Captain, a startup that aimed to quicken home repairs after natural disasters, is winding down.
The Louisville-based company had previously raised $107 million across venture and debt equity.
CartaMany early-stage startups such as Captain, which had raised $107 million across equity and debt capital, have struggled to raise new funding as a drought in venture capital spreads through Silicon Valley.
Liabilities pile upThe company relies on debt financing to pay contractors upfront for materials, supplies, and labor costs.
In his email, Gray said prospective buyers were aware of the outstanding liabilities and the sale price would be used to satisfy those liabilities, "with wages being the most paramount," he said.
Persons:
Demetrius Gray, Gray, Captain, Red Swan, Pete Flint, Flint, PATRICK T, FALLON, Talent, Melia Russell, Rob Price
Organizations:
quicken, Carta, TechCrunch, GGV, fintech, Munich Re, San Francisco Superior Court
Locations:
The Louisville, Silicon Valley, Carta, Louisville , Kentucky, NFX, CoVenture, Munich, Maui