Therapy iQ achieves 95% deal close rate and accelerates renewals with Gynger

Therapy iQ, a behavioral health technology platform, experienced explosive early demand for their all-in-one practice management software but faced difficulty maintaining a rapid growth trajectory without sacrificing customers, ownership, or cash flow stability. Despite strong product-market fit and a waitlist stretching months long, the company struggled to reconcile their need for annual upfront payments with their customers' preferences for monthly billing, a tension that threatened to slow go-to-market momentum and disrupt cash flow predictability.

Once co-founder Nate Maingi onboarded Gynger, Therapy iQ was immediately able to offer flexible monthly payment options to their customers while still receiving full annual contract value upfront, unlocking total cash flow control and eliminating GTM friction that had been hindering deal velocity. As a result, Therapy iQ was able to achieve a 95% deal close rate, expedited in $600K in renewals, and reduce their average customer acquisition timeline to <30 days.

From internal tool to market solution

Nate Maingi's journey to founding Therapy iQ began when he relocated to Florida from snowy Massachusetts in 2007, and connected with Therapy iQ co-founder Amy Query over a mutual interest in behavioral health and technological innovation. Together, Maingi and Query built up a behavior health care business and explored ways to deploy technological solutions that could help them run and scale their operation.

"There was no software out there designed to help behavioral health providers operate and grow their business," Maigji recalled. After testing different partial-coverage solutions, Maingi and Query ultimately decided to build their own, unified tool that more holistically met their needs as clinic operators. And soon, workflow automations, operational visibility, and financial optimization fueled by their proprietary software helped the duo grow their practice to multiple locations and a 30-person headcount. "As time went on and our business grew, we started talking about the software more and more, and seeing its value in a bigger way," Maingi explained. The founders realized they had built something that could deliver enormous value to not just their own practice, but to the entire behavioral health community looking to automate and modernize.

The transition from an internal tool to a market-ready product occurred organically. As word spread about Therapy iQ's enticing new platform, demand rapidly materialized. Their solution was simple - automate and centralize core clinical, financial, and compliance motions under one roof for other behavioral health practices like them. "We had a massive response early on. Our onboarding queue was months and months long," Maingi noted.

Strong early success selling to smaller clinic groups bolstered the founders' confidence in expanding into the mid-market, thus they raised capital to help them develop their product at a competitive pace. 

Sacrificing cash flow for deal flow

Despite their fundraise and strong growth trajectory, Therapy iQ faced customer billing complexities that created cash flow gaps and constricted the availability of working capital for maintaining operations and investment in growth-focused initiatives. "After our initial raise, we wanted to keep pace with our growth goals, but we didn't want to dilute ownership by raising another round," Maingi explained. "We wanted to maintain our independence and grow our way."

Ultimately, to keep cash available for timely investments in to the business, Therapy iQ needed to bill customers annually. “But how could we do this when our customers wanted to pay monthly?" Maingi questioned. The small to mid-sized behavioral health practices that made up their core ICP were often operating on a tight cash flow conversion cycle and typically preferred to pay monthly in order to spread costs out over time.

This fundamental misalignment between Therapy iQ's cash flow needs and customer payment preferences was threatening to slow deal velocity just as the business was gaining momentum.

Evaluating the alternatives

The Therapy iQ team explored existing financing solutions, but nothing seemed to fit their needs or stage of growth.

"We evaluated Capchase, but it became clear that their solutions weren't tailored to the needs of growth-stage SaaS companies and their application process was really complex," Maingi recalled. Traditional banking solutions with rigid evaluation policies weren't much better. 

At a minimum, Therapy iQ sought a solution that was cost-effective and easy to use, but to address the root of the problem, they needed a sustainable way to offer flexible payment terms to customers without compromising their own cash position.

Discovery and evaluation

From the first conversation, it was clear that Gynger represented a fundamentally different approach to solving Therapy iQ's challenge. Gynger demonstrated a genuine interest in understanding Therapy iQ's specific needs and building a partnership that could scale alongside the business.

"What we were really looking for was a solution that understood our needs and was excited and equipped to grow with us. We found that in Gynger," Maingi explained. "Gynger is filling a critical need in the market because legacy finance institutions are leaving a big gap," Maingi observed.

Several factors quickly emerged that distinguished Gynger from other solutions Therapy iQ had evaluated:

Cost-effective structure: Therapy iQ didn't have to dilute ownership and or pay an exorbitant price for a solution that would help them unlock their growth potential. With Gynger, they could access their own working capital while maintaining the independence they valued.

Ease of use: Gynger's platform was intuitive and uncomplicated, with no elaborate underwriting requirements. "Cost is always a factor that you can maneuver, but whether or not the tool was easy to use was a black-or-white deciding factor for us," Maingi emphasized. 

High-quality partnership: From the outset, Gynger’s team was warm, thoughtful, and attentive to the needs of Therapy iQ as they onboarded. "Gynger worked with us and leaned in - ‘let's try this, let's adjust that, let's see how we can apply Gynger to best meet your needs,’” Maingi recalled fondly.  “It was clear that they valued not just our business, but their relationship with our team.”

Flexible payments without cash flow compromise

Once implemented, Gynger not only made life easier for Therapy iQ, but it helped them consider new financial possibilities for their business.

Seamless integration and automation

The Gynger platform consolidated everything Therapy iQ needed for deal quoting and risk assessment under one roof. "We evaluated other tools, but none had everything we wanted all together," Maingi explained. Gynger’s direct integration with Therapy iQ's existing sales infrastructure in HubSpot allowed deal data to flow seamlessly between tools and automated pipeline risk management workflows for Maingi’s team.

The simplicity extended to the customer experience as well. "Once it’s set up, it feels like it’s running on autopilot in the background and never something we really have to worry about," Maingi noted.

Removing friction from the sales cycle

The impact on Therapy iQ's sales process was immediate and substantive. By offering flexible monthly payment options to customers with Gynger while receiving full annual contract value upfront, Therapy iQ was able to remove the primary friction point that had been forcing them to choose between cash flow and deal flow.

Gynger's ability to help Therapy iQ extend flexible payment terms to their customers allowed them to increase the deal success rate to an average of 95% close-won rate. "Ten months ago, it was a struggle to accelerate deal flow the way we wanted. After onboarding Gynger, we had 100% of deals close and go live in Q3."

Total cash flow control

With Gynger, Therapy iQ was able to control cash flow at every stage of their conversion cycle which had compounding impacts on their business.  The ability to offer competitive, appealing terms to customers enabled Therapy iQ to build more durable, recurring revenue infrastructure through stronger customer relationships while also investing in accelerated top-of-funnel GTM efforts without concern about pricing bottlenecks. Therapy iQ’s ability to regulate inbound cash flows with greater consistency also allowed them to build budget for strategic growth initiatives and better support their operational foundations as they scaled.

Key outcomes

The results of Therapy iQ's partnership with Gynger extended across multiple dimensions of their business:

95% deal close rate: Therapy iQ achieved a 95% deal success rate in their new deal pipeline, with Q3 seeing 100% of deals close and go live, a sizeable improvement from just 10 months prior.

$600K in renewals closed: Gynger helped Therapy iQ close $600K in renewals, strengthening customer relationships and demonstrating the value of flexible payment options beyond just new customer acquisition.

Customer acquisition timeline under 30 days: Therapy iQ reduced its customer acquisition timeline to under 30 days. "Who else can say that?” Maingi exclaimed. “Gynger played a huge part in making that happen.”

For Therapy iQ, Gynger's impact went beyond just improved metrics. The solution fundamentally changed how the company approached sales, customer relationships, and growth strategy.

By removing high-dollar financial barriers to sale, Therapy iQ could focus sales conversations on the genuine value of their platform rather than getting bogged down in cash flow negotiations. Behavioral health practices operating on tight margins could now adopt transformative technology without the financial strain of large upfront payments.

Looking ahead: Scaling with confidence

As Therapy iQ continues to expand into the mid-market and grow its customer base, their partnership with Gynger provides a foundation for sustainable, capital-efficient growth and demonstrates how the right cash flow management infrastructure can ensure businesses don’t have to choose between customers and cash flow. 

Learn more about how Gynger helps businesses accelerate towards go-to-market goals without sacrificing cash flow at gynger.io or chat with a member of our team today.