29.July.21 – California-based Online Divorce startup, Hello Divorce developed a platform for making the divorce process more affordable and quicker, announced that it raised USD 2 Million in a Seed funding round.
This funding round was led by CEAS, with the participation of Northwestern Mutual Future Ventures, Lightbank, Gaingels including some individuals like CEO of Jack Newton, Clio; Lisa Stone from WRG and Equity ESQ led by Ed Diab.
With this latest funding, Hello Divorce aims to scale legal filing options at a rapid pace across the country, improving its product and providing clients more services and content they need to get fully informed regarding the divorce process.
Words from investors –
Lightbank’s Eric Ong brings to the table, saying “it is clear what I do know and what I don’t know.”
“They are a combination of industry expertise and thinking outside of the box,” he said. “Eighty percent of people are still not getting meaningful representation, and we looked for technology that would provide a customer value proposition and we didn’t find one until Hello Divorce.”
About Hello Divorce –
Hello Divorce was conceived by Erin Levine, a family law attorney in 2018, so that couples can get “affordable meaningful legal counsel” and have a clear and easier part to get a divorce.
Statistically, in the US 750,000 divorces happen every year and the average cost it takes is somewhat around USD 8,400 to USD 17,500, Overall the annual revenue of the divorce industry is USD 50 Billion.
According to Erin Levine, “Right now, lawyers are the keeper of information, and clients keep paying until the divorce is done, Divorce is more than forms. It is a challenging time, and most people need or want support. I saw a big hole there to use technology and fixed fees to put couples in the driver’s seat and takedown that level of conflict.”
Since it was founded, Hello Divorce has scaled 100% year over year, with a 95% rate of divorce success. Over these years it has received more than 2000 inquiries regarding sheltering in the same place with the one from whom they have to take divorce and co-parenting in the time of lockdown.
“The inquiries increased about staying or going, and what divorce will look like,” Levine said. “It will be a while before we see the total effects of what divorce looks like following the pandemic.”
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