Total Headcount: 44 FTE (40 GTM) Focus: Field sales, channel, international, efficiency
| Function | HC | Key Roles |
|---|---|---|
| Sales | 20 | VP Sales, 5 Field AEs, 8 Inside AEs, SDR Manager, 6 SDRs |
| Solutions Engineering | 4 | SE Lead, 3 SEs |
| Customer Success | 6 | CS Lead, 5 CSMs |
| Marketing | 5 | VP Marketing, 3 Marketing Managers, PLG Manager (optional) |
| Partnerships | 2 | International Sales Manager, Partner Channel Manager |
| Revenue Operations | 2 | RevOps Manager, RevOps Analyst |
| Product | 2 | Product Managers (not in GTM budget) |
| Engineering | 3 | (not GTM) |
Budget Summary (36-Month Total)
Phase-by-Phase Investment
| Phase | Duration | Personnel | Marketing | Travel | Technology | Contingency | Total | Cumulative |
|---|---|---|---|---|---|---|---|---|
| Phase 1 | 6 months | $390K | $44K | $38K | $30K | $8K | $510K | $510K |
| Phase 2 | 12 months | $1,770K | $295K | $165K | $90K | $20K | $2,340K | $2,850K |
| Phase 3 | 18 months | $6,435K | $975K | $450K | $195K | $36K | $9,961K* | $12,811K |
*Includes $1.87M embedded partner program costs.
Functional Budget Allocation (36-Month Total)
| Function | Phase 1 | Phase 2 | Phase 3 | Total | % of Total |
|---|---|---|---|---|---|
| Personnel (Salaries + Benefits) | $390K | $1,770K | $6,435K | $8,595K | 67% |
| Marketing & Demand Gen | $44K | $295K | $975K | $1,314K | 10% |
| Travel & Events | $38K | $165K | $450K | $653K | 5% |
| Technology & Tools | $30K | $90K | $195K | $315K | 2% |
| Partner Programs | $0K | $0K | $1,870K | $1,870K | 15% |
| Contingency | $8K | $20K | $36K | $64K | <1% |
| TOTAL | $510K | $2,340K | $9,961K | $12,811K | 100% |
Cash Burn Analysis
| Period | Monthly Burn | Quarterly Burn | Cumulative Burn | Funding Event | Cash Balance |
|---|---|---|---|---|---|
| Months 1-6 (Phase 1) | $85K | $255K | $510K | Seed ($1.09M) | $580K |
| Month 7 | $195K | — | $705K | Series A ($3.5M) | $3,375K |
| Months 8-18 (Phase 2) | $195K | $585K | $2,850K | — | $1,230K |
| Month 19 | $415K | — | $3,265K | Series B ($12M) | $11,965K |
| Months 20-36 (Phase 3) | $415K avg | $1,245K | $12,811K | — | $2,154K |
Fundraising Trigger Points:
- Series A trigger: Month 5-6 (close Month 7) when Phase 1 ARR >$300K and PMF validated
- Series B trigger: Month 17-18 (close Month 19) when ARR >$2M and sales process repeatable
- Series C trigger: Month 35-36 (close Month 37-39) when ARR >$9M and NRR >135%
Runway Buffer:
- End of Phase 1: 6.8 months until Series A needed
- End of Phase 2: 6.3 months until Series B needed
- End of Phase 3: 5.2 months until Series C needed (comfortable for 6-month raise process)
Risk Assessment & Contingency Planning
Phase 1 Risks
| Risk | Probability | Impact | Mitigation | Contingency |
|---|---|---|---|---|
| Longer sales cycles (>9 months) | Medium | High | Focus on smaller biotechs (Series B), offer pilot programs, increase design partner discounts | Extend Phase 1 by 3 months, reduce burn to $60K/month |
| Low conversion rate (<30%) | Medium | High | Improve value prop messaging, add customer proof points, refine ICP | Pivot to smaller companies, consider freemium |
| Competitive response (Veeva announces AI) | Low | Medium | Emphasize differentiation (autonomous agents vs. copilots), accelerate feature development | Partner with Veeva as integration vs. compete directly |
| Customer churn in first 90 days | Low | High | Enhanced onboarding, dedicated CSM, weekly check-ins | Refund guarantees, co-development agreements |
Phase 2 Risks
| Risk | Probability | Impact | Mitigation | Contingency |
|---|---|---|---|---|
| Failed AE hires (ramp <6 months) | Medium | Medium | Rigorous sales hiring process, structured onboarding, quota relief in first 3 months | Extend existing AE quotas, delay additional hiring |
| Marketing channel inefficiency | Medium | Medium | Test multiple channels (content, paid ads, events, ABM), measure CAC by channel | Double down on highest-performing channel, cut underperformers |
| Pricing resistance (ASP decline) | Low | Medium | Value-based selling training, enterprise case studies, ROI calculators | Introduce lower-priced Starter tier at $36K |
| Series A fundraising delay | Low | High | Start process 3 months early (Month 4), multiple term sheets, bridge financing option | Cut burn to $120K/month, delay hires 1-2 quarters |
Phase 3 Risks
| Risk | Probability | Impact | Mitigation | Contingency |
|---|---|---|---|---|
| Enterprise sales complexity (>12mo cycles) | Medium | Medium | Dedicated field AEs, executive champions program, proof-of-concept pilots | Focus on mid-market ($96K-$240K ACV), reduce enterprise focus |
| International expansion challenges | Medium | Medium | Hire local sales talent, partner with regional system integrators, regulatory compliance support | Delay international expansion, focus on US growth |
| Channel conflict (partners vs. direct sales) | Medium | Low | Clear rules of engagement, deal registration system, partner-only verticals (e.g., diagnostics) | Reduce partner incentives, increase direct sales capacity |
| Incumbent competition intensifies | High | High | Accelerate product innovation, lock in multi-year contracts, build switching costs via data/integrations | Strategic acquisition discussions, defensive partnerships |
| NRR decline (<120%) | Low | High | Proactive CSM engagement, expansion playbook, usage analytics, customer health scoring | Increase CSM capacity, price adjustments, feature bundling |
Capital Efficiency Metrics & Burn Rate Sensitivity
Target Efficiency Metrics:
- Sales Efficiency Ratio: >1.0 by Phase 3 (new ARR / S&M spend)
- CAC Payback Period: <18 months blended, <12 months SMB, <24 months enterprise
- LTV:CAC Ratio: >3.0x blended
- Magic Number: >0.75 by Phase 2 end (quarterly net new ARR / prior quarter S&M spend)
Burn Rate Sensitivity Analysis:
| Scenario | Monthly Burn | ARR Target Impact | Mitigation |
|---|---|---|---|
| Base Case | $85K (P1), $195K (P2), $415K (P3) | $9M by Month 36 | Current plan |
| Optimistic (20% lower burn) | $68K, $156K, $332K | $11M by Month 36 (invest savings in growth) | Offshore roles, agency vs. FTE, remote-first |
| Pessimistic (30% higher burn) | $111K, $254K, $540K | $6M by Month 36 (cash constrained) | Delay Phase 3, reduce headcount, extend Series B |
Pivot Triggers (Requiring Board Approval):
- Phase 1 ARR <$200K by Month 6 → Extend Phase 1 or pivot ICP
- Phase 2 ARR <$1.5M by Month 18 → Delay Series B, reduce burn 30%
- NRR <100% for 2 consecutive quarters → Increase CS investment, pause new sales
- Win rate <40% for 2 consecutive quarters → Reassess product-market fit, pricing, or ICP
- Runway <9 months at any point → Bridge financing or strategic acquisition discussions
Timeline Visualization (Mermaid Gantt Chart)
Appendix: Key Assumptions
Revenue Assumptions
- Average Contract Value (ACV):
- Phase 1 Design Partners: $60K-$96K (30-40% discount from $96K-$144K standard)
- Phase 2 Customers: $96K-$180K blended (mix of Starter, Professional)
- Phase 3 Customers: $150K-$280K blended (increasing enterprise mix)
- Customer Churn: 5-8% logo churn annually, <3% in Phase 1 design partners
- Net Revenue Retention (NRR):
- Phase 1: 105-110% (limited expansion in year 1)
- Phase 2: 115-120% (upsells + cross-sells emerging)
- Phase 3: 125-145% (mature expansion playbook)
- Sales Cycle:
- SMB (100-500 employees): 3-4 months
- Mid-Market (500-2,000 employees): 5-6 months
- Enterprise (2,000+ employees): 9-12 months
- Win Rate: 60% (Phase 1), 70% (Phase 2), 75-80% (Phase 3)
Cost Assumptions
- Fully Loaded Personnel Costs: Salary + 30% benefits + equity (4-year vest, 1-year cliff)
- Sales Commission: Paid on cash collected (not bookings), 50% at signature + 50% at go-live
- Marketing CAC: $15K-$25K per customer (blended across channels)
- Technology Stack:
- CRM: HubSpot Sales Hub ($5K/month for 15 seats)
- Marketing Automation: HubSpot Marketing Hub ($3K/month)
- Sales Engagement: Outreach.io ($2K/month)
- Data Enrichment: ZoomInfo ($1.5K/month)
- Analytics: Segment + Amplitude ($1K/month)
Market Assumptions
- TAM: $4.35B (global QMS software for life sciences)
- SAM: $412M (AI-powered QMS for biotech/pharma/medical devices in US/EU)
- Competitive Window: 18-24 months before incumbents release AI-native products
- Market Growth: 12-15% CAGR through 2030 (driven by AI adoption, regulatory complexity)
Document Control
Version History:
| Version | Date | Author | Changes |
|---|---|---|---|
| 1.0.0 | 2026-02-15 | Claude (Opus 4.6) | Initial creation with 36-month phased plan |
Approval:
| Role | Name | Signature | Date |
|---|---|---|---|
| CEO/Founder | Hal Casteel | ________________ | ________ |
| Board of Directors | [TBD] | ________________ | ________ |
Next Review Date: 2026-05-01 (Post-Phase 1 Retrospective)
End of Document