Not only does dealcloser makes lawyers’ lives easier, but it also creates a better a better experience for clients, who no longer have to travel to the firm and spend half a day walking around a table signing documents. They can do everything they need to do on a deal from their phone or tablet.
So how did Reshef and his co-founder come up with such a specific software as a service (SaaS) product?
Prior to co-founding dealcloser, Reshef practiced corporate law at a large international firm. As a junior lawyer he was responsible for manually reviewing, sorting and pushing all this paperwork.
“If you use technology at all,” he says, “it takes five minutes of doing your first job on a deal to be like ‘How is there not an app for this?’”
A quick aforementioned Power Point presentation later and he secured a technical team and that initial investment.
“No one has ever disagreed with the problem,” CTO and co-founder Mike O’Connor says.
O'Connor joined dealcloser as a technical consultant. He was hired through his “startup as a service” firm, White Icon, to develop a prototype and minimum viable product, but opted to stay with the startup full-time — even bringing his business partner, Darren Yuhar, into the fold. (Yuhar now works as Chief Product Officer at dealcloser.)
With lawyers spending nearly 40 per cent of their time on administrative tasks, dealcloser aims to become a comprehensive solution for corporate attorneys moving forward.
"We're always trying to stay one step ahead of what the legal market will need," O'Connor says.
This article appeared in a slightly different form on StartupEdmonton.com