Without the right systems in place, businesses are often left in the dark during the fundraising process, not knowing which documents are getting viewed, or whether each party even has the most current information. SecureDocs Virtual Data Room allows Dexis Consulting Group to ensure that every private equity group they engage with has access to the same high quality information, which led to term sheets from five different firms within 45 days of launching their VDR.
Dexis Consulting Group is a professional services firm based in Washington, DC. CEO Mihir Desai started Dexis in 2001, and has grown the firm into a middle-market company with over 500 full-time employees working across 80 countries to solve the most pressing social challenges in complex environments. Dexis provides management services to leading global engagement agencies like USAID, the US Department of State, the US Department of Defense, and the US Department of Health & Human Services.
During their time of organizational growth, Mihir and the team at Dexis started the process of raising funds from private equity firms in the Washington, DC area. They quickly realized that using a virtual data room would improve the process of storing and sharing their corporate information, and provide insight into the fundraising process that they were previously lacking.
When Dexis started the process of raising funds, they had been sending documents back and forth via email. According to Mihir, this made it difficult to keep track of which groups had updated, accurate information, and more importantly, which firms were engaging with their documents and expressing an interest in their business.
Dexis wanted to adopt a virtual data room to “provide a level playing field” for all parties involved, and ensure that every group had access to the same set of documents. The team knew that there were countless virtual data room providers to choose from - all with various features and pricing structures. Their main focus, however, was on finding a simple solution with straightforward pricing that would allow them to store and share sensitive information with private equity groups, and understand who was engaging with different documents.
Within 45 days of setting up their SecureDocs Virtual Data Room, Dexis was able to secure term sheets from five different private equity firms, which is three times faster than what they experienced prior to using a VDR. Since SecureDocs pricing plans include unlimited users, Dexis doesn’t have to worry about unexpected fees from additional users accessing their account when they start working with new organizations or financial partners.
Dexis uses SecureDocs to securely manage a broad range of sensitive documents, including financials, customer information, feedback from board members, and their corporate vision to drive the future of the organization. They also use their VDR to provide management with an overview of the business through a collection of their most important corporate documents.
“SecureDocs has allowed us to move more quickly on capital-raise discussions with private equity companies. We were able to obtain term sheets from five companies within 45 days of launching the VDR. SecureDocs helped make that happen. Prior to that we had spent 3x the time zigzagging between companies and sharing information - and not organizing ourselves and outside companies to achieve a specific outcome in a specific time period.”
“What we liked most about SecureDocs was the simplicity of the dashboard and zero frills approach to pricing. We love the fact that SecureDocs did not use per user pricing because we knew that users were changing frequently as private equity interest groups grew and fell over time.”
“We have found an unintended benefit of SecureDocs: giving management a high level view of the enterprise by distilling it down to a few documents through which we showcase our company.”
"As soon as you have an employee you need SecureDocs - you don’t want to keep confidential information in a non-secured space.”
"I wish we had started using SecureDocs much sooner. We went thorugh multiple rounds of financing as a private company and it would have made my life so much easier. "
"SecureDocs is an efficient, straightforward, secure system that has become a valuable tool for our company as we grow."
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