The Locker’s automated, standardized software puts power into founders’ hands, drastically reducing time and cost for both funders and founders
NEW YORK, July 15, 2024 — Today, The Locker – the first and only comprehensive automated diligence software – launches, outsourcing diligence to founders. Revolutionizing diligence, The Locker’s human-verified, shareable software offers investors an expansive and dependable diligence check on private companies.
The Locker is a shareable diligence that transforms 900 data fields into a concise snapshot on the health of a business. Founders set up their Locker once, update monthly and give an access key to funders. Lockers are standardized, with quantitative analysis and fully automated diligence, to give investors a consistent analysis with opinions and human-verified diligence.
“The current diligence system is costly, subjective, inconsistent and biased – and slow manual diligence is a bottleneck for deal flow, keeping millions of founders from funding,” says Nicole Loftus, Founder of The Locker. “Now, founders can get a faster YES and more funding, and investors get quantitative vetting of a business, freeing 95% of their time and effort.”
Loftus disrupted a $20 billion industry and built a tech company that was #8 on the Inc. 500. Witnessing the positive impact that growing and well-funded businesses have on communities and the economy, Loftus decided to create, acquire and grow the services and solutions founders and funders need to be successful – paying it forward. To build The Locker, Loftus sought out the best diligence firm in the U.S., acquiring CrowdCheck – the #1 recommended firm for 12 years – in 2023 to launch The Locker as a proprietary fintech product. CrowdCheck has worked with thousands of private firms, brokers and crowdfunding platforms, and is the most trusted diligence and compliance firm nationwide.
The Locker is a form that feeds calculations, resulting in a complete diligence report, shared with funders who access a dynamic, simple, interactive, dashboard interface. Lockers are verified to be in good standing, with no litigation, no bankruptcy, checked financials, ten balance sheet ratios and 60 flags. The Locker is a shareable private repository, so a company’s data is protected, and the founder can maintain focus while the investor reviews a complete package of data, flags and calculations. With founders driving the diligence process, they can now deliver a consistent set of data to every investor.
Zachary Hansen, Founder & President of a private equity fund among the first to use The Locker, says: “The Hansen Family Office is thrilled to partner with The Locker, owing to its meticulous founder-driven diligence process. We recognize The Locker as an innovative solution that significantly streamlines and expedites our underwriting and funding procedures. This strategic collaboration not only enhances our operational efficiency but also provides us with a competitive edge, enabling us to fund high-quality companies at a remarkably quicker pace.”
Lockers are available to entrepreneurs for just $99.99 per month, and investors can view Lockers for $150 each per month. Visit http://yourlocker.co for more information.
ABOUT THE LOCKER
The Locker is the first and only automated, founder-driven, comprehensive, shareable diligence software. Founders, raise money faster, save valuable time, be a hero to funders. Your Locker holds your verified information in one place so you can go back to doing what you do best, running your company. Funders, save money and time, get better data, decisions and returns.
Media Contact: Kristin Lunt
[email protected]
516-306-6374
SOURCE The Locker
