In February 2024, equity management provider Carta announced ambitious plans to enter the startup winddown space with a new product named Carta Conclusions. By the end of the year, however, the company reversed course, discontinuing the offering entirely. Now, Carta is backing SimpleClosure, a startup positioning itself as the seamless solution for companies looking to shut down quickly and efficiently, and labeling itself the “TurboTax of shutting down.”
This move follows SimpleClosure’s announcement of a $15 million Series A fundraise, where Carta has joined as an investor. According to Amanda Taggart, a spokesperson for Carta, the strategic shift came after recognizing that partnering with a dedicated and specialized company such as SimpleClosure was more effective than continuing to develop an internal solution. As part of its partnership, Carta is offering its clients free initial consultations and a 10% discount when using SimpleClosure’s platform.
The concept behind SimpleClosure emerged from personal experience when founder Dori Yona had to perform a shutdown analysis for a previous startup. Finding the task frustratingly complicated and time-consuming, Yona saw an opportunity to streamline the process through dedicated software that simplifies and automates wind-down procedures. The idea quickly gained traction among founders, allowing SimpleClosure to surpass seven figures in annualized revenue by early 2024.
SimpleClosure previously raised a $1.5 million pre-seed round followed shortly by an additional $4 million investment. Including the newest Series A round, the startup has now secured a total of $20.5 million in funding. The latest round was led by TTV Capital, joined by returning investors Infinity Ventures, Anthemis, and Vera Equity. Besides Carta, new backers in the round included The LegalTech Fund and a number of undisclosed angel investors.
Yona highlighted the reality of startup life: approximately 90% of startups fail, yet shutting down a company is an overlooked aspect of entrepreneurship. SimpleClosure aims to be there whenever founders face that difficult moment, providing the proper tools to close businesses efficiently and responsibly. While he hopes startups never reach that stage, Yona emphasized the importance of having robust systems in place to handle closures when they arise.
The startup’s approach has resonated broadly in the marketplace, demonstrated by a significant growth trajectory—SimpleClosure increased revenue by a factor of twelve in 2024 alone.
