Mar 12, 2024 - Business

Startup raises $47 million to help bereaved family members

Illustration of a gravestone shaped like a cursor

Illustration: Sarah Grillo/Axios

Empathy, a New York-based support platform for employees and life insurance beneficiaries who've lost loved ones, raised $47 million in Series B funding led by Index Ventures.

Why it matters: Employers often provide bereavement leave and life insurers pay settlements, but neither assist with death's emotional and logistical hardships.

  • Empathy, which works as an employee or policyholder benefit, provides help in areas like grief counseling, funeral planning, obituary writing, estate settlement, subscription cancellations, and probate.

Other investors include General Catalyst, Entrée Capital, Latitude, Brewer Lane, Allianz, MassMutual Ventures, MetLife, New York Life Ventures, Securian Financial, and Sumitomo.

What they're saying: "There are so many opportunities to really help someone who is grieving, beyond just giving them a lump sum of money and telling them to carry on" says Danny Rimer, a partner with Index Ventures.

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