Empathy, a support platform based in New York, aimed at assisting employees and life insurance beneficiaries coping with the loss of loved ones, has secured $47 million in Series B funding, with Index Ventures leading the investment.
The significance lies in addressing a common gap: while employers offer bereavement leave and life insurers provide settlements, neither directly address the emotional and practical challenges that accompany death.
Empathy, designed as both an employee benefit and a policyholder service, offers support in various aspects, including grief counseling, funeral arrangements, obituary composition, estate management, subscription terminations, and probate proceedings.
Among the investors participating in the funding round are General Catalyst, Entrée Capital, Latitude, Brewer Lane, Allianz, MassMutual Ventures, MetLife, New York Life Ventures, Securian Financial, and Sumitomo.
According to Danny Rimer, a partner at Index Ventures, “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.”
