Empathy, a platform helping families navigate the journey they face after losing a loved one, announced on Thursday that it has raised $30 million in Series A funding. The round, which came six months after a $13 million Seed round, was led by Entrée Capital, with participation from General Catalyst, and Aleph, who doubled down on their seed investment, as well as LocalGlobe, Primetime Partners, and prominent angel investors including Shai Wininger (CEO & Co-Founder of Lemonade), Sir Ronald Cohen, John Kim (ex-President of New York Life), and Micha Kaufman (CEO & Co-Founder of Fiverr).
Empathy said it plans to use the funding to further expand its presence across the U.S. in which the end-of-life industry is projected to grow to approximately $100 billion in the next three to five years, including death care, estate management, and other services.
“Empathy is a customer-centric company with compassion at our core. We aim not only to help families who are dealing with loss but also to act as a catalyst for change in the industry at large,” said Ron Gura, Co-Founder and CEO of Empathy. “Thanks to the support from our new and existing investors, and our partnerships with trailblazing companies leading their respective industries, software is finally being leveraged to make a significant difference for families struggling with loss. We are humbled to hear from the bereaved families we’ve helped already, and are determined to continue working to help as many as we can in alleviating both the logistical and emotional burdens of a loved one’s passing.”
Empathy’s app combines technology and human support to save families time, money, and stress. The app streamlines end-of-life logistics, minimizes tedious tasks, and automates estate administration, while providing emotional guidance along the way.
“Empathy’s product is uniquely disruptive and a category-defining solution dealing with loss. Its holistic approach sets it apart, and this, together with its growth, drew our attention to the company. We look forward to working with Empathy’s founders and team as they grow by providing this much-needed solution to millions of people worldwide,” said Avi Eyal, Managing Partner of Entrée Capital.
Empathy is working with leading enterprise brands in several industries, including insurance companies, hospice chains, and funeral homes to expand its reach through strategic partnerships. Most recently, Empathy announced a partnership with America’s largest mutual life insurance company, New York Life, to expand the life insurance offering beyond financial peace of mind and include logistical and emotional support to families as well.
“Empathy is proving that "values create value" and is building a lasting business for the 21st century,” said Michael Eisenberg, Co-Founder and Equal Partner at Aleph. “Empathy treats you like a human being, removing the hassle through automation and slightly but consistently dulling the pain of loss through grief support. Any business that touches next of kin - from life insurance to hospice, funeral directors to bereavement counselors - will find Empathy's solution a perfect fit for their customers and will enable them to lead with values."