As some of you may have seen or heard, one of our co-founders, Justin Hunter, has decided to step away from the company. He did so selflessly and in the interest of the company, and as hard as it is for us to accept, it was the best path forward for SimpleID.
Running a very early-stage startup is hard, and fundraising for said startup is even harder. Both become exponentially more difficult when you factor in a pandemic. COVID-19 has fundamentally changed the way companies do business. It’s made investment teams reconsider their investment strategies. It’s flat-out made it harder to raise a seed round. As such, we expect it to take longer than we expected before SimpleID will be able to finish fundraising. That timeline, had Justin not stepped away, would have been much more difficult to keep the company afloat. His departure significantly extends our runway.
To be clear, nothing about Justin’s departure has anything to do with our feelings toward each other and the work we all did together. We have been and continue to be friends. We want to thank Justin for everything he did to make this company what it is. We can’t wait to see what he does next, and we can’t wait for you to see what we do next!