As a company grows, metrics like revenue, runway, and funding rounds can start to define its narrative. We track these benchmarks closely at Empathy, and we’re proud of how we’ve performed. But numbers alone have never told our whole story.
Today we announce Empathy’s $72 million Series C funding round. This new investment, which brings our total capital raised to $162 million, is not simply a financial milestone: It’s a launchpad. The funding will help us reach more families, push the limits of innovation, and keep redefining what tech-enabled care can do.
The round was led by Adams Street Partners, with participation from both longtime investors and new backers, including General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree. Also included were members of the Empathy Alliance, a global coalition consisting of Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, MassMutual Ventures, Munich Re Ventures, MetLife Next Gen Ventures, New York Life Ventures, Securian Ventures, Sumitomo Ventures, and TIAA Ventures, all leaders in the insurance and wealth spaces seeking to advance the future of compassionate technology.
It is not uncommon for strategic investors to participate in a startup’s late-stage funding rounds, especially when they have a unique perspective on the company and understand the value of having a stake in its success. However, it is truly unprecedented for ten highly respected institutions—some of which are centuries old, and most considered one another’s direct competitors—to come together to invest in a startup. This reflects a huge vote of confidence in our work so far and in our vision for the future, and for that I am very grateful.
Building Momentum: How We Got Here
Looking back on these past few years, I am struck by how far we have come in such a short time. Two years after launching our flagship Loss Support offering, we had two million families covered through all the challenges of loss. Fast forward to the launch of our digital legacy planning solution, LifeVault, and it only took two months before we were giving two million individuals access to everything they need to create a comprehensive and secure estate plan. As of this announcement, we have the privilege of covering over 45 million lives across North America, a testament to how comprehensively we have addressed a very real need in the market.
Operating at the intersection of insurance, legacy planning, and tech-enabled care, Empathy is uniquely positioned to harness innovation and deliver personalized support to families when they need it most. From the get-go, we have prioritized human support that scales. As AI continues to unlock further efficiencies, we continue to elevate the way we deliver care, doubling down on our commitment to meet families where they are with both nuance and breadth.
At a time of aging populations, and amid a caregiving crisis exacerbated by overall economic challenges, this has become more urgent than ever. On top of the current decade’s economic turbulence, we are also in the midst of the greatest transfer of wealth in history— in the U.S. alone, as much as $84 trillion is expected to change hands by 2048, primarily from baby boomers to younger generations. Viewed through this lens, a commitment to supporting families and building relationships should be seen as a crucial investment in generational loyalty.
This is particularly profound for the life insurance industry (itself the facilitator of much of the wealth transfer), whose carriers have long provided families with financial protection—some of them for over a century. It’s this synergy that made Empathy’s support become quickly ubiquitous in the industry: Today, through our partnerships with 8 of the 10 top life insurance carriers in the U.S., we cover 1 in 5 insurance claimants in the U.S. and Canada, establishing a new standard of care for policyholders and beneficiaries and creating relationships that go beyond the payout.
The dividends of showing up for individuals and families transcend business sectors as well. After providing Empathy’s services as employee benefits, our employer partners are seeing remarkable results, with strong NPS scores that reflect improved engagement, productivity, and retention. By offering this level of support for their workforces, employers display a growing recognition that grief doesn’t clock out when employees clock in. This represents a profound shift in cultural expectations and norms around loss, and we are committed to leading in this moment.
Scaling with Intention: What's Next
Our Series C will allow us to carry our transformative vision even further, bringing our platform to new languages and new markets, and expanding access to more people of all backgrounds. Leveraging our expertise and experience, we’re continually developing new care-centered products that balance innovative technologies with emotionally informed user experiences. And we are always growing, seeking out brilliant and compassionate new team members who understand that support for life’s pivotal moments must be as human as it is practical.
There’s so much more to do. Life’s challenges may be universal, but they are unpredictable. They don’t follow a roadmap—and neither does building something truly new. But we know we haven’t been walking this road alone. To our employees, our partners, and most of all, the individuals we serve: You are the reason we do this. Every feature, every late night, every line of code is for you.
Thank you to our investors for seeing the opportunity not just for growth, but for good. Thank you to our team for their relentless courage, care, and of course, empathy. And thank you to all of you who have trusted us in your most vulnerable moments. We carry your stories with us, always.
Onward,
Ron