Carta abandons startup shutdown business, instead backs SimpleClosure’s $15M Series A

In February of 2024, equity absorption startup Carta revealed that it was getting into the startup winddown business with a caller offering called Carta Conclusions.

By December, the institution had decided to “retire” that offering, according to a blog post.

And now, SimpleClosure, a startup that has described itself arsenic “the Turbo Tax of shutting down,” has announced that Carta is simply a caller capitalist successful its $15 cardinal Series A round.

Carta’s determination to displacement gears was driven by the realization that it “made much consciousness to put and spouse with a squad laser-focused connected solving this occupation alternatively than gathering in-house,” said Carta spokesperson Amanda Taggart. (It’s besides offering its customers a escaped consultation and a 10% discount connected SimpleClosure’s services.)

Dori Yona came up with the thought for SimpleClosure erstwhile gathering his past institution aft being tasked by a committee subordinate to make a “shutdown analysis.” The process was truthful complex, Yona felt compelled to physique a bundle exertion platform  to assistance automate and streamline the shutdown process. Demand initially was truthful large that the young startup had already crossed 7 figures successful annualized gross by February of 2024, according to Yona. 

At that time, SimpleClosure announced that it had raised $4 cardinal little than six months aft it raised $1.5 cardinal successful pre-seed funding. In total, it has raised $20.5 million.

TTV Capital led SimpleClosure’s $15 cardinal Series A, which besides included information from existing investors Infinity Ventures, Anthemis, and Vera Equity. Besides Carta, caller backers included The LegalTech Fund and a radical of unnamed angel investors.

“The world is that 90% of startups don’t marque it, and shutting down remains the unspoken but indispensable portion of entrepreneurship,” Yona said. “We anticipation companies ne'er request us, but if they do, we’re present to assistance them bash it the close way.”

In 2024, SimpleClosure saw its gross turn by 12x compared to the twelvemonth prior, according to Yona.