BOSTON, April 21, 2022 — Shoobx, the equity management company that is reshaping how private companies get started, raise capital, and exit, is announcing its latest capability in its quest to raise the bar for cap table management and make venture financing simpler. The Shoobx platform now offers fully automated equity financing, a first-of-its-kind capability that allows startups, investors, and attorneys to cut down the time, effort, and money required to go from term sheet to close.
Unlike other platforms that offer fewer features or disparate tools, Shoobx’s solutions break down silos, bringing once-disconnected activities into a single, seamless automated process. With Shoobx, data entered in the company cap table is automatically synced with scenario models and documents, and vice-versa. For the first time, private companies can conduct the entire financing journey within a single platform – one that allows for easy collaboration with investors and attorneys.
“At Shoobx, we’ve been on a journey to build not just cap table software, but a true corporate operating system for startups,” said Jason Furtado, Founder & CEO, Shoobx. “Private companies need more than an online spreadsheet with permissions stacked on top. I’m proud of our team for building Shoobx into a platform that makes the whole fundraising process much easier–a platform that actually automates private finance.”
During an equity financing, Shoobx pulls information from the company’s cap table and secure data room to generate comprehensive, signature-ready drafts of National Venture Capital Association’s (NVCA) model legal documents. Investors and attorneys are able to edit, review and sign these documents within the Shoobx platform or to edit in the traditional manner, if they prefer. Signatures and inputs to these documents trigger synchronized updates in the company’s cap table and data room.
Companies can go from term sheet to deal close, without leaving Shoobx. While other options on the market claim features like document generation and data room, they can’t promise the same data connectivity, document interconnectivity, and single-source-of-truth capabilities. Often, these offerings store equity data separately in a cap table that’s not tied to the data room. Documents aren’t automatically updated, which creates multiple versions – and therefore, confusion, risk, and costly delay.
Innovative law firms like Goodwin recognize that technology is enabling a new, more efficient way to service clients and enable its attorneys to focus on the highest value work.
Mark Bettencourt, Managing Partner at Goodwin said “We are constantly looking at how technology and automation can help us deliver our services to clients in a more efficient manner. Ecosystem partners like Shoobx enable our teams to bring tech-enabled efficiencies to our clients’ equity financings. This means that we can focus on the highest value aspects of our client work.”
Construction technology startup Rugged Robotics, led by CEO and Founder Derrick Morse, completed their recent $9.4M Series A round leveraging the automated equity financing capability in Shoobx.
“I can’t imagine using traditional equity management platforms. Some do one thing well, but fail to deliver a total solution. Shoobx manages all of our cap table, data room, scenario-modeling, and document-drafting needs,” Morse said. “As someone who builds automated solutions, I strive to build the best overall system, and Shoobx has done exactly that. Their automated equity financing and amazing customer support helped us close quickly and easily, and set us up for continued success.”
David Cappillo, Goodwin Partner and Rugged Robotics’ attorney said “As an attorney, serving startups has become much more tech-enabled in recent years, accelerated by COVID and the shift to remote work”. Cappillo continued, “We’re excited to use software platforms to collaborate with clients more efficiently and transparently. Shoobx is a great example of this. Combining equity management capabilities with flexible ways to automate equity financing enables us to focus on the highest value work for our clients.”
By introducing the first-ever fully automated equity financing option for startups, Shoobx is continuing to make fundraising easier and faster for startups, attorneys and investors.
Shoobx is an equity management company that is reshaping how private companies get started, raise capital, and exit. By focusing on data integrity and risk reduction, Shoobx’s flexible platform streamlines everything from employee onboarding to issuing equity grants to maintaining a dynamic cap table, enabling companies to grow rapidly while staying financing-ready. Thousands of startup leaders, investors, and attorneys rely on Shoobx to get paperwork right the first time and make legal diligence fast and easy.
Automate your next round at shoobx.com.