San Mateo, California-based startup Wevorce, which aims to make divorce less painful by making the process simpler, has received $1.7 million in seed funding.
Investors that showed interest in Wevorce's business model, include Foundation Capital and Sam Altman.
With this seed funding, the total investment in Wevorce has reached to $2 million since its inception in March 2013.
Here's how Wevorce helps in making divorce less of a nightmare.
Typically, during a divorce proceeding, each spouse is represented by his/her lawyer. However, with Wevorce, the spouses work together with "Divorce Achitects". Divorce architects are the people with law background who have been trained by Wevorce to handle divorce cases. They help the spouses in navigating through the legal, emotional and financial aspects of divorce.
The entire process is powered by Wevorce's unique software whose primary job is to sort out the hurdles and minimize the costs that are associated with traditional divorces.
At the time of writing this story, Wevorce has handled around 100 divorces and 99 percent of them have been settlde out of court. In terms of cost, the expense of divorce through Wevorce is just $9,000, compared to $27,000-plus in traditional divorces.
The funds raised will be used for further expansion of the company. At present, Wevorce has 10 offices and 28 full-time employees.
"We have been inundated with mediators who are intrigued by our take on amicable divorce and want to get involved," said company founder and CEO Michelle Crosby. "We are training them as quickly as possible, so that we can bring this model to more areas of the U.S."