SimpleClosure, a Santa Monica, CA-based provider of a platform to automate the bureaucratic and manual work to shut down a company, raised $4M in Seed funding.
The round was led by Infinity Ventures, with participation from Anthemis Group, Foxe Capital and existing investors.
The company intends to use the funds to increase headcount across product & engineering and go-to-market functions.
Led by CEO Dori Yona, SimpleClosure leverages legal tech and AI to simplify the wind-down process by automating bureaucratic and manual work to resolve any remaining obligations with customers, state agencies, and team members on behalf of the dissolving business. The company, which has seen an influx of customers since its public launch in September 2023, has now surpassed seven figures in annualized revenue. Since launch, SimpleClosure has increased its revenue more than 14x and customer base by more than 6x. Current referral partners include law and accounting firms, accelerators, as well as startup service providers such as Mercury.
The majority of customers range from bootstrapped businesses to well-funded startups.
FinSMEs
27/02/2024