Carta Invests in SimpleClosure's $15M Series A, Exiting Startup Shutdown Market
Equity management platform Carta has invested in SimpleClosure's $15 million Series A round. This move follows Carta's decision to discontinue its own startup shutdown service, Carta Conclusions, launched earlier this year.
Carta spokesperson Amanda Taggart explained the shift, stating that partnering with a dedicated team like SimpleClosure made more sense than developing an in-house solution. Carta now offers its customers a free consultation and a 10% discount on SimpleClosure's services.
SimpleClosure Simplifies Startup Shutdown
SimpleClosure, often referred to as the "TurboTax of shutting down," automates and streamlines the complex startup wind-down process. Founded by Dori Yona, the company saw significant early demand, exceeding seven figures in annualized revenue by February 2024.
This Series A funding, led by TTV Capital, brings SimpleClosure's total funding to $20.5 million. Existing investors Infinity Ventures, Anthemis, and Vera Equity also participated, along with new investors The LegalTech Fund and several angel investors.
“The reality is that 90% of startups don't make it, and shutting down remains the unspoken but necessary part of entrepreneurship," said Yona. "We hope companies never need us, but if they do, we're here to help them do it the right way.”
SimpleClosure reported a 12x revenue growth in 2024 compared to the previous year. This investment from Carta further solidifies SimpleClosure's position in the market for assisting startups with a smooth and efficient shutdown process.
