Israeli grief help firm Empathy in the present day introduced the completion of a $47 million Sequence B financing spherical led by Index Ventures with participation from Normal Catalyst, Entrée Capital, Latitude, and Brewer Lane, in addition to strategic investments from six main life insurance coverage corporations – Allianz, MassMutual Ventures, MetLife, New York Life Ventures, Securian Monetary, and Sumitomo. These newest funds convey the entire quantity raised by Empathy to $90 million.
With places of work in Tel Aviv and New York, Empathy was based in 2020 by CEO Ron Gura and CTO Yonatan Bergman.
Gura mentioned, “Coping with the lack of a cherished one is one in every of life’s most difficult moments, but there was a problematic hole within the conventional help programs and advantages that hardly touches on what households want. Empathy continues to set new requirements for supporting households via grief and loss. We’re honored to offer assist in a sustainable, scalable manner by working with employers and insurance coverage carriers to change into the brand new customary for contemporary advantages. Embracing empathy within the office is nice for households, good for enterprise, and good for our society as an entire.”
Prior to now three years, Empathy has made a full vary of help with grief, property settlement, probate and extra out there to 5 million workers and 35 million policyholders within the US. This help comes without charge to households, offered both via their life insurance coverage advantages or coupled with bereavement go away via an employer. Empathy will use the most recent funding to increase its companies and canopy new industries and areas nationwide.
Gura added, “Our objective just isn’t solely to help and advocate for households going via bereavement, however to shift the way in which everybody thinks of and approaches loss. Bringing loss and grief out of the shadows and giving it its rightful place as an necessary and regular a part of life is significant. Our Sequence B is a crucial step on our path towards paying the eye and care it deserves and giving each bereaved household in every single place the help they want.”
The strategic funding from six of the world’s largest life insurance coverage corporations is a robust sign that the trade sees this cultural shift towards an emphasis on exhibiting up for individuals after they want it probably the most. Empathy is on the forefront of the transformation within the insurance coverage trade that emphasizes bettering the person expertise and including worth for beneficiaries and companies, whereas additionally exhibiting true care and compassion for households.
Printed by Globes, Israel enterprise information – en.globes.co.il – on March 12, 2024.
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