Recently appointed as the Chief Financial Officer of Prenuvo, a healthcare technology company specializing in full-body scanning, Jill Woodworth has outlined her priorities. She emphasizes understanding the existing financial operations and enhancing strategic finance capabilities to support the firm's expansion. Drawing on her extensive experience, including roles at Peloton Interactive and Alation, Woodworth aims to build a robust FP&A team, manage costs effectively, and explore capitalization strategies. With a strong Series B funding round and steady demand growth, Prenuvo is poised for significant development under her leadership.
Prenuvo's CFO Focuses on Scaling and Strategic Finance
In the vibrant world of healthcare innovation, Redwood City-based Prenuvo stands out with its cutting-edge full-body scanning technology supported by artificial intelligence. Since joining in May, Jill Woodworth, the new CFO, has been immersing herself in the business dynamics to ensure financial operations align seamlessly with corporate objectives. Her vision encompasses strengthening the strategic finance division by recruiting skilled professionals in financial planning and analysis (FP&A). These experts will aid crucial decision-making processes regarding product development and clinic expansions.
Woodworth brings a wealth of experience from her tenure at Peloton Interactive, where she played a pivotal role during its rapid growth phase. She observes parallels between Peloton’s early days and Prenuvo’s current trajectory. Both companies offer innovative products with nascent brand recognition but exhibit promising growth patterns. Notably, Prenuvo’s "Advanced Scan" service already constitutes 25% of its business, reflecting increasing consumer demand.
A critical aspect of Woodworth's strategy involves managing costs prudently while scaling operations. Recalling Peloton's response to heightened demand during the pandemic, she advocates for smart scaling of fixed costs and strategic partnerships to maintain flexibility in cost structures. Furthermore, she contemplates optimal capital deployment, whether through expanding the clinic network, investing in technology to reduce scan costs, or enhancing marketing efforts to boost brand awareness.
With $120 million secured in Series B funding, Prenuvo enjoys a solid financial foundation. Woodworth appreciates CEO Andrew Lacy's focus on achieving break-even profitability since inception, which grants her the freedom to reassess capital structure amidst macroeconomic uncertainties.
As a seasoned finance leader, Woodworth recognizes the importance of balancing over-capitalization with prudent investment. Her insights into Prenuvo’s potential growth avenues underscore her commitment to driving sustainable success.
Jill Woodworth's appointment signifies a pivotal moment for Prenuvo. Her strategic emphasis on building a robust FP&A function highlights the significance of data-driven decision-making in modern businesses. For aspiring CFOs and entrepreneurs, her approach exemplifies the value of leveraging past experiences to address current challenges creatively. In today’s competitive landscape, having a finance team that not only tracks performance metrics but also actively contributes to strategic planning can make all the difference. Woodworth's leadership at Prenuvo serves as an inspiring case study in navigating growth phases while maintaining fiscal discipline.