SimpleClosure, an Israeli startup that offers an equity compliance platform for the shutdown procedures when the time comes to close a failed business, raised $4 million in seed funding led by Infinity Ventures just months after the company held its pre-seed round.
No one wants to think about failure. No one wants to have to deal with shutting down their company. But, however unfortunate this may be, most startups fail and there is a great deal of work to be done liquidating assets and dealing with creditors, etc. Someone has to do it and it is not easy. You cannot simply leave the keys in the mailbox.
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The good news for a startup like SimpleClosure is there will always be a need for such services.
Since launch, SimpleClosure has increased its revenue more than 14x and customer base by more than 6x.
Equity compliance platforms are software solutions that help companies manage the complexities of issuing and managing stock options or other equity-based compensation to employees, especially across multiple countries. They automate many time-consuming tasks related to equity grants and streamline the process, centralizing data and compliance requirements. These platforms keep track of the ever-changing regulatory and tax laws across different jurisdictions, ensuring your company always remains compliant.
Founded in 2023, SimpleClosure is a venture-backed startup working on using technology to simplify the complex task of shutting down a business. “Tailor-made for startups: bootstrapped and venture-backed companies,” it handles all closure-related tasks.
The majority of SimpleClosure customers, which range from bootstrapped businesses to well-funded startups, have moved on to building a new company. Leveraging fintech, AI and legal technology innovation to execute on company-specific dissolution and closure plans, SimpleClosure resolves any remaining obligations with customers, state agencies, and team members on behalf of the dissolving business.
“It’s exciting to see how fully SimpleClosure’s mission — to automate and streamline the painful and bureaucratic dissolution and wind-down process — has resonated across stakeholders, from lawyers and accountants to founder and investors,” says Dori Yona, SimpleClosure’s founder and CEO. “With the rate of business closures accelerating, the latest funds came preempted, receiving multiple term sheets in a week. We’re excited to create products and services that help founders quickly move on to their next project, without the emotional, financial, and legal headaches that far too often accompany the dissolution process.”
