What the Startup App Does and Financial Investments
Empathy is a startup app that consolidates the process of bereavement planning into one place. The goal of the startup company is to make the bereavement process as painless as possible, so that the family involved can get back to mourning their loved one.
Investors love the idea. The startup company and its app have secured $13 million in seed funding from venture capital firms General Catalyst and Aleph recently, handing another accomplishment to an app startup company that is serving a relevant need and is quickly growing.
What the Business Leaders Have to Say About Empathy
Ron Gura, co-founder and CEO of Empathy, said his startup app company serves an important need, one that can sometimes be difficult to talk about.
"It's the inherent optimism of human nature that causes us to avoid talking about death," the Empathy CEO said. "But because we don't discuss it, we miss out on important opportunities to innovate and provide families with technology that can help them manage some of life's most challenging moments -- and this leaves families overwhelmed and underserved.”
The Value of the End of Life Industry
Joel Cutler, co-founder and managing director at General Catalyst, said modernization in the bereavement industry was long overdue. He said that the app startup company was serving an untapped need.
“The end-of-life industry is a large sector that has been untouched by the wave of digital transformation occurring in every other industry,” the business owner said. “Empathy is unique in that it addresses both the emotional and logistical anguish of loss.”
The United States (US) death care business is estimated to grow to a total value of $68 billion by 2023 and is anticipated to continue growing at a compounded annual rate of over 4% in the next two years. That means that Empathy’s business is able to serve many who are going through loss.
Startup Company Relevance and Future of the Industry
The idea is especially relevant given the tragic events of the last year. Deaths from the coronavirus have left millions of families across the world making arrangements. That makes Empathy’s idea timely and gives the startup business a great opportunity to serve others experiencing loss.
Gura said he hopes that Empathy’s role in the broader bereavement planning business will drive more change in the industry.
“Logistics are made hard by grief, and grief is made harder by logistics...Software can and will play a huge role in helping families deal with loss and will hopefully drive a much needed change in the industry at large.”
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.