…I don’t think so.
Wevorce, with ten offices in California, Washington state and Idaho, announced a second round of funding of $1.7 million from the venture capital world. Click here for the TechCrunch interview.
The company claims that their program addresses the emotional, financial as well as legal aspects of a split and the creation of two households at the same it saves more than half of the average cost of $27,000 of a U.S.
Wevorce, according to Founder and CEO Michelle Crosby, plans to double its size each quarter: from a busienss perspective, that’s not hard to do and may be one reason that the venture world has given them some capital to work with. Most of the costs of expansion don’t really involve much technology that they’re developing but generally involve more advertising.
What technology do they employ? Family planning, custody tools software like Our Family Wizard? In a TechCrunch interview, Crosby could not be pinned down to talk about the “technology” they’re using. Unless you’d call some “wraparound” services a “technology” like their claim to use Certified Divorce Financial Analysts (CDFA) in their “program.”
The growing community of collaborative attorneys do almost exactly the same thing that Crosby offers: they have Financial Planners to help with the money stuff and budgeting; therapists to help with the emotional piece for the individuals and for the family.
I am obviously not a venture funder but I’m having a hard time seeing that the valuation of Wevorce could be more than $10million right now, given the $1.7MM funding: I don’t see that much that’s proprietary or special. Instead of “show me the money,” I’d rather say “show me the technology.”