Summary Points
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Carta’s Shift: In February 2024, Carta launched a startup winddown service called Carta Conclusions but retired it by December, opting to invest in SimpleClosure instead.
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SimpleClosure’s Growth: Founded by Dori Yona, SimpleClosure has rapidly gained traction, generating over seven figures in annual revenue within a year and securing $20.5 million in funding.
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Investor Support: TTV Capital led SimpleClosure’s $15 million Series A round, with participation from Carta and existing investors, emphasizing the importance of efficient startup closures.
- Entrepreneurial Reality: Yona highlights that 90% of startups fail, emphasizing the need for supportive solutions like SimpleClosure to handle the shutdown process effectively.
Carta’s Shift from Startup Winddowns
In February 2024, Carta announced its entry into the startup winddown business with its new offering, Carta Conclusions. This move aimed to support startups facing closure. However, by December, Carta decided to “retire” this initiative. A significant factor influenced its decision; Carta recognized that investing in established solutions was more practical than developing an in-house offering. Amanda Taggart, a spokesperson for Carta, emphasized this point, noting the company’s commitment to partnering with experts in the field.
This pivot allows Carta to provide extra value to its clients. They now offer a free consultation and a discount on SimpleClosure’s services. The shift highlights Carta’s focus on practical, efficient solutions in an ecosystem where many startups inevitably face challenges.
SimpleClosure’s Promising Future
In contrast, SimpleClosure is on a promising trajectory. Founded by Dori Yona, the company aims to simplify the shutdown process for startups. Yona’s experience in needing a “shutdown analysis” for a previous venture spurred the creation of a software platform. Since its inception, SimpleClosure has seen exceptional growth, achieving seven figures in annual revenue by early 2024.
With its recent $15 million Series A funding led by TTV Capital, SimpleClosure is gaining momentum. Its successful funding rounds reflect a clear market need. Yona’s vision acknowledges a difficult reality: 90% of startups fail. However, SimpleClosure aims to make this process smoother. By streamlining shutdowns, the company contributes to a more humane entrepreneurial journey. Many hope to avoid closure, but when necessary, SimpleClosure stands ready to assist.
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