Investors back tech that makes death a little easier
An app-based technology that helps the bereaved deal with loss is getting lots of new life thanks to an infusion of investment. Empathy recently closed a $30M Series A in its bid to transform the end-of-life industry using twenty-first century efficiency.
"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 & 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."
Earlier this year Gura told us that one reason death becomes a logistical nightmare is that it makes people uncomfortable and they put off thinking about the death of a loved one. But a larger problem is that planning for death is disjointed and encumbered by complex logistics that most people aren't familiar with. It's a bit like the notorious nightmare of planning a wedding, except that it's mired in much more complex legal and financial considerations, to say nothing of an awful lot sadder.
That makes the sector ripe for innovation (and it's no coincidence a similar set of transformations have been afoot in the wedding sector). According to Empathy, the US 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's app combines technology and human support to streamline end-of-life logistics, minimize tedious tasks, and automate estate administration. There's also a big emphasis on emotional guidance along the way.
"We are proud to continue to support Empathy as it strengthens its position as a market leader in the end-of-life industry and provides a service that is incredibly necessary for families struggling with loss," said Joel Cutler, Co-Founder and Managing Director at General Catalyst. "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."
The funding will be used to further expand Empathy's presence across the US. Empathy has raised a total of $43M in the last year.