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SimpleClosure raises $1.5M in less than 24 hours to help companies shut down faster and cheaper | TechCrunch

Sep 06, 2023 - techcrunch.com
SimpleClosure, a startup co-founded by Dori Yona and Nimrod Ram, aims to automate the process of shutting down a company. The platform, which raised $1.5 million in pre-seed funding in 24 hours without a pitch deck, is designed to streamline the often costly and time-consuming process of winding down a company. The company's services include collecting information specific to a company's situation, initiating and executing dissolution and closure plans, and handling post-closure activities.

The startup is currently working with other startups, corporations, and LLCs, and plans to expand its services to other segments. Since June, SimpleClosure has seen significant growth in paying customers and interest from founders. The company uses fintech, legal tech, and artificial intelligence to automate the shutdown process in three stages: onboarding, dissolution & wind-up, and actual shutdown.

Key takeaways:

  • SimpleClosure, a startup founded by Dori Yona and Nimrod Ram, is developing a platform to automate the process of shutting down a company, which currently can cost up to $75,000 and take nearly a year.
  • The company raised $1.5 million in pre-seed funding in 24 hours without a pitch deck, with Vera Equity and Cambrian Ventures co-leading the round.
  • SimpleClosure uses fintech, legal tech, and AI to automate the shutdown process in three stages: onboarding, dissolution & wind-up, and actual shutdown.
  • The startup is currently working with startups and corporations and LLCs, but plans to expand to other segments as it grows. Since June, it has seen exponential growth in paying customers and interest from founders.
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