Empathy, an end-of-life startup based in New York, has raised $30 million in Series A funding to help families through the grieving process.
The round was led by Entrée Capital with participation from other investors like General Catalyst, LocalGlobe, Primetime Partners, and Aleph. The new funds bring the total funding raised by the startup to $43 million. Avi Eya, Managing Partner at Entrée Capital, referred to the firm’s decision to support the startup by saying:
“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.”
Founded earlier this year, Empathy has focused on its mission of helping families deal with the responsibilities and emotions that come with losing a loved one. It achieves this by providing a combination of emotional and logistical support during the grieving process via its app. The new capital will allow the startup to develop new products, develop new partnerships, and expand its team, all while also focusing on reaching new markets in the United States. Ron Gura, Co-Founder & CEO of Empathy, said about this approach:
“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. 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.”
The U.S end-of-life industry today is still underdeveloped despite experts projecting it to become a $100 billion market over the next five years, which has led to those going through the death of a loved one to suffer both physically and mentally. The end-of-life startup is looking to change this reality by meeting the increasing demand at a time when the line between technology and mental healthcare continues to dissipate.