How SimpleClosure facilitated a smoother asset acquisition and transition for this Startup while also alleviating an emotional toll
Customer Story
Climate Tech
Industry
$2M+
Raised
2021
Established
$2M+
Raised
Climate Tech
Industry
2021
Established
Meet the Company
A SaaS platform dedicated to empowering consumer brands in producing low carbon products and crafting genuine sustainability narratives. Company’s goal was to lead the decarbonization charge within the consumer goods industry, addressing three of the top ten carbon-emitting supply chains globally. Trusted by renowned brands such as Glossier, Summer Fridays, and Ritual, the platform enabled their customers to achieve remarkable waste and carbon reduction by over 70%, while also transparently communicating their efforts to consumers.
“To my surprise, I discovered I would need to handle the entire dissolution and wind-up following our company's asset sale. Thankfully, SimpleClosure proved instrumental in guiding me through this intricate process, allowing me to concentrate on the asset sale. Their support and accompanying empathy was invaluable.”
Anisha Gupta, Bluebird Climate
The Challenge
In the aftermath of an asset sale, the founders were confronted with the unexpected reality that the company's acquisition did not exempt them from the standard wind-up and dissolution procedures. While some of the legal aspects of the acquisition were managed by lawyers, ultimately the founders were left grappling with the complexities of entity dissolution and liquidation. Finding resources and trying to navigate this process proved difficult. To make matters worse, after speaking with peers who had utilized big law firms during their own shutdowns, the founders realized they could be facing a huge cost from high billable rates. SimpleClosure’s product allowed them the flexibility of being conservative with remaining capital they had, while not sacrificing quality.
The Solution
The project management features of SimpleClosure’s platform were instrumental in offering a clear roadmap through numerous workstreams and steps. Their webapp's dynamic schedule, modifiable by both the SC team and the company, created a centralized hub for information, fostering seamless collaboration. SimpleClosure’s ability to answer with quick and concise information spared the founders from the exhaustive process of googling and navigating lengthy calls with state agencies, allowing them to concentrate on the asset acquisition and transition. What was sure to be an emotionally draining process turned into a collaborative experience, being able to lean on SimpleClosure for the heavy lifting not only eased the burden but also provided a sense of empathy and understanding.
The Outcome
Even though the company was surprised by the process as a whole, including additional state agencies they were unaware of, SimpleClosure efficiently managed these increased tasks. Further as early adopters of SimpleClosure’s platform, their real-time feedback was not only taken seriously but contributed to the platform's evolution. SimpleClosure’s comprehensive support and responsiveness not only facilitated a smoother asset acquisition and transition but also alleviated the emotional toll, allowing the founders to ensure the acquisition was finalized and that they could move on to the next chapter of their professional journey with confidence.
Read More Stories
ZenBill
FinTech
How SimpleClosure not only allowed ZenBill’s founder a prompt move to his next venture but also ensured investor satisfaction and care
Continue AI
Sustainability
How SimpleClosure helped Continue AI seamlessly wrap up their shutdown and distribute capital back to investors