Seattle-based doxo aims to provide corpora- tions an efficient channel for paperless trans- actions.
What: doxo, based in Seattle
Who: Steve Shivers, 41, co-founder and CEO
Mission: Provide corporations an efficient channel for paperless transactions.
Financials: Client companies will pay a subscription fee, generating revenue for doxo. The company is funded by Mohr Davidow Ventures and Amazon.com CEO Jeff Bezos’s Bezos Expeditions, which adds local cred. “To have the support of both a first-rate VC firm and the local technology community is a great endorsement,” Shivers said.
Most Read Business Stories
- Amazon, Costco not among major retailers shunning MyPillow and its Trump-boosting CEO
- Western Washington home sales, prices climbed in 2020. See how home prices rose in 23 counties.
- Bill to speed reopening of businesses draws lots of fans but faces uphill battle
- Does it make sense to pay off your mortgage early?
- Electric aviation startup MagniX opens new headquarters and production facility in Everett
Employees: Fewer than 20
Secret for now: The company is unspecific for now about details of its product and when it will be introduced, but Shivers isn’t shy about disclosing goals: “Paperless adoption is around 12 percent, which is where it was 10 years ago,” he said. “We think that we can quickly gain a 45 or 50 percent adoption rate. And if we get some big-name clients the others will fall in line.”
Purposeful: Consumers have been reluctant to embrace paperless systems for three reasons, Shivers said. They are forced to log in to several systems and can’t keep track of different passwords; it’s too easy to miss a due date; and there is no effective way to manage the disparate documents. “Half of our target market pays their bills online,” Shivers said. “But only 20 percent receives them electronically.”
Letter rip: Even though most people prefer to receive their bills through the U.S. Postal Service, sorting through eight pieces of direct mail (or “junk”) to find two important documents can be a constant aggravation. Doxo, if it reaches critical mass, could punch a hole in the post office’s hull but won’t itself sink the ship, Shivers said. “It has a lot more problems than us right now,” he said.
— Charles Bermant