Syndosa Risk Assessment
RISK ESTIMATE
Syndosa is 37% higher risk than startups of the same stage and vertical.
Typical
Series A
Fintech
Syndosa
LOWER RISK
HIGHER RISK
RISK REDUCTION OPPORTUNITIES
7
Suggested mitigations
2
Recommended coverages
YOUR RISK ASSESSMENT IS 25% COMPLETE
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Employment terms & agreements
Reduce risks by classifying employees properly and using the right agreements.
Annual employee classification audit
Employee misclassification risk
Employing contractors can put you at risk for penalties, fees, and even criminal liability if they are improperly classified. Periodically review contractor classifications, especially if you are scaling a contractor-based team.
VOUCH RESOURCES
Article: The IRS 20-Factor Test, ExplainedWorkplace best practices
Reduce risk by setting clear expectations and implementing professional workplace processes.
Employee handbook
Arbitration clause
Payroll & benefits solution
Dedicated HR resource
No employee handbook
Your employee handbook is a powerful tool to set expectations and resolve disputes before they escalate to a claim.
VOUCH RESOURCES
RocketLawyer Employee Handbook TemplateNo arbitration clause
Arbitration is a mediated conflict resolution process that can help avoid lawsuits.
VOUCH RESOURCES
Nolo Guide to Arbitration Clauses in ContractsNo HR resource
HR is your first line of defense against employment-related claims. If you cannot make a dedicated hire, consider hiring a consultant.
VOUCH RESOURCES
TriNet: Waived Setup & Service FeesLeadership
Reduce risk by building a mature culture and providing
adequate HR resources.
Experienced management
Formal employee dismissal process
Trainings
Inexperienced management
Less experienced management teams have more employment claims. Encourage your managers to develop mentorship relationships and join management support groups.
VOUCH RESOURCES
Acquired Podcast founder Slack groupHarrison Metal startup management trainingNo formal dismissal process
Wrongful termination is a leading cause of employment claims. It's important that you and your managers work with your attorney to establish and follow a formal dismissal process for terminating underperforming employees.
VOUCH RESOURCES
5 free hours of pre-claim contract review with Nilan Johnson LewisMissing trainings
Employee training is proven to reduce the risk of employment claims and reduce liability should a claim occur.
PARTNER OFFERS
Ethena: First 14 employees free & 20% for every employee after thatCOVERAGES
ACTIVE
RECOMMENDED
Employment Practices Liability
Employment Practices Liability insurance is a type of coverage designed to protect employers from employee lawsuits alleging workplace-related wrongdoing or third-party liability from customers, clients, suppliers, etc. Learn more.
ACTIVE
RECOMMENDED
Fiduciary Liability
Protection for mistakes in the management of employee benefit plans. Fiduciary coverage helps mitigate your risk exposure by covering legal expenses in the event of a covered employee lawsuit. Learn more.
ACTIVE
RECOMMENDED
Workers Comp
Workers' Compensation Insurance can help give your employees the benefits they need if they suffer a work-related injury or illness. It is required by law and each state has its own respective workers' comp laws. Learn more.
Get limit recommendationsAbout this analysis
Vouch has scanned your public website to identify features that are correlated with increased or decreased risk. These attributes may or may not be relevant to your startup and do not affect your risk score.
Agreements
Website agreements are a legally-binding tool to establish your rights and limit your liability.
Privacy policy
Terms of service
Limitations of liability
Arbitration agreement
GDPR notice
No privacy policy
No Terms of service
No limitations of liability
No arbitration agreement
No GDPR notice
Technology
Website attributes correlated with mature startups.
SSL encryption
Website backups
No SSL encryption
No Website backups
Best practices
Transparency and security features that reduce the risk of customer disputes.
Single sign on (SSO)
Developer documentation
Changelog
Status page
Uptime SLA
No Single sign on (SSO)
No Developer documentation
No Changelog
No Status page
No Uptime SLA
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Representation & agreements
Reduce risks by retaining a top startup law firm
and using vetted agreements.
Dedicated startup legal representation
Vetted agreements
Contract management
Inadequate legal representation
Vouch has relationships with lawyers that specialize in startups and can facilitate an introduction.
REQUEST INTRO TO LAW FIRMInadequate standard agreements
Standard agreements vetted by a startup lawyer reduce the risk of disputes and claims.
VOUCH RESOURCES
5 free hours of pre-claim contract review with Nilan Johnson LewisCooly Go Legal Template LibraryClerky Startup Legal PaperworkInadequate contract management
Dispute risks increase when you lose track of agreements. At a minimum, we recommend inventorying signed contracts in a cloud storage tool and tracking all signed contracts in a spreadsheet.
Intellectual property
Evaluate IP risks and opportunities.
Intellectual property audit
Trademark investigation
Intellectual property risks
Work with your lawyer to perform an intellectual property audit to identify risks and opportunities.
REQUEST INTRO TO LAW FIRMTrademark risk
Work with your lawyer to understand trademark risks and protect your brand.
REQUEST INTRO TO LAW FIRMGovernance
Reduce risk by implementing software and process best practices related to governance and ownership.
Cap table solution
Complete board minutes/approvals
Equity dispute risk
Reduce the risk of ownership disputes by implementing a cap table solution.
VOUCH RESOURCES
Save 20% on your first year of CartaSave 25% on your year of PulleyMissing board minutes/approvals
Boards are required by statute to keep minutes of their meetings. Work with your lawyer to ensure you have complete company records.
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Compliance
Reduce risk with mandatory and voluntary compliance programs.
Relevant compliance certifications
Compliance risk
It’s important to know which frameworks and requirements apply to your business. Some frameworks are law, like HIPAA and GDPR. Other frameworks, like SOC 2 and ISO 27001, are not legally required but are frequently listed as customer requirements.
VOUCH RESOURCES
Save 25% on your first year of VantaSoftware
Reduce the risk of mistakes and security breaches in your software stack.
Payment processing solution
Open source security management
No payment solution
Choose an industry-leading payment solution to reduce risk of financial mistakes and fraud.
VOUCH RESOURCES
StripeThird-party code risks
Open source and third party code can create significant security, quality and license risks.
VOUCH RESOURCES
FOSSA Vulnerability ManagementCOVERAGES
WHAT IT COVERS
ACTIVE
RECOMMENDED
Errors & Omissions
Errors & Omissions insurance (“E&O,” also known as Professional Liability insurance) offers protection when a customer claims that your professional work caused them a financial loss. Learn more.
ACTIVE
RECOMMENDED
Cyber
Cyber insurance is designed to pay the costs associated with such lawsuits when they’re targeted at your startup, as well as the costs of helping breach victims recover. Learn more.
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Financial
Reduce risks by fixing these issues
Legitimate accounting solution
Bank dual auth
Employee expense solution
Financial crime training
Financial model
Dedicated financial manager
Risky accounting practices
Professional accounting solutions reduce your risk of making a substantial mistake and experiencing a financial claim.
VOUCH RESOURCES
Pilot BookkeepingNo dual auth
Contact your bank to setup dual authorization so that transactions over $10,000 require a second user's credentials.
No employee expense solution
Employee expense solutions and corporate cards dramatically reduce mistakes and abuse.
VOUCH RESOURCES
Brex Offer: Earn 40,000 points on sign upRamp Offer: $500 Bonus* plus a free Platform planNo financial crime training
Training is the best way to identify and stop financial crimes before they happen.
VOUCH RESOURCES
Ninjio Security TrainingNo financial model
Without a model, you cannot create operational forecasts and financial projections, which increases the risk of facing financial challenges.
VOUCH RESOURCES
Foresight Financial ModelsNo dedicated financial manager
Companies with a dedicated financial manager make fewer financial mistakes and experience fewer financial crimes. If you cannot make a dedicated hire, consider a consultant.
VOUCH RESOURCES
AbstractOps Outsourced Financial ManagementCOVERAGES
WHAT IT COVERS
ACTIVE
RECOMMENDED
Directors & Officers
Directors and Officers (D&O) insurance is designed to protect C-suite officers and board members if they’re sued over decisions they made on the startup’s behalf. Learn more.
ACTIVE
RECOMMENDED
Crime/Fidelity Bond
Crime insurance, or Commercial Crime insurance, covers things like employee theft and embezzlement, forgery, computer fraud, and funds transfer fraud. Learn more.
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