Independent technical & scientific diligence
Independent technical and scientific diligence for investors evaluating complex technology.
We help investment teams determine whether a company's technology, science, engineering organization, and infrastructure can support the investment thesis behind the deal.
Pitch decks describe what a product is expected to do. Management teams explain why the technology is differentiated. Financial models assume the product will scale.
We independently examine whether the underlying technology, engineering, science, organization, and infrastructure support those assumptions.
Our job is not to prove or disprove a founder's story. Our job is to determine what an investor is actually underwriting.
The diligence gap
Financial diligence can verify historical performance. Legal diligence can identify contractual and regulatory exposure. Commercial diligence can test markets and customers. But technically complex businesses introduce another class of investment risk.
Those questions require independent technical and scientific judgment.
Signal & Noise brings that judgment directly into the underwriting process.
What we underwrite
Software, AI, connected hardware, measurement science and the organizations that build them. Scope is set by the investment thesis, not by a standard checklist.
Scientific and health-technology assessments are performed as independent investment diligence. They do not constitute medical advice, clinical validation, laboratory testing, or regulatory certification. Where an engagement requires credentialed clinical, regulatory or laboratory expertise, appropriately qualified specialists are retained and identified in the scope.
The core question
The diligence sprint
Traditional technical assessments can take weeks and place a significant burden on management. Signal & Noise uses a highly structured process designed around investment timelines.
Repository, technical documentation, systems, scientific evidence, infrastructure and relevant diligence materials.
Examine the technical or scientific assumptions that materially support the investment thesis.
Technical leadership, engineering organization, domain expertise and execution risk.
Scalability, infrastructure economics, security, dependencies, technical debt and capital requirements.
Synthesis, material-risk classification, cost-to-fix analysis and investment-team readout.
Typical rapid diligence: approximately five business days
Engagements are designed for rapid execution with read-only access wherever practical and tightly bounded management involvement. Specialized or scientifically complex assignments are scoped accordingly.
What investors receive
Platform supports 10× user growth without re-architecture
A concise assessment of whether the evidence supports the technical and scientific assumptions underlying the investment thesis. The investment decision remains with the investment team.
Each material assumption is classified against the evidence.
Findings capable of affecting:
Material technical deficiencies translated into estimated:
Findings that may warrant:
Senior-led executive presentation and Q&A focused on the findings that matter to the transaction.
Deal-implication findings are technical observations for the investment team and its advisors. They are not legal advice.
What makes this different
The professionals interviewing management and evaluating the evidence are experienced technical and domain operators—not a junior-heavy consulting pyramid.
Complex companies increasingly cross boundaries between software, AI, hardware, data, biology, sensors and scientific measurement. Our diligence model is built accordingly.
A technical issue is more useful when an investor understands what it may cost to correct. Material findings are translated into capital, time and execution implications wherever reasonably possible.
The output is written for investment professionals. The objective is not hundreds of pages of technical observations—it is identifying the evidence that could materially change the investment decision.
Who we serve
Also available to corporate venture groups, investment committees and select lenders or institutional capital providers.
Seed through growth investors underwriting technically sophisticated companies.
Investors evaluating scalability, organizational maturity, technical economics and execution risk.
Technology evaluation for acquisitions, platform investments and technical transformation requirements.
Independent assessment of technical assets, integration risks and required investment.
Senior technical expertise for investors without dedicated internal technical diligence teams.
Engagement models
Every transaction is different. Scope is shaped in conversation, around what matters most to the decision in front of you.
An early read on whether the technology warrants a closer look.
Starting at $20K
Technical diligence oriented around the investment thesis.
Starting at $50K
Deeper technical or scientific review where the domain demands it.
Custom scope
Ongoing arrangements are available for active investment firms. Let's talk about what would be useful.
Practitioners
Our diligence teams are led by experienced technology executives, entrepreneurs, engineers and domain specialists who understand both how sophisticated products are built and how technical decisions affect enterprise value.
Managing Partner
Technology executive, entrepreneur, systems architect and AI advisor with experience building and scaling technology businesses, enterprise platforms and technically complex products.
Managing Partner
Experienced operator and domain expert across wearable technology, biotech, physiological measurement, sensors, digital health and technically complex products.
Certain investments require highly specialized expertise. When appropriate, Signal & Noise can supplement the core diligence team with vetted subject-matter experts suited to the technology being evaluated, identified to the client in the engagement scope.
Independence
Our role is not to advocate for the transaction or oppose it. We examine the evidence, identify material uncertainty, quantify exposure where possible, and give the investment team an independent technical perspective.
Our obligation is to the evidence.
Request a diligence review
Bring independent technical and scientific judgment into the investment process without turning diligence into a months-long exercise.
Prefer to talk first?
Discuss a transaction