When you do a funding round, in addition to sharing the Term Sheet, Shareholders Agreement and new company Articles with the investors, the lead investors are also going to want to do their due diligence on the company, including asking to see
- founder service agreements,
- employment agreements for key team members,
- contracts with third parties,
- IP assignment agreements,
- business plan and financials, etc.
Sure, you could upload them all to Google Drive and share with the investors there, but it’s a pain, they need separate logins, nobody remembers where to find them later, you can’t remember who you shared which documents with, and you have to recreate the logins for every shareholder and investor, when they’re all already set up on SeedLegals.
Founders and investors told us they really want to see and keep everything in one place, not just for one funding round, but for future rounds, and, for investors, across their portfolio.
So, in keeping with our goal of SeedLegals being the one-stop destination to grow your business, we’ve added Data Room, which integrates beautifully with your funding round on SeedLegals.
If you head over to the Documents tab you’ll see all the documents created by SeedLegals, along with the ability to upload your own documents:
Then, we created Groups to make it super-easy to share with preset and custom groups.
Preset groups include All investors, which dynamically matches all investors in the round. Add a new investor? All docs in that sharing group are automatically shared with them. Investor pulls out? Just remove them from the round, and all their sharing permissions are automatically removed.
Or, go ahead and create your own custom groups, for example:
- Lead investors and their lawyers
- “Maybe” and “Confirmed” investors
Whatever works for you.
On the rare occasion that SeedLegals funding round documents need to be edited off-platform, you can now upload them as well, so everything for your round is always securely stored in one place.
Data Room is included in our £69/month Scale subscription package, start and stop anytime.