Digitizing the Deal Process: Axial Launches Standard e-NDA

NEW YORK, Feb. 23, 2015 /PRNewswire/ -- Axial, the online network connecting professionals who run, advise, finance and acquire private companies, today announced the launch of the Standard e-NDA. The first of its kind in the industry, the Standard e-NDA enables every Axial member to digitally share and sign a standardized and legally binding non-disclosure agreement for each transaction they initiate on the platform.

Axial's Standard e-NDA process reduces the time spent executing NDAs by 95%, helping buyers and sellers spend their time focusing on the merits of a transaction. Axial's e-NDA toolset also accommodates organizations that wish to upload and digitize their own custom or firm-specific NDAs. Since launch, members have signed over 500 e-NDAs.

To develop the Standard e-NDA, Axial convened a task force drawn from its member base of over 22,000 middle market professionals, including CEOs, attorneys, investment bankers, private equity firms and lenders. In aggregate, these individuals sign over 4,000 NDAs annually. Axial's Standard NDA includes 13 of the most essential clauses necessary to provide the proper safeguards and confidentiality to every party involved in a transaction.

"On average, middle market investors sign 40 NDAs for every one deal they complete. Negotiating, printing, signing, scanning and sending these documents back and forth is a tremendous waste of time and money at the start of an already lengthy and complex deal process," said Joanna Curran, Head of Product Marketing at Axial. "Digitizing and standardizing the NDA execution process eliminates a major point of friction and establishes trust and confidentiality between parties who are often just getting to know one another."

The e-NDA makes it easy for members to receive, share, review and sign NDAs on the go and provides investors with a one-click internal approval process, as opposed to deal-by-deal negotiations on every NDA.

Excellere Partners, a private equity member of Axial and adopter of the Standard e-NDA said, "As the universe of middle market M&A advisors continues to expand, so too has the diversity of NDAs. Axial's standard and electronic NDA greatly enhances the deal evaluation process by both accelerating the exchange of information and removing the burden of negotiating terms. This kind of innovation will help deal professionals evaluate more opportunities each year."

About Axial

Axial (www.axial.net) is an online network connecting professionals who run, advise, finance, and acquire middle market companies. Over 200 private companies weekly use Axial to confidentially initiate a financial transaction. CEOs and transaction professionals join Axial to access advice and capital, build strategic relationships, and exchange opportunities. Headquartered in New York, NY, Axial is backed by First Round, Redpoint Ventures and Comcast Ventures.

SOURCE Axial

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