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Legal Transaction Management Software Doxly Gets $2.25 Million Funding To Accelerate Growth And Hire New People

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Doxly is legal transaction management software. Doxly transforms the client and firm’s experience by bringing efficiency, transparency, and order to the transaction process. Doxly shifts transaction management from a cost center to a profit center. Below is our interview with Haley Altman, CEO at Doxly:

haley-altman

Q: How did the idea behind Doxly come about?

A: The idea for Doxly was born at 3 A.M. while my colleague and I sat surrounded by hundreds of manila closing folders, hunting for one missing signature page. A multi-million dollar closing scheduled for the next day hinged on that one page. In that moment, I realized there had to be a better way and started to develop the idea for Doxly.

I brought the idea for what would become Doxly to High Alpha, an Indianapolis-based venture studio, and participated in High Alpha’s Sprint Week process, a four-day business design exercise where High Alpha focuses on building the Minimally Viable Business for the next High Alpha portfolio company. At the end of Sprint Week, I left my role as partner at Ice Miller and partnered with High Alpha to found, build, and launch the business.

Q: How did you turn your inspiration into a product?

A: Before starting Doxly, I was a corporate attorney for over 10 years. I completed thousands of transactions from small debt transactions to $800M public-private mergers opposite attorneys from around the world, and saw the problem we’re solving first-hand.

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Streamlining corporate transactions is just the first step, though. My mission for Doxly is to build a product that makes attorneys’ lives better and shines a brighter light on the value attorneys provide clients. We think this transaction management is just one way we plan to make attorneys’ lives better.

Q: Could you please give us more insights into Doxly’s functionality?

A: Doxly is a secure, cloud-based software platform that accelerates diligence, closing, and signature collection through automated workflows, intelligent diligence and closing checklists, document-level collaboration, transaction analytics, and intelligent corporate practice management tools. Attached are a couple screenshots to see what the software looks like under the hood.

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Q: Which customers benefit from your product and how?

A: We currently have customers in a number of cities and across multiple sectors, including the venture capital and legal industries. Prominent early customers include Ice Miller, True Capital Management, LLC, and now Dentons, the world’s largest law firm.

Initially, we are focusing on corporate practices within law firms as they handle the largest volume of transactions on a regular basis. We also see applications for our product in real estate, lending, municipal finance, securities, and really any legal practice that handles transactions of any kind.

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Q: You’ve recently announced a $2.25 million Seed funding; what are your plans?

A: We are thrilled to be partnering with Nextlaw Labs, Hyde Park Venture Partners, and High Alpha in this funding round. Dentons and Nextlaw Labs’ expertise in law and legal tech, combined with High Alpha and Hyde Park’s expertise in enterprise software, will help us accelerate our vision and growth for the company.

We plan to use the capital to scale our technology platform and advance our hiring in product development, engineering, sales, and marketing. With our continued rapid growth, we’re constantly bringing new team members aboard. This investment provides the ability to accelerate hiring in critical areas and recruit proven talent even faster to help our team achieve even greater growth. Our plans are to triple our team over the next year — people interested can view open positions at doxly.com.

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