How Pax8 took control over data and heightened their fundraising process with DealRoom

I wanted to take more control away from our attorneys. Now we have control of our data and are able to understand where it is going, who is seeing it, and what most recent version is being presented. I can give answers to our CEO quickly.

Jefferson Keith

SVP, Corporate Development at Pax8

About the Company

Tech distributor founded in 2012
Addresses market need for a modern distribution channel for cloud IT service providers
Simplifies the way organizations buy, sell, and manage cloud solutions

Challenges

Pax8 originally contacted DealRoom looking for a data room. They wanted more control over their own processes, as their data was controlled in rooms their attorneys set up and owned.

The main goal was having more direct communication with investors and lessening their response time.

They were tired of having to ask attorneys for progress reports to share with their own CEO. They also wanted to be able to respond to investor questions on their own time.

Data was managed through their attorneys causing delays in responding to investor and leadership questions
Managing investor pipeline via multiple email threads and spreadsheets

Solutions

DealRoom’s permissions settings allowed Pax8 to have full control over data.

Not only did this remove their middlemen, but it also meant making updates, adding users, and changing permissions whenever, wherever.

As a bonus, our project management tools could also be transformed into a great way to view, manage, and produce reports regarding their investor pipeline.

DealRoom’s permissions settings and administrator flexibility allow for ownership over data
Modifications to data room users, documents, and access controls can be done at any point without needing external permission
Pipeline management tool keeps all current and prospective investor tracking in one place

Outcome

While Pax8 had originally started their search for a virtual data room, they ended up finding a comprehensive solution that enhanced their overall investor pipeline management.

From data storage and sharing to investor communication and progress reports, DealRoom helped readily execute Pax8’s entire investor management process.

Integration was 50% faster with DealRoom compared to previous methods
Improved investor relationships through the enablement of direct communication
Centralized platform removed obstacles related to accessing reports and modifying access permissions
Pax8 could gauge and rate prospective investors through their interactions within DealRoom