About the Company:
- AppHub was founded in 2021 and offers software solutions for e-commerce merchants. AppHub’s mission is to help merchants amplify their commercial success and advance the future of commerce.
- AppHub helps merchants find leading apps in almost any category by partnering with the top partners and paths to growth in the ecosystem.
- AppHub prides itself on its customer support and ability to help e-commerce businesses grow faster and better than ever before.
AppHub had tried using four other data room providers in the past. AppHub’s team wasn’t impressed with any of their previous providers and needed something new since they conducted multiple deals a year. They kept finding unexpected costs, difficulties onboarding new members, and lots of redundant requests due to a lack of organization with their previous providers. They were looking to increase their professional image for the business as a whole and knew a solid data room could be central to that. They needed a platform that would help them organize key deal details. Before DealRoom, AppHub’s corporate development team was facing:
- Redundancies causing frustration and unprofessionalism
- Unexpected costs with per-page pricing
- Manual diligence trackers
- Misplacing key requests
- Delays in information and version control issues
- Difficulties onboarding new team members to previous data rooms
- Visibility, traceability, and accountability through the overall process
Some of the team members of AppHub were a bit skeptical about using DealRoom due to the issues with previous data rooms, but quickly found themselves comfortable with the platform and saw the benefits. They claimed it was very easy to learn and intuitive, and felt like experts after less than 24 hours. They appreciated the simple and clean dashboard and the ability to automatically sync their original diligence trackers, causing a very efficient switch. They found DealRoom to be beneficial in a multitude of ways:
- An intuitive platform meant less time onboarding new team members and external users
- A tool that they could continuously use to keep all M&A information organized in one cohesive space
- Redundant requests were eliminated due to live updates and the filtering function.
- DealRoom’s capabilities for diligence, the audit log, and analytics allowed AppHub to increase timeliness, quality of work, and accuracy
AppHub found that their goal of improving their overall professionalism was achievable with DealRoom as their centralized platform. They find every aspect of the M&A process more efficient due to features like launching new data rooms at a rapid pace and contract structuring. Not a single person has struggled with switching to DealRoom. AppHub no longer faces the complaints they used to with previous deals. They have been able to scale their team and business due to having a centralized platform. Selling bankers and advisors on using DealRoom has been easy because of how intuitive the platform is. With DealRoom, AppHub has:
- Replaced multiple tools with just one, resulting in a cleaner interface, and causing less confusion and redundancies amongst all parties using the platform
- Improved relationships and professionalism due to less frustration, stronger communication, and a better reputation during deals
- Saved several hours a week, made every aspect of the process proceed in a smoother manner, and ensured potential target’s lives were made as easy as possible
Candidly, I was certainly skeptical at first, but after using the platform and gaining comfort quickly, it was a no-brainer to continue using DealRoom.