USA/Canada News
High Alpha, a leading venture studio, launched its newest portfolio company Doxly today, bringing law firms and their clients a better way to manage the diligence, deal closing and signature process.
Co-founded by Haley Altman, a veteran attorney with more than 10 years of experience completing venture capital financings and mergers and acquisitions on behalf of clients at Silicon Valley’s Wilson Sonsini Goodrich & Rosati and Indianapolis’ Ice Miller LLP, Doxly’s cloud-based platform brings improved accuracy, speed and transparency to an antiquated offline legal transaction process dotted with printed checklists, call logs and emails.
“Transaction management is a high-stakes, labor-intensive and largely opaque process filled with multiple points of potential risk and very little margin for error,” said Altman, Doxly’s chief executive officer. “Doxly will transform legal transaction management with an entirely new end-to-end cloud-based platform that allows legal teams and their clients to collaborate, manage and accelerate every stage of the deal process.”
Currently in private beta with several firms, including Ice Miller and True Capital Management, LLC, Doxly’s cloud-based platform automates workflows for diligence and closing checklists, provides transaction-specific analytics and reports and enables legal teams and clients to collaborate on documents. Through platform integrations with industry leading technologies Box and DocuSign, Doxly also automates electronic signature collection and archiving of all transaction-related information to create digital “closing books” in a secure and trusted environment.
“Companies and their legal teams are still managing diligence checklists and closing worksheets in email inboxes and file folders,” said Mike Fitzgerald, partner at High Alpha and former executive vice president of corporate development for ExactTarget and Salesforce.com. “With Haley’s experience, and her passion for pioneering a better way to manage deals, coupled with High Alpha’s expertise in software as a service, we will redefine legal transaction management with a modern online solution built to serve the needs of today’s attorney.”
According to the American Bar Association, there are more than 47,000 law firms and more than 1.3 million attorneys in the United States alone. Law firms with transaction practices are growing, according to a June 2015 Thomson Reuters report, and transactions now make up 32 percent of large law firm billings.
Doxly is expected to become generally available in Fall 2016 following the completion of its private beta.
Doxly is the fourth company to launch from High Alpha since its founding in June 2015.
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