Carol Manchester - Partner and President
Since joining the team at David Powell in 1999, Carol has been instrumental in the successful growth of numerous
technology based startup ventures as well as supporting and leading a variety of transition events and M&A
activities for both public and private sector companies.
Carol's 25 years of senior management experience includes financial leadership of restructuring events, crisis,
transition and turnaround management. Carol has deep expertise in management of a variety of venture based
debt and/or equity funding events as well as strategic financial and business development planning for early stage
ventures. She is also skilled in all aspects of business planning for emerging markets including: market and
risk analysis, organizational planning, financial modeling, what-if analysis and formal business plan creation,
implementation and tracking. Carol likes building and mentoring a strong financial team.
Over her twelve years at DPI, Carol has provided financial expertise to clients in the Software,
Hardware, SaaS, and Manufacturing as well as Medical Device industries. Representative clients have included:
- 3dfx Interactive (acquired by nVIDIA)
- Bloom Energy
- Covigo (acquired by Symbol)
- Deeya Energy
- Element Labs
- Meru Networks
- Pharsight Corp
- Rational Software Corporation (spin-off of Catapulse)
- Roth & Rau
- Trymedia (acquired by Macrovision)
Prior to joining DPI, Carol was VP, Finance and Chief Financial Officer for ten years at Vista Research -- an
emerging growth technology development company. Carol began her career at Arthur Andersen.
Carol received her B.S.C, Magna Cum Laude, in Accounting from Santa Clara University and is a Certified Public
William R. Gerth - Partner and President Emeritus
Since joining David Powell in 1995, Bill has been instrumental in the successful growth of numerous start-up
ventures across the Internet, software, SaaS, hardware, medical device and fabless semiconductor industries.
Bill's 30 years of senior financial consulting experience includes general management and financial leadership,
strategic planning and raising capital through debt or equity. Bill is also an expert in corporate
restructuring, crisis management and turnarounds.
In his 17 years at DPI, Bill has worked with a broad range of clients including:
- Bloom Energy
- Hooked Media
- Image Shack
- Info Partners
- Presto Engineering
- Replay Solutions
- Spoke Software
Prior to joining DPI, Bill spent 15 years at Arthur Andersen providing accounting and audit services to venture
backed and privately owned companies. Bill was also cofounder, owner and President of a closely held
manufacturing company for 8 years.
He received both his BBA and MBA from the University of Cincinnati.
Douglas S. Barry - Partner
Since joining the team at DPI in 1992, Doug has played a key role in financial management in many emerging
companies. These companies have ranged from non-funded startups to VC-backed firms with $50 million plus in
Doug's 30 years of financial consulting experience includes debt and equity financing, financial modeling,
business plan creation, review and implementation, cash management and investments, fundraising, mergers and
acquisitions, Board of Directors' presentations, strategic planning, systems improvement and cost analysis.
Doug has a broad range of expertise across Software, Financial Services, Internet, SaaS, Social Gaming, Medical
Device and Manufacturing industries. His client list includes:
- Good Technology
- Great Entertaining
- Incat Systems (acquired by Adaptec, spun off as Roxio)
- Integrity QA Software (acquired by Pure Atria Software)
- Optimedica Corporation
- Reactrix Systems
Prior to joining DPI Doug held senior financial management roles at Massachusetts Mutual Life Insurance, The
Portola Group, Pollock Financial Group and Crocker National Bank.
Earlier in his career Doug was a Lieutenant Commander in the United States Navy. He is a Board Emeritus member
of TheatreWorks and continues to serve on its audit committee.
Doug received his BA in Economics from Santa Clara University followed by a JD from Santa Clara University
School of Law. He is a member of the California Bar.
Thomas G. Ream - Partner
Tom joined DPI in 2009 after spending the prior ten years as CFO and/or COO for a number of venture backed
companies, primarily in the enterprise software (including an enterprise social network start up), email management
and financial services sectors. For these companies Tom had a wide variety of responsibilities encompassing
fund raising, financial planning, accounting, human resources management, facilities and legal affairs. In
addition to traditional CFO responsibilities, Tom has also managed corporate development, business with the US
Federal and State governments, a real-time mission critical data center, professional services, and even sales and
marketing. Tom has led contract negotiations with major banks and manufacturing organizations leading to
multiyear multimillion dollar contracts, inside the US, and in Europe, Asia, and Latin America.
Tom led and closed a number of financings for his companies, raising in excess of $100 million, and also
participated heavily in M & A activity on both the buy and sell side. Tom worked for many years at VeriFone
prior to its sale to Hewlett Packard in 1998, and helped build the International Division from 15 employees and $6
million in revenue to 300 employees and $180 million in revenue. Along the way, Tom held various positions;
first as Controller, International Division, then VP Americas (Latin America and Canada) and finally VP and General
Manager of the International Division, which, as a corporate officer of a public company, he led from $100 million
in revenue to $180 million.
At DPI, Tom handles a wide variety of clients, and has numbered ViVu (sold to Polycom in October 2011), Qik
(sold to Skype in early 2011) and Tapulous (sold to Disney in mid-2010) as three of the most notable. In addition,
he has clients in the email messaging and security, mobile communications, web publishing, and couponing spaces, to
mention a few.
Tom serves as Vice Chairman and Chairman, Finance Committee of Family and Children Services, a non-profit
organization which has provided counseling, caring and support to children, youth and adults in Santa Clara and San
Mateo counties since 1948.
Tom received his MBA in finance from UCLA, graduated with honors from UCSB with a degree in economics, and is a
Certified Public Accountant in California. He belongs to the AICPA, and got his start in business by working for
On any given assignment we can offer you the perfect mix of strategic guidance and operational accounting and
controls. You only pay for the skills you need.
We have a large network of Controllers who often assist the CFO, but in many cases serve as the primary point of
contact with the client. Members of our network have been with us for over ten years and include specialists
in revenue recognition, stock option accounting (§409A and FAS 123(R)) and accounting systems selection. They
are also well versed in the establishment and maintenance of systems supporting Federally sponsored grants and