Subject: Fwd: Follow up items
From: "John DeLoche" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Rob Walker" <[email-masked]>, "Devon Archer" <[email-masked]>, "Neil Callahan" <[email-masked]>, "William Lee" <[email-masked]>
Date: Mon, 7 Apr 2014 06:28:23 -0700

FYI below re CALPERS potential intro for Counsyl. CALPERS was an investor
in my former fund but the folks I knew there moved on. I am trying to track
down some others. Do you guys have any contacts or inroads there?

Thanks

---------- Forwarded message ----------
From: Ramji Srinivasan <[email-masked]>
Date: Fri, Apr 4, 2014 at 1:10 PM
Subject: Re: Follow up items
To: William Lee <[email-masked]>
Cc: Michael Teng <[email-masked]>, John DeLoche <[email-masked]>

Thanks for sending this list over.

Reviewing some of the buildups in the model.

Re: #4

* we could continue to use support on Medi-Cal.
* Calpers - do you have a relationship with them as an investor?  We
spoke to the ex-UHC CEO thru Julia Feldman's intro.  Thanks for making
that connection!  He said that United listens closely to what Calpers
has to say (as a big customer).  Do you have any existing relationship
with Calpers as an investor?  We would be interested in speaking with
their team on employee benefits.  A brief email from Calpers to their
UHC contact along the lines of ("Wanted to encourage you to take a
look at covering Counsyl as in-network benefit for our members") could
go a long way.

Anne Stausboll [
http://www.calpers.ca.gov/index.jsp?bc=/about/organization/executives/anne-stausboll.xml
]
and Ann Boynton
[
http://www.calpers.ca.gov/index.jsp?bc=/about/organization/executives/ann-boynton.xml
]
are the highest level contacts that we tracked down from their website.
Ramji Srinivasan
[email-masked]
Office: 650.206.2417 | Mobile: 650.714.1635
180 Kimball Way
South San Francisco, CA 94080

On Fri, Apr 4, 2014 at 3:41 PM, William Lee <[email-masked]> wrote:
> Thank you Michael.  A financial model with adaptive planning would be
> perfect.  Please let us know if there is anything we can do to help
expedite
> the process.
> -Will
>
> On Apr 4, 2014, at 10:53 AM, Michael Teng <[email-masked]> wrote:
>
> Will do. We will be closing Q1 early next week. I will update you as soon
as
> that is completed.
>  It also makes sense to update Q4'13 given the model you sent across has a
> forecast for Q4'13.
>
> Concurrently, I am building out a financial model (in adaptive planning)
> that will capture new products and an extended time period.
>
>
>
> On Fri, Apr 4, 2014 at 9:53 AM, William Lee <[email-masked]> wrote:
>>
>> Ramji and Michael,
>>
>> To follow up on what John mentioned below, attached is our first pass of
>> the draft company model with capital infusion of Series D.  It was built
on
>> top of your company model from 10-30-2013 which you provided (also
attached
>> for your reference).  We stitched together your latest Q1 2014 into this
>> Series D company model.  The purple color is where RSTP had made
assumptions
>> and modifications to your old model.  This draft of modifications to the
>> model are all related to revenue generation.  We would also need your
>> feedback on the expense side, as well as John's points below on the
growth
>> areas.
>>
>> Given our draft model is more of a guesstimate, it would be helpful to
get
>> an updated company model from you that contains Q1 2014 numbers.  So we
can
>> start clean to build the Series D company model with answers to the
>> questions below.
>>
>> Getting the new model done early in the process is rather mission
critical
>> to this round.  Please feel free to contact John and me anytime directly.
>>
>> We look forward to working together to grow Counsyl and getting this
round
>> of financing closed efficiently.
>>
>> Best,
>> Will
>>
>>
>>
>>
>>
>>
>> William Lee, Managing Director
>> Rosemont Seneca Technology Partners (RSTP)
>> 333 Bush Street, 21st Floor
>> San Francisco, California 94104
>> Office: 415.767.1289
>> Mobile: 617.407.5958
>> www.rstp.com
>>
>> This email communication is privileged and confidential and is intended
>> only for the individuals or entities named above. Any unauthorized
>> dissemination of any of the contents of this email is strictly
prohibited.
>> If you are not the intended recipient, please do not read, copy, use or
>> disclose to others the contents of this communication. Please notify the
>> sender that you have received this e-mail in error and then delete the
>> e-mail.
>>
>>
>> On Apr 3, 2014, at 9:41 PM, John DeLoche <[email-masked]> wrote:
>>
>> Ramji,
>>
>> We are looking forward to closing quickly and efficiently.  Some items we
>> wanted to work on together and on which we would like your and your
team's
>> thoughts are the following:
>>
>> 1. Updated model detailing Counsyl growth case that is reflective of your
>> vision and plan--introducing multiple tests between now and 2016 time
frame
>> and enabling patient access. We are working on a wire frame of this now
for
>> your feedback. Specifically we will be looking for what tests are to be
>> introduced and under what reasonable time frames, pricing assumptions,
etc.
>>
>> 2. Detail on use of proceeds from this round to accelerate growth,
>> including:
>>
>> --headcount
>> --geographic expansion
>> --additional lab locations, security, etc
>> --additional management resources to help you scale from $50mm to
>> infinity.
>>
>> 3. Update on competitive landscape--any recent or anticipated movement
>> from incumbents and new entrants
>>
>> 4. What RSTP can be doing besides looking for awesome outside board
>> candidates to help accelerate growth and barriers to entry (I will be in
>> town for our lunch with MM by the way:)
>>
>> Also wanted to have a call to discuss a few other topics including
>> retention of key folks, secondary shares etc.
>>
>> Flying back from NY now and turning around in the am to go to DC with
Ping
>> and my son for his spring break--both of their first times there. Let's
>> touch base when you are ready to.
>>
>> Best,
>>
>> John
>>
>> John DeLoche
>> Co-founder and Managing Director
>> Rosemont Seneca Technology Partners
>> 333 Bush Street, 21st Floor
>> San Francisco, CA 94104
>> office: 415 767 1288
>> mobile: 415 793 7070
>>
>> This email communication is privileged and confidential and is intended
>> only for the individuals or entities named above. Any unauthorized
>> dissemination of any of the contents of this email is strictly
prohibited.
>> If you are not the intended recipient, please do not read, copy, use or
>> disclose to others the contents of this communication. Please notify the
>> sender that you have received this e-mail in error and then delete the
>> e-mail.
>>
>>
>>
>
>
>
> --
>
> Michael Teng
> VP, Finance | Counsyl
> [email-masked]
> Mobile: 650.804.2063
>