Empathy, a tech platform designed to aid bereaved families, has secured $72 million in Series C funds led by the investment firm Adams Street Partners.
Other participants in the round include General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude and LionTree, among others. This latest round brings Empathy’s total capital raised to $162 million.
In addition, the company has launched the Empathy Alliance, a coalition of experts who aim to reimagine culture standards around access to bereavement support. Members include Aflac Inc. (NYSE: AFL), Allianz, Citi, Munich Re, New York Life and other firms.
“We’re honored to support millions of families in their toughest times, and to have earned the trust of leading organizations, partnering with major financial institutions and some of the most progressive employers to deliver compassionate tech at scale,” said Ron Gura, co-founder and CEO of Empathy, in a statement. “We’re proud to be at the forefront of revolutionizing industry standards and societal expectations around loss, and this milestone is not just a testament to Empathy’s progress, but to the larger cultural shift that’s occurring.”
Empathy launched in 2021 with an app designed to help reduce the burden on grieving families and provide additional layers of emotional support.
The Empathy app is designed to help families navigate the logistical aspects of bereavement, including documentation, funeral or memorial arrangements, validating a will and other essentials. These tasks often require hundreds of hours and thousands of dollars, for which many families are unprepared.
The burden on grieving families is often severe. They can spend as many as 500 hours over as many as 13 months completing administrative tasks related to their loved one’s death, according to the Cost of Dying Report, published by Empathy. The average cost to the bereaved exceeds $12,000.
The company’s clients and partners include a number of hospice providers such as Compassus, one of the 10 largest hospice providers in the United States. Other clients include insurance companies like MetLife, as well as a range of employers offering the service as a benefit.
The infusion of capital from the Series C round will “further deepen capabilities, accelerate innovation, scale the platform offerings and expand reach,” according to a statement from Empathy.
“Empathy is addressing a critical need with a thoughtful, mission-driven approach to supporting families through life’s challenging moments,” said Tom Bremner, partner, growth equity at Adams Street, in the statement. “We’re excited to partner with the Empathy team and support the company’s continued growth as it expands access to essential resources through innovation and industry-leading partnerships.”