Insurtech platform Empathy has raised $72 mn in a Series C funding round led by Adams Street Partners, with additional participation from General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree.
The latest round brings the company’s total funding to $162 mn.
Alongside the investment, Empathy announced the launch of the Empathy Alliance, a coalition of insurers, financial firms, and institutional investors focused on improving bereavement and grief support services.
Founding members who also contributed to the funding include Aflac, Allianz, Citi, Munich Re, MetLife, New York Life, Securian, and TIAA.
Empathy’s platform offers digital tools to support families through emotional and administrative burdens after a loss.
The company recently introduced Empathy LifeVault, a solution for creating and storing legally valid estate documents.
This complements its existing support services, which are used by more than 1,000 employers and a growing number of financial institutions.
Since its launch in 2021, Empathy has expanded rapidly, now covering close to 50 mn individuals across the U.S. and Canada.
In the past four months alone, 7 mn people gained access to LifeVault through partnerships with Aflac, New York Life, and Voya. Empathy reports that one in five U.S. life insurance claimants now use its services.
The company incorporates artificial intelligence to support its Care Team with real-time insights and automation. Despite this, Empathy maintains a focus on direct human support as a core part of its service model.
Ron Gura, Empathy’s Co-Founder and CEO, described the funding and alliance as a reflection of growing awareness around grief care. He said the company remains committed to improving standards of support during loss.
Tom Bremner, Partner at Adams Street Partners, stated that Empathy addresses a vital need with a service-oriented approach, noting the firm’s confidence in Empathy’s continued growth.
We’re honored to support millions of families in their toughest times and to have earned the trust of leading organizations
Ron Gura, Co-Founder and CEO of Empathy
“This milestone is not just a testament to our progress—it reflects a broader cultural shift in how we think about and support those navigating loss. We see it as both a privilege and responsibility to keep raising the standard of care.”
Empathy now works with eight of the top ten U.S. life insurers and several Fortune 500 companies. It also continues to contribute to public dialogue on grief, most recently through its fourth Grief Tax Report, which analyzes the financial and emotional costs of bereavement.
The new funding and partnerships are intended to further scale its services and improve access to end-of-life and loss-related support.
