Losing a loved one is painful and the pain of loss can be overwhelming. One can experience difficult and unexpected emotions, from shock or anger to disbelief, guilt, and profound sadness. A little help and support can come a long way in alleviating the agony of people who are mourning. Operating in this sensitive area is a US- and Israel-based startup, Empathy.
Empathy was created with one mission in mind: to help families deal with loss. With a combination of technology and human support, the Empathy app helps families deal with all the financial, legal, emotional, and logistical challenges associated with losing a loved one.
Empathy raises fresh funds
In a recent development, Empathy announced that it has raised $30M (approx €25.86M) in its Series A round of funding to provide digital companionship and empower bereaved families.
The company raised $13M (approx €11.2M) in its Seed round funding when launched in April 2021. Including the current round, the company has raised a total of $43M (approx €37M) to date.
The round was led by Entrée Capital with participation from General Catalyst and Aleph, who doubled down on their Seed investment. The round also saw investment from LocalGlobe, Primetime Partners, and Angel investors 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).
Capital utilisation
The proceeds from this round will help the company further expand its presence across the US by releasing new products, fostering additional strategic partnerships, and growing its team.
Empathy CEO & co-founder, Ron Gura says, “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.”
Gura further adds, “Thanks to the support from our new and existing investors, our 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.”
Pain point of the industry
According to a statement, the US end-of-life industry is projected to grow to nearly $100B in the next three to five years, including death care, estate management, and other services. Yet this industry remains outdated and fragmented. This leaves bereaved families to deal with hundreds of hours of logistics and responsibilities that are confusing, unintuitive, and emotionally draining.
Empathy’s app combines technology and human support to save families time, money, and stress. The app streamlines end-of-life logistics, minimises tedious tasks, and automates estate administration while providing emotional guidance along the way.
General Catalyst’s co-founder and MD Joel Cutler says, “Empathy has proven both its commitment and its determination to reach as many families as possible, partnering with companies across different sectors to connect with diverse audiences, as well as recruiting the best and the brightest to further their mission. We look forward to seeing Empathy continue to prove how technology can make a major difference for bereaved families.”
About Empathy
Launched in 2021 and headquartered in New York and Tel Aviv, Empathy was founded by Ron Gura and Yonatan Bergman. The company was created by a team of software developers, estate lawyers, designers, and grief experts who came together with the goal of helping families better cope with the many aspects of loss.
The company’s app simplifies and streamlines end-of-life bureaucracy with personalised plans and grief support. 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, the company announced a partnership with America’s 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.
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