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LayerVault

Allowed users to store and collaborate on design work
Startup Cemetery
GENERAL INFORMATION
Category:
Design
Country:
United States
Started:
2011
BUSINESS FAILURE
Outcome:
Shut Down
Cause:
Lack of Funds
Closed:
2014
FOUNDERS & EMPLOYEES
Number of Founders:
2
Name of Founders:
Allan Grinshtein, Kelly Sutton
Number of Employees:
10-50
FUNDING
Number of Funding Rounds:
1
Total Funding Amount:
$535K
Number of Investors:
3

What was LayerVault?

LayerVault's idea was to build a high-growth business in the design industry. The app helped you store, track, review, and deliver design work. The platform also gave its subscribers unlimited file storage and real-time updates and it had a companion iOS app. It built some good technology that explored new ideas and addressed a common need (pain) in the design community.

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Why did LayerVault fail and shut down?

According to Kelly Sutton, LayerVault's CEO, the company was facing financial challenges. As a result, they exhausted their existing capital reserves and were unable to secure additional capital to sustain their services. The success of any business lies in its bottom line. LayerVault had many happy customers who routinely used the service and the way it integrated with other platforms, but it failed to build enough traction and become the go-to destination for version control.

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