Technical due diligence

Technical due diligence for investors, acquirers and founders

Before you invest in, buy or raise for a tech company, our fractional CTOs check whether the technology does what the pitch says, and whether the team can deliver the plan. Every issue we find comes with a prioritised plan to fix it.

Under NDA. Fixed quote. Report in 2 to 4 weeks.

2 to 4 weeks
from kick-off to report
30+ pages
of evidence, with screenshots of the code and infrastructure
£5k to £25k
fixed quote, agreed before we start
NDA
signed before anything is shared

What is technical due diligence?

Technical due diligence is an expert review of a company’s code, architecture, infrastructure, security, AI claims and engineering team, before an investment, an acquisition or a major scaling decision. The output is a practical report with evidence, risk ratings and a prioritised plan to fix what needs fixing.

Technical due diligence is an expert review of a company’s code, architecture, infrastructure, security and engineering team before you invest, acquire or raise. We work for private equity, VCs, family offices, corporate acquirers and founders, from our London office, on site across the UK and remotely. Fixed quote of £5,000 to £25,000.

Who it is for

The same review, written for whoever has to make the decision.

Investors and VCs

Before a deal: whether the technology does what the pitch says, and whether the team can deliver the plan your money is meant to fund.

Family offices and angels

Direct investments without a technical team in-house. A plain-English summary for the principal, with the evidence behind it.

Due diligence for family offices

Private equity and corporate development

Before a buyout, a bolt-on or a corporate acquisition: the technology risks and costs that change the price or the 100-day plan.

Acquirers

Before an acquisition or merger: what you are buying, who controls the code and accounts, and what it costs to run and scale.

Founders

Before fundraising or a big launch: see your technology the way an investor will, and fix what they would find first.

Technology is often not what the deck says

The evidence sits in the code, the infrastructure and the team, which is exactly what a technical review looks at.

40%

of European startups classed as “AI” showed no evidence of using machine learning (2019)1

It has happened to very experienced money

Funds, banks, acquirers and families have lost money on technology that was not what it seemed. For each case below: what was claimed, what turned out to be true, and what a technical review checks.

Theranos

The Walton, DeVos, Cox and Murdoch families were among investors who lost over $600m in total.

Claimed
Blood tests from a finger-prick, on its own devices.
What came out
The technology did not work as claimed. The DeVos family office’s managing director testified that its due diligence relied on two binders sent by Theranos and a report carrying Pfizer’s logo.
What a technical review checks
Independent evidence that the technology works, rather than documents supplied by the company.

sourcesource

Frank

Bought by JPMorgan for $175m in 2021.

Claimed
More than 4 million customers.
What came out
Fewer than 300,000. The founder was convicted and sentenced to more than seven years. The judge said of the buyer: “they have a lot to blame themselves”.
What a technical review checks
User records at database level: activity, sign-up dates, duplicates. A spreadsheet export is not evidence.

source

Builder.ai

London-based. Raised over $450m from backers including Microsoft and Qatar’s sovereign wealth fund.

Claimed
AI that builds apps.
What came out
Entered insolvency proceedings in May 2025 after its revenue figures were revised down. One adviser said the exaggeration “should have been obvious to anyone who looked properly”.
What a technical review checks
How the product is actually built and delivered, compared with the claims in the deck.

sourcesource

FTX

Sequoia wrote its $213.5m stake down to zero. Equity investors had put in more than $1.8bn.

Claimed
Best-in-class controls, including a proprietary “risk engine”.
What came out
The SEC alleged that FTX’s sister trading firm was exempt from the key risk controls FTX promoted to investors.
What a technical review checks
Whether the controls described to investors exist in the code, and who can bypass them.

sourcesource

Nate

Allegations

An AI shopping app that raised over $50m from venture investors.

Claimed
Purchases completed automatically by AI.
What came out
The US Department of Justice alleges purchases were completed by contractors in a call centre and that real automation was “effectively 0%”. These are allegations, not findings.
What a technical review checks
Whether the AI is real: what runs in production, and what is done by people.

source

Synapse

A venture-backed fintech platform serving other fintech apps.

Claimed
Reliable infrastructure for holding customers’ money.
What came out
Its bankruptcy trustee found an $85m shortfall between customer balances and the funds banks held. More than 100,000 customers were locked out.
What a technical review checks
How money is recorded and reconciled: the ledger, and whether it matches the bank.

source

I don’t want this to happen to me

Talk to a CTO about the company you are looking at, before the money moves.

What we check

The questions a technical buyer or investor would ask, answered with evidence.

Code and architecture

Is it built to grow with the business, or will it need rebuilding after your money goes in?

Is the AI real?

What runs in production, what is a third-party service, and what is done by people behind the scenes.

Security and compliance

Security weaknesses in the architecture, code and deployments, data leaking where it shouldn’t, and gaps against the regulations that apply to the business, such as UK GDPR. Penetration testing can be arranged separately through our security specialist partners.

Who controls what

Whether the company owns its code, cloud accounts and app store listings, or an agency or one employee does.

The team and key people

Who really understands the system, and what happens if they leave.

Can it deliver the plan?

Whether the technology and team can reach the scale and goals of the plan, what it costs to run today, and what it would take to get there.

What you receive

Written for the person making the decision, with the detail behind it for anyone who wants it.

A summary for decision-makers

Two pages, in plain English. The technical risks, how serious each one is, and what it would take to fix.

The evidence behind it

A detailed report with screenshots of the code, infrastructure and configuration, for your advisers or the company’s team.

An action plan, not just a list of problems

Every issue is concrete and prioritised, with the steps to resolve it: what to require before completion, and what to do in the first 100 days.

A call to walk you through it

We go through the findings with you, and with the company’s team if you want us to.

See what you would receive

An anonymised, shortened sample report, based on a real engagement for an investor. It covers who controls the systems, the cost of the current setup, performance, the AI claims, security, and what to require before completion.

How it works

  • Step 1

    Intro call

    Tell us about the company and what the review is for. We will tell you honestly whether it is worth doing.
  • Step 2

    NDA and fixed quote

    An NDA and services agreement are in place before anything is shared. You get a fixed price and a timeline, typically 2 to 4 weeks depending on size and complexity.
  • Step 3

    The review

    Fractional CTOs and developers with expertise in the company’s tech stack review the code, systems and team.
  • Step 4

    Report, plan and walkthrough

    You get the summary, the full report and a prioritised action plan, and we take you through it. Our copies of the company’s material are deleted after delivery.

How we keep it confidential

NDA first

A proper NDA and services agreement are signed before the company shares anything.

Nothing kept afterwards

Copies of the company’s code, documents and data are deleted once the report is delivered.

How much does it cost?

A fixed price, agreed before we start.

Technical due diligence

£5,000 to £25,000

Depends on the size of the codebase, team and project. Fixed quote after a free call. Typically 2 to 4 weeks.

Board oversight after you invest

£500 a month

Optional. We attend two board meetings a month (up to two hours in total), oversee what has to change and guide the team. Flexible monthly retainer.

Prices exclude VAT. Need more hands-on support for a portfolio company? See our fractional CTO service.

Investing in, buying or raising for a tech company?

Talk it through with a CTO first, or see exactly what a report looks like.

What clients say about our technical reviews

See what our clients have to say.

“Lev was able to tailor his service offer to the specific needs we had at the time. His advice was invaluable and provided a good "second pair of eyes" to validate and enhance our proposed approach to our IT development and structure. We look forward to working with Lev again”

Max Pell

Chief Administrative Officer, Fennech

“We've worked with Lev and Metamindz for several months, both in a fractional CTO role and on recruitment. They've been excellent throughout, responsive, easy to work with, and highly capable. I couldn't recommend them enough” source

Jacob Hinson

Google review

“I would highly recommend Lev as a fractional CTO. What truly sets him apart is his rare combination of deep technical expertise and business acumen, coupled with a genuine investment in seeing others succeed. His ability to assess technical challenges and architect solutions while considering the broader business context has been invaluable. One of Lev's standout qualities is how he meets you exactly where you are - whether discussing early-stage challenges or complex architectural decisions, he tailors his guidance to your specific business stage and needs. What's particularly impressive is his commitment to giving honest, practical advice, even when it doesn't directly benefit him - a testament to his integrity and long-term perspective. His talent for translating complex technical concepts into clear, actionable insights for non-technical stakeholders is remarkable. In every interaction, Lev brings clarity and strategic direction that helps navigate both immediate technical decisions and long-term architectural planning.” source

Aeva Health

Google review

Hear directly from Tanya Mulesa, Founder of CICON.app, about her experience working with Metamindz.
Transcript

Hi, my name is Tanya Mulesa, and I'm the founder of tech startup Cicon App. And we have been working with Metamindz and Lev Perlman, and we're absolutely happy with the service. Um, we have worked with him on the technical setup of the app, technical due diligence. Lev was mentoring our team and helped to quickly implement all the necessary changes and debugging. We are very happy. The service was quick, actionable, effective, and we're very grateful for it. Thank you very much.

Tanya Mulesa

Founder, CICON.app

Technical due diligence in London and across the UK

Our office

Hale House, 76 Portland Place, London W1B 1NT

On site across the UK

We work on site anywhere in the UK and have done so for clients in London (central, east, south and north), Leamington Spa, Hertfordshire, Daventry, Brighton and Surrey, among others.

Remote abroad

Remote for clients in Europe, the US and the Middle East.

When is our technical due diligence not the right fit?

  • You need a penetration test.

    We review the security of the architecture, code and deployments, data leaks and compliance gaps, but we do not run penetration tests ourselves. We can bring in one of our security partners, or refer you to them.

  • You want us to tell you whether to invest.

    We give you the technical facts your decision depends on: what we found, how serious it is and what it would cost to fix. Whether to invest, and on what terms, is your decision with your financial and legal advisers.

Frequently Asked Questions

Our assessment covers code quality, infrastructure setup, team structure, development processes, security practices, scalability, technical debt and any AI claims. You get a very detailed report with actual screenshots of the codebase, infrastructure and configuration, clear steps to fix each issue, and a suggested timeline. We then support your team in implementing the changes.

Typically 2 to 4 weeks, depending on the size and complexity of the codebase. We give you an estimated timeline on the intro call and agree it before we start.

A two-page summary in plain English for decision-makers, and a detailed report with the evidence behind it: screenshots of the code, infrastructure and configuration, every finding rated by severity, and concrete steps to fix it, with links to documentation and resources so the team understands the cause. Then a call to walk you through it.

Typically £5,000 to £25,000, depending on the size of the codebase, team and project. You get a fixed-price quote after a free initial call. Prices exclude VAT.

No. We work with investors, VCs, angels, family offices, acquirers and founders. Founders use it to assess their own technology the way an investor would, before raising or launching. One founder used it a few months before appearing on BBC Dragons’ Den, to check the scalability and security of their technology before the episode aired.

No. We give you the technical facts your decision depends on: what we found, how serious it is and what it would cost to fix. Whether to invest, and on what terms, is your decision with your financial and legal advisers.

Yes. We look at what actually runs in production: whether there is a model the company owns, a third-party AI service, a set of rules, or people doing the work behind the scenes. We also check how personal data is passed to any AI service.

We can still assess a lot from live systems, documents, interviews and the way the product behaves. Anything we can’t verify is written as an open question rather than a finding, so you can see exactly what is unknown. A refusal to share code is itself worth knowing before you invest.

Yes. We work for private equity firms, VCs, family offices and corporate acquirers as well as founders and startups. The review is the same; the summary is written for whoever makes the decision.

Yes. Our office is at Hale House, 76 Portland Place, London W1B 1NT. We work on site anywhere in the UK when needed, and have done so for clients in London (central, east, south and north), Leamington Spa, Hertfordshire, Daventry, Brighton and Surrey, among others. We work remotely for clients in Europe, the US and the Middle East.

Yes. We book calls with the team to help them understand the report and make the changes at the right priority. If needed, our developers can help implement them too.

Yes. As an optional extra at £500 a month, we attend two board meetings a month (up to two hours in total) to oversee what has to change and guide the team. It is a flexible monthly retainer.

A proper NDA and services agreement are in place before anything is shared, and we send them for your review before we kick off. Our copies of the company’s code, documents and data are deleted once the report is delivered.

Talk to a CTO about your due diligence

Tell us about the company and what the review is for. Everything you share stays confidential.

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