What is Shoobx?
Shoobx is the only comprehensive legal platform that modernizes corporate legal activities for startups so that entrepreneurs can focus on what matters—building their company. Shoobx can help with incorporation, hiring employees, creating and executing stock incentive plans, closing a round of funding, and more, and will scale with your company as it grows. Our secure, expert-built platform also brings together all the key players in your company’s corporate lifecycle: entrepreneurs, lawyers, investors, employees, corporate officers, and board members. Here are answers to some questions people have about Shoobx.
- Who can use Shoobx?
- What can Shoobx do?
- Why did we build Shoobx?
Who Can Use Shoobx?
Shoobx is for Delaware C Corporations only, and we can serve your company whether you need to incorporate or are already up and running. Our customers are entrepreneurs and innovators with companies ranging from brand new entities to companies with hundreds of employees who have been through multiple rounds of funding.
What Can Shoobx Do?
There’s a lot that Shoobx can do! These are a few areas where we shine:
- Assist your company with corporate legal activities from incorporation to exit.
- Generate legal documents intelligently based on your company history and user input via workflows, and let you execute documents through the platform.
- Keep all your documents organized and accounted for in a secure Data Room, making you investor-ready every day.
- Act as the one place where entrepreneurs, employees, lawyers, board members, and investors can come together to contribute their unique piece of the “corporate puzzle”.
Shoobx eliminates outdated manual and redundant tasks and keeps all your data in one place with customizable permissions to ensure that your company information is accessible to the right people within your organization.
What tasks can we help with? These are our key categories:
- Incorporation. Incorporate your company via Shoobx, or get your existing company started on the platform. The incorporation workflow in Shoobx only takes 10 - 15 minutes.
- Equity Management. A dynamic stock ledger and capitalization table are always up-to-date and link automatically to the relevant underlying documents. Shoobx can help you grant equity and create electronic stock certificates, and can handle multiple classes of stock, 83(b)s, automated time-based vesting, stock splits, warrants, and other investment types. We can also help automate 409A valuations.
- Human Resources. Digitally generate offer letters, key hiring forms, and policies. Manage your company’s org chart and employee details. Your employees will also all get Shoobx logins to access information related to hiring, insurance, and benefits. Shoobx will also hold your IP assignments and contracts.
- Board and Stockholder Relations. Centralize board and stockholder communication and signature requests and track the approval status of documents under review.
- Fundraising. Streamline diligence with a secure data room holding all of your documents and easy investor access. Complete funding events such as SAFEs, Bridge Notes and Equity Financings faster and more efficiently using our workflows. Save your company money and time.
- Legal Collaboration. Register your legal counsel to grant access to company documents in your Data Room and customize permissions to make collaboration with your lawyer more efficient and transparent.
Why Did We Build Shoobx?
Entrepreneurs have limited resources and may not be able to invest the time or money to attend to all the legal details of a growing company. Those small oversights manifest as costly and messy issues when the company reaches a financing or liquidity event. That’s why we’re here.
We take care of the corporate complexity through the whole lifecycle—formation, employee onboarding, equity management, fundraising, board and stockholder communications—so it gets done right to begin with and the entrepreneur can focus on building the company. With Shoobx, you not only have a secure and well-tested platform for managing your corporate legal activity, but you also have a hub of institutional knowledge that will allow you to act on legal events like financing, employment, and ownership.