Venture Capital News: Doxly Raises $2.25M in Seed Funding
INDIANAPOLIS, IN, Next-generation legal transaction management software platform, today announced they have closed a $2.25M Series Seed funding round.
Doxly, a next-generation legal transaction management software platform, today announced they have closed a $2.25M Series Seed funding round and added Dentons, the world's largest law firm, as a customer. Doxly will use the capital to scale its technology platform and fuel hiring in product development, engineering, sales and marketing.
Participation in the round included Nextlaw Labs through its investment fund, Nextlaw Ventures, and leading software investors High Alpha Capital and Hyde Park Venture Partners. Hyde Park is an active investor in industry-specific software and also an investor in High Alpha Studio. Nextlaw Labs is a business accelerator developed by global firm Dentons focused on investing in, developing and deploying new technologies to transform the practice of law.
'We are excited to be investing in Doxly to bring innovative solutions to the global legal market,' said John Fernandez, global chair of Nextlaw Labs and chief innovation officer for Dentons US. 'We look forward to collaborating with the team there to address a major pain point for clients by enhancing workflow processes and improving efficiency, communication and collaboration in complex corporate transactions.'
Doxly's cloud-based software 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.
'We are thrilled to be partnering with Nextlaw Labs, Dentons, and Hyde Park to further our vision of using software to transform the legal industry,' said Haley Altman, co-founder and chief executive of Doxly. '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. 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 this vision.'
Doxly, launched earlier this year, is already being utilized in a number of cities and across multiple sectors, including the venture capital and legal industries. It will begin implementing its transaction management platform with Dentons as a customer in the coming months.
'Since Doxly's launch out of High Alpha Studio, the company has made tremendous strides advancing their product, team and sales,' said Kristian Andersen, partner at High Alpha. 'The investment from Nextlaw Labs, coupled with the addition of Dentons as a customer, really validates Doxly's value proposition and underscores the magnitude of the opportunity before them.'
This announcement follows the launch of Doxly's transaction management platform earlier this year.
Doxly transforms the archaic, chaotic process of managing legal transactions into a streamlined, efficient process. Built by attorneys for attorneys, Doxly's secure cloud-based platform automates workflows for diligence and closing checklists, provides transaction-specific analytics and reports, enables legal teams and clients to collaborate on documents, automates electronic signature collection and archives transaction-related information to create digital 'closing books' in a secure and trusted environment. Doxly was the fourth company to launch from High Alpha, a leading venture studio. Visit doxly.com for more information.
About High Alpha Capital
High Alpha, based in Indianapolis, Indiana, is a leading venture studio focused on conceiving, launching and scaling next generation enterprise cloud companies. The High Alpha Capital portfolio includes leading enterprise cloud software companies across North America. For more information: highalpha.com or on Twitter at @highalpha.
About Nextlaw Labs
Nextlaw Labs is a business accelerator focused on investing in, developing and deploying new technologies to transform the practice of law. It is an autonomous, wholly owned subsidiary of global law firm Dentons with physical and virtual locations in technology centers worldwide. Through complementary and strategic partnerships with leading technology companies, startups, other business accelerators and established legal vendors, Nextlaw Labs will invest in promising companies and develop a suite of new technologies that fundamentally change the practice of law, improving client service and enhancing client solutions.
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries.
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