Collaborating on Shoobx
One of the hurdles that law firms have to navigate when working with startups is efficiency and scalability. Lawyers that want to work with startups have to balance their desire to see those companies grow and succeed with maintaining a good value-to-time ratio.
Shoobx makes that possible, says Ryan.
“[Shoobx] can even go beyond efficiency and create a reliable experience that you can scale. You can increase the same value over time. In addition, you can serve more clients—especially when you’re serving early stage business, you want as many clients as possible, and you can’t hold the information from 100 of them in your brain. Having systems is important and tech tools need to be behind those systems.”
Even before their first formal raise, Pangea.app had had a flurry of activity, with pre-seed financing and a number of early employees with stock options. Moving onto Shoobx let them organize and manage a growing cap table, while also providing the ongoing documentation support they needed to be successful.
“The cap table has been really easy to use as a whole. That’s a big part of the value. Almost everybody is getting some sort of cap management, but bundling that in with document management and storage is really smart,” says Ryan.
On a day-to-day basis, Shoobx also allowed Adam to handle a lot of his own documentation, while giving Ryan much-needed oversight over the process. For the everyday, repeatable processes—IP agreements, NDAs, stock agreements—using Shoobx lets Adam take control, with the assurance that all of the documents created are standard and secure.
“There are tons of DIY products on the market, but without oversight, DIY can be counterproductive and lead to mistakes,” Ryan explains. “Shoobx gives you that same efficiency and speed, but without any of the risk.”