Hello Divorce Closes $3.25M in Oversubscribed Seed Round to Disrupt the Broken Divorce Process
Hello Divorce, the leading legal fintech platform for affordable, less-stressful divorces, today announced a seed investment of $3.25 million led by The Artemis Fund, which invests in female founders that are modernizing and diversifying wealth. The round includes capital from existing pre-seed investors Lightbank, Northwestern Mutual Future Ventures, Gaingels, CEAS Investments and Jack Newton, the CEO and Co-Founder of Clio, and new investors CMFG Ventures Discovery Fund, Pitbull Ventures, Chaos Ventures, and Sand Hill Angels. With this round of funding, Hello Divorce will develop its modular platform to scale to a broader range of customers and innovate tech in key areas of opportunity in the family law space to solve problems throughout the lifecycle of divorce.
"Divorce is a transformational life experience and a significant financial event that has long been overlooked by innovation and often disadvantages women," said Leslie Goldman, General Partner at The Artemis Fund. "At its core, Hello Divorce allows people to take better care of themselves and their families during and after a divorce, regardless of income. We led this round because we have high conviction in the unique experience and skill set of this team to build the precise tools needed to minimize the financial and emotional impact of divorce at scale."
Founded by family law attorney Erin Levine, Hello Divorce provides a proprietary platform that allows customers to complete the divorce process exclusively online, complemented by self-service tools, extensive legal and financial resources, and integrated expert help from financial advisors, mediators, and lawyers when needed. With Hello Divorce, customers largely avoid the confusing court system altogether, and benefit by spending one-tenth the cost of the average divorce and completing the process in a third of the time, which gives families more time to regroup and thrive.
"In this time of economic uncertainty and increased financial stressors, it's more imperative than ever that Americans have the opportunity to reorganize their lives without all the stress and mess – especially when divorce is the right choice for themselves and their family," Levine said. "Most people can't afford lawyers, and yet, negotiating the legal system is almost impossible to do on your own. With this funding, we will expand access to an easier, kinder, and less expensive pathway to divorce – one that's rooted in fairness."
Since its inception in 2018, Hello Divorce's revenue has grown 100 percent year over year, with record growth in the third quarter of 2022. The complete divorce tech platform is live in California, Colorado, New York, Texas, and Utah, with other key states on the way. Since the company's last raise, the executive management team has added key leaders in product development and digital innovation to leverage the company's financial and demographic data, building tools and partnerships to help customers with key challenges beyond the divorce itself that arise throughout the divorce lifecycle.
Almost 90 percent of Hello Divorce's customers stay engaged with the company after their divorces, using the company's deep resources as a bridge to financial independence and emotional well-being. "We're excited to not only build on our existing platform for the 2 million people who get divorced each year, but to curate an experience that provides a lifeline to the 28 million Americans who are transitioning out of their marriage and into a better next chapter," Levine said.