Empathy, a leading technology company transforming how the world plans for and manages life’s toughest moments, announced a $72 million Series C fundraise led by Adams Street Partners with participation from General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree, bringing total capital raised to $162 million.
Empathy Alliance: Along with this most recent round, the company has formalized the Empathy Alliance, a coalition of market leaders and luminaries passionate about reimagining cultural standards around access to support. And with a commitment to fund innovation that moves the industry forward, members of the Empathy Alliance who participated in the company’s Series C include Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, Munich Re, MetLife, New York Life, Securian, and TIAA Ventures.
This funding follows Empathy’s recent category expansion into legacy planning and preparation with Empathy LifeVault, broadening its platform to allow individuals to create and securely store legally binding estate plans and essential documents in minutes. Launched in 2021, Empathy’s leading loss support solution has alleviated logistical and emotional burdens for millions of people, including one in five life insurance claimants, through partnerships with renowned financial institutions and over 1,000 employers.
Momentum: With increased distribution over the past four years, Empathy provides coverage for over 45 million lives, and in the past four months, seven million individuals have received access to LifeVault through partners like Aflac, New York Life, Voya, etc, demonstrating the company’s rapid growth with thoughtful carriers and progressive employers, through its product ecosystem. And AI has become an integral part of Empathy’s platform, introduced to enhance the Care Team’s speed, accuracy, and reach through real-time insights, guidance, and automation. Even though AI plays a crucial role in providing support at scale, human care remains central to Empathy’s mission. Building on Empathy’s recent momentum, this investment will further deepen capabilities, accelerate innovation, scale the platform offerings, and expand reach.
Empathy is now available throughout North America, including every U.S. state and Canada, in partnership with leading firms, including eight of the top ten U.S. life insurers. And the company also supports comprehensive employee bereavement benefits for Fortune 500 companies. Empathy continues to raise awareness of societal attitudes around loss and to address the stigma around the conversation.
Driven by the momentum of recent growth and deep insight into what’s been demonstrated as a universal and apparent need, Empathy is committed to expanding its support ecosystem to encompass more modes of care that will open up access and support families during life’s most difficult moments.
KEY QUOTES:
“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. 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. Throughout life, we all will encounter moments that are financially, logistically, and emotionally taxing, and we see it as a privilege and responsibility to apply our expertise and direct meaningful resources toward tackling these challenges and raising the standard of support.”
Ron Gura, Co-Founder & CEO of Empathy
“Empathy is addressing a critical need with a thoughtful, mission-driven approach to supporting families through life’s challenging moments. 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.”
Tom Bremner, Partner, Growth Equity at Adams Street
