Wevorce raises USD1.7 million to help streamline divorce through technology
Wevorce announced today that it had received USD 1.7 million in new seed funding from investors such as Foundation Capital and Sam Altman. This brings the total amount raised by the startup to USD 2 milion. Wevorce was launched out of Y Combinator last March 2013.
The basics behind Wevorce is that in a typical divorce, each party is represented by lawyers, which can then lead to a sense of opposition that often ends up in court. With Wevorce, as a TechCrunch report explained, it allows couples work closely with legally-trained 'Divorce Architects' who help negotiate and design the legal, financial, and emotional structure in a cooperative way powered by Wevorce's software. The startup's software was aiming for the elimination of many of the expenses associated with the traditional path of divorces.
As to date, more than 100 divorces has been successfully handled by Wevorce and 99 percent of their cases were settled out of court. According to CEO Michelle Crosby, a typical divorce costs about USD 27,000 in average whilst clients on Wevorce would only shell out one-third of that.
Wevorce currently has 28 full-time staff members across 10 offices in the Western US. With that in mind, the newly injected funding will largely be used to help scale their structure across the US. There are also other interests overseas and Wevorce hoped that it can grow the service internationally as well.