# FoundationState

> Independent Technical & Product Due Diligence

- Canonical listing: https://agencysource.com/agencies/foundationstate
- Categories: [Custom Software Development](https://agencysource.com/categories/custom-software-development), [Cloud & DevOps](https://agencysource.com/categories/cloud-devops), [Business Consulting](https://agencysource.com/categories/business-consulting), [Cybersecurity](https://agencysource.com/categories/cybersecurity), [IT Consulting & Managed IT](https://agencysource.com/categories/it-services)
- Services: IT Strategy Consulting, Business Consulting, Cloud Consulting & SI, Cybersecurity
- Industries: Financial services, Information technology, Business services
- Team size: 2 - 9
- Hourly rate: $150 - $199 / hr
- Minimum project: $5,000+
- Founded: 2025
- Website: https://foundationstate.com
- Listing: Not yet claimed
- Agency Source rating: no Agency Source reviews yet

## About

FoundationState provides independent Technical and Product Due Diligence for private equity investors, venture funds, corporate acquirers and boards evaluating software and technology-driven businesses.

Our Technical Due Diligence assesses whether the platform can support the investment thesis: architecture and scalability, cloud infrastructure and cost efficiency, cyber security posture, source code quality, open-source licence compliance, IP ownership, DevOps and delivery maturity, and engineering team capability and key-person risk.

Our Product Due Diligence assesses whether the product organisation can deliver the growth plan: product strategy and market fit, roadmap credibility, SaaS metrics (churn, NRR, cohort behaviour), delivery capability and AI readiness.

Led by founder Ryan Musselwhite, who has run technology environments spanning 15+ SaaS products, 100,000+ end users and multi-cloud operations across Azure, AWS and Rackspace, FoundationState combines transaction support, independent technology review and hands-on operator experience. We have reviewed 15+ acquisition targets and supported eight completed acquisitions.

Engagements are scoped to the deal, from a one-to-two-week focused review to a three-to-eight-week full assessment, and every report includes an executive summary, a prioritised risk register and strategic recommendations that investors and boards can act on.

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