Israeli startup Empathy, a platform that helps families navigate the difficult journey after losing a loved one, announced on Thursday that it has raised USD 30 million in a Series A funding round.
The round was led by venture capital firm Entrée Capital, with participation from General Catalyst and Aleph, which doubled down on their seed investment, along with LocalGlobe, Primetime Partners, and prominent angel investors including Shai Wininger (CEO and co-founder of Lemonade), Sir Ronald Cohen, John Kim (former president of New York Life), and Micha Kaufman (CEO and co-founder of Fiverr).
Empathy has raised a total of USD 43 million to date in the last year.
The funding will be used to further expand Empathy’s presence across the US by releasing new products, fostering additional strategic partnerships, and growing its multidisciplinary team to achieve its mission to empower bereaved families to handle all the responsibilities and emotions that come with loss, the company said.
Headquartered in New York and Tel Aviv, Empathy provides a new financial technology application and emotional guide that aims to address a set of opposite needs that fall upon the bereaved: managing a maze of bureaucracy and coping emotionally with the pain of loss. The company launched in April 2021 with USD 13 million in seed funding.
“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 recently said the company has established 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.
“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.”
“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.
Read this: Israeli startup Empathy is on a mission to support bereaved families with tech
The article was originally published by NoCamels, a leading news website covering breakthrough innovation from Israel for a global audience.