A US-based private equity firm approached us with a high-stakes acquisition target in the marketing technology space. The company presented an impressive narrative of rapid user growth and dominant market share. However, the sector was notoriously crowded, and our initial scan suggested that customer loyalty might be thinner than reported. The client needed to know if the revenue growth was sustainable or merely the result of aggressive, short-term acquisition spending that masked a leaky bucket.

We deployed a targeted commercial verification team to dismantle the user data. Rather than accepting the aggregate churn rate, we segmented the customer base by cohort and acquisition channel. This Bright View analysis revealed a critical flaw: while new users were signing up in record numbers, they were disengaging at an alarming rate after the first six months. The growth was expensive and hollow. By exposing this retention problem, we provided the substantiation the client needed to challenge the valuation. They avoided an overpriced entry into an asset that would have required massive capital to stabilise, proving that a deeper look protects the bottom line.