From our very first day, Shoobx has been focused on helping entrepreneurs scale their businesses effectively. Shoobx software, combined with the expertise of our dedicated team, provides value along the entire growth journey, from incorporation to IPO, and beyond.

Our recently-announced membership in the Open Cap Table Coalition will further our vision of a healthier entrepreneurial ecosystem. This first-of-its-kind group gives us a platform that will help us guide more entrepreneurs.

The newly-formed coalition is a cross-industry group focused on improving the interoperability, transparency, and portability of startup capitalization data. Leading software providers, major law firms that advise emerging companies, venture capital firms, and other integral members of the entrepreneurial landscape are teaming up to create a standard cap table format that will make equity management more streamlined for all stakeholders.

Joining this formalized collection of industry leaders was a no-brainer. We’ve been committed to standardization, transparency, efficiency, and a modern approach to corporate governance for almost a decade now. It’s exciting to join our peers in a structured coalition that’s focused on empowering startups with more knowledge and choice than ever before...

Each of the coalition’s three core principles—improving the interoperability, transparency, and portability of cap table data—are tremendously valuable for growing companies. Let’s explore each theme, and how Shoobx’s foundation aligns:

Interoperability for Startups

We apply this theme to both our software and collaboration in the ecosystem at large.

The current fundraising process is broken in many ways, for many stakeholders. Entrepreneurs lack fundamental equity management knowledge and are often too busy to properly manage documentation and data on a daily basis. This leads them to offload (what should be standard) documents onto overqualified attorneys, who are left doing grunt work like collecting signatures and copying and pasting names. 

Growing companies are spending tens of thousands of dollars on legal diligence when that money should be going towards their operations. This stunts startup growth, increasing risk for venture capital investors.

Shoobx is committed to standardizing documentation and workflows so that this all-too-familiar, and unfortunate, cycle is broken. Joining entrepreneurs, attorneys, and investors into one coalition can help break down existing barriers between stakeholder groups.

Once founders have confidence that their company’s cap table data and documentation are aligned, they’ll eventually be able to use Shoobx for more than just equity management. We see a future where vendors from all walks of business operations (insurance, payroll, liquidation) can join together on the platform in a true marketplace.

Related: How To Fix The Broken Fundraising Process For Entrepreneurs 

Transparency to Enable Collaboration

Cap table data must be accurate and evidence-based. This is critical in preparing entrepreneurs for fundraising and increases visibility for all stakeholders. This spurs much-needed trust with regard to corporate governance.

The cap table tells the story of each company’s ownership and maintaining a clear picture of who owns what is crucial. A clean cap table allows investors to confidently leverage their venture capital. When documentation is tied to each entry in the cap table, attorneys can move off standardized docs, and instead, focus on the high-complexity work they’re best qualified for (and more interested in). Startup employee option holders will better understand their stake in the company, giving them the motivation to continue on the journey and support the startup’s next stage of growth. 

Collaboration is only possible when each party has the knowledge they need to act confidently.

Related: Investor Readiness Part One: Are you investor ready?

Data Portability

In a world of cloud storage and third-party cookies, maintaining ownership of one’s own data isn’t always straightforward.

Shoobx was founded on the simple belief that your data is your data. Each startup’s sensitive documents like offer letters, intellectual property agreements, and stock options should remain in the company’s possession. 

This principle helps enable the next evolution of equity management that we touched on above. When each company takes ownership of its own documentation and data, they unlock the power to collaborate with vendors right in the platform. That means Shoobx can grow into an all-encompassing platform where founders can access all the expertise they need through a single pane of glass.

The end goal of the coalition is to help startups scale in a healthier way. Collaboration between stakeholders, and platforms, will enable this new reality.


Not a Shoobx user? Get in touch to see how our platform helps growing companies, attorneys, and investors to automate, generate, execute, and store legal documents.