The Smart, Affordable Solution for Closing Your Business

SimpleClosure is the easiest and most trustworthy way to shut down a company. Every year in the US, roughly 1M businesses shut down. The process of shutting down is painful, bureaucratic and opaque. At SimpleClosure, we are building a technology platform to help streamline and automate the process. By doing so, we are 85% less expensive than a traditional shutdown and get it done 5x faster.

Why did you start SimpleClosure?

The thesis stems from a deeply personal experience. As a founder, I faced the daunting task of shutting down a company, only to realize there were no clear, reliable resources or services to guide me through the process. The legal and financial professionals I had relied on didn’t specialize in shutdowns, and the founders in my network rarely discussed their failures, making it nearly impossible to get useful advice. 

What stood out to me was how isolating and frustrating the process was, despite the fact that the majority of startups eventually fail. Shutting down shouldn't feel like walking through uncharted territory when it’s such a common outcome. Founders need a solution that’s transparent, simple, and trustworthy.

We address this gap in the market by offering a streamlined, end-to-end service for winding down a startup. We provide founders with the peace of mind that the shutdown is being handled properly, freeing them to move forward with confidence. Given that around 93% of startups will close their doors, it’s a huge opportunity to build something that helps founders transition smoothly and efficiently when things don’t go as planned.

Who is using SimpleClosure and what are the benefits they are getting?

Most of our customers fall into three main categories:

1. Companies that have gone through an asset sale.
2. Companies that have run out of cash.
3. Companies that still have cash but have decided to cease operations and return funds to investors.

SimpleClosure provides significant benefits compared to traditional shutdown options. Our service is faster, more cost-effective, and highly accurate due to our use of technology. Specifically:

• We’re up to 85% less expensive than traditional shutdown services.
• The process is 5x quicker, allowing founders to move on swiftly.
• Our technology ensures every aspect of the shutdown is handled correctly, from legal compliance to investor communications.

For example, Continue AI, a sustainability-focused startup, was faced with a complex shutdown. SimpleClosure managed the entire process, including legal paperwork and the sensitive task of returning funds to investors. By taking care of all the details, we enabled the founders to maintain positive relationships with investors and transition smoothly to their next ventures.

“SimpleClosure was a lifeline during one of the most challenging times in our journey. Their attention to detail and constant support allowed us to focus on maintaining relationships with investors while confidently moving forward to new opportunities. They transformed what felt like an overwhelming burden into a manageable experience.” - Continue AI

What has been the biggest surprise or learning to-date that you didn't anticipate?

One of the biggest surprises I didn’t anticipate is how many founders are ready to jump back into building their next company after shutting down their previous one. I’ve been amazed by the sheer resilience and willpower entrepreneurs have after going through such a long and emotional journey. In fact, we see that around 65%-70% of founders we work with decide to start their next venture almost immediately after the shutdown. It's inspiring to witness how quickly they refocus and channel their energy into something new, driven by their passion for creating and innovating, even after facing challenges.

How have your investors been the most helpful?

Their belief and support in our mission have been unwavering. They understand the importance of what we’re building at SimpleClosure. I also appreciate how they’ve challenged our thinking in ways that have strengthened our strategy. By asking tough questions and offering different perspectives, they’ve helped us refine our approach and think more critically about our decisions. Lastly, they’ve been instrumental in making introductions to our earliest customers and partners. These introductions are priceless.

What's in store for the future of SimpleClosure?

The future of SimpleClosure is exciting, and we’re just scratching the surface. With roughly 1 million U.S. companies shutting down each year, we’re creating a completely new category. No one has tackled this problem before, and the opportunity is so vast it’s impossible to define a TAM. This is an untapped market, and we’re positioned to lead it by solving critical issues for founders. There’s so much left to address, and we’re just getting started!