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Indy legal-tech firm secures $2.2 million for seed round

September 19, 2016

Doxly Inc., the legal-software company launched by Indianapolis-based venture studio High Alpha earlier this year, announced Monday that it notched $2.2 million in equity capital and signed the world's largest law firm as a client.

The fundraising haul is the first for Doxly, which officially started in February and was introduced by High Alpha in July. Software firms in Indiana often pull in less than $1 million in their so-called seed rounds.

Venture capital firms High Alpha Capital and Hyde Park Venture Partners participated in the round, as did Palo Alto-based Nextlaw Labs, a business accelerator owned by global law firm Dentons.

The law firm, which has more than 6,600 employees across 50 countries, also signed on as Doxly's newest customer.

"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,” Doxly CEO Haley Altman said.

Doxly sells transaction-management software that helps law firms collaborate and automate workflow when handling deals that often involve hundreds of pages, numerous people and several key signatures.

The firm has five customers, including Dentons, and eight employees.

Doxly said it plans to use the cash injection to bolster its technology and teams, specifically in the areas of product development, engineering, sales and marketing.

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