Latest news with #legacyplanning
National Post
29-05-2025
- Business
- National Post
Empathy Announces $72 Million Series C and Unveils Empathy Alliance
Article content Adams Street Partners leads fundraise alongside General Catalyst, Index Ventures, and strategic investor coalition, positioning company for accelerated product innovation and further expansion Article content Article content NEW YORK — Empathy, the leading technology company transforming how the world plans for and manages life's toughest moments, announced today a $72 million Series C fundraise led by Adams Street Partners with participation from General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, and LionTree, bringing total capital raised to $162 million. Alongside this most recent round, the company has formalized the Empathy Alliance, a coalition of market leaders and luminaries passionate about reimagining cultural standards around access to support. With a commitment to fund innovation that moves the industry forward, members of the Empathy Alliance who participated in the company's Series C include Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, Munich Re, MetLife, New York Life, Securian, and TIAA Ventures. Article content This announcement follows Empathy's recent category expansion into legacy planning and preparation with Empathy LifeVault™, broadening its platform to allow individuals to create and securely store legally binding estate plans and essential documents in minutes. Launched in 2021, Empathy's leading loss support solution has eased logistical and emotional burdens for millions of people, including one in five life insurance claimants, through partnerships with renowned financial institutions and over one thousand employers. Article content With increased distribution over the past four years, Empathy provides coverage for over 45 million lives, and in the past four months, seven million individuals have received access to LifeVault through partners like Aflac, New York Life, Voya, and more, demonstrating the company's rapid growth with thoughtful carriers and progressive employers, through its product ecosystem. AI has become an integral part of Empathy's platform, introduced to enhance the Care Team's speed, accuracy, and reach through real-time insights, guidance, and automation. While AI plays a crucial role in providing support at scale, human care remains central to Empathy's mission. Building on Empathy's recent momentum, this investment will further deepen capabilities, accelerate innovation, scale the platform offerings, and expand reach. Article content 'We're honored to support millions of families in their toughest times, and to have earned the trust of leading organizations, partnering with major financial institutions and some of the most progressive employers to deliver compassionate tech at scale,' said Ron Gura, Co-Founder & CEO of Empathy. 'We're proud to be at the forefront of revolutionizing industry standards and societal expectations around loss, and this milestone is not just a testament to Empathy's progress, but to the larger cultural shift that's occurring. Throughout life, we all will encounter moments that are financially, logistically, and emotionally taxing, and we see it as a privilege and responsibility to apply our expertise and direct meaningful resources toward tackling these challenges and raising the standard of support.' Article content 'Empathy is addressing a critical need with a thoughtful, mission-driven approach to supporting families through life's challenging moments,' said Tom Bremner, Partner, Growth Equity at Adams Street. 'We're excited to partner with the Empathy team and support the company's continued growth as it expands access to essential resources through innovation and industry-leading partnerships.' Article content Empathy is currently available throughout North America, including every U.S. state and Canada, in partnership with leading firms, including eight of the top ten U.S. life insurers. The company also supports comprehensive employee bereavement benefits for Fortune 500 companies. Empathy continues to raise awareness of societal attitudes around loss and to address the stigma around the conversation. Last month, the company released its fourth annual research report on the Grief Tax, which uncovered the cost of loss, not just in dollars and time, but also its impacts on health, relationships, and careers. The new data revealed a gap in current support and benefits, as well as the collective understanding of the compounding effects grief can have within society. Article content Fueled by the momentum of recent growth and deep insight into what's been demonstrated as a universal and apparent need, Empathy is committed to expanding its support ecosystem to encompass more modes of care that will open up access and support families during life's most difficult moments. Article content Empathy is a leading technology company transforming the way people plan for and navigate life's toughest moments. Serving more than 45 million policyholders across North America with loss support, Empathy currently partners with eight of the top ten U.S. life insurance carriers and handles one in five life insurance claims in the U.S. beyond the payout. With $162 million in funding from top-tier venture firms including Index Ventures, General Catalyst, Adams Street Partners, and other leading funds, as well as strategic investment from global financial institutions and Empathy Alliance partners, Empathy combines cutting-edge innovation with compassion to provide unparalleled support for bereavement, estate management, legacy planning, and more. Recognized by Apple, Google Play, and Fast Company, Empathy is setting the standard for modern family care and workplace benefits. Learn more at Article content The Empathy Alliance is a coalition of organizations, thought leaders, and practitioners seeking to advance the future of compassionate technology. Led by Empathy and together with strategic partners, including investors from the Series C, the Alliance will guide innovation that reimagines standards of and access to support during life's most challenging moments, helping to foster greater societal readiness and resilience. The Alliance is comprised of executives and investors across some of the most notable insurance and financial institutions including Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, MassMutual, MetLife, Munich Re, New York Life, Securian, Sumitomo Life, and TIAA Ventures. To learn more, visit Article content Article content Article content Article content Article content
Free Malaysia Today
20-05-2025
- Business
- Free Malaysia Today
Citadel Trustee launches new trust to help Malaysians preserve wealth
Citadel Trustee Bhd staff and potential clients at the launch of the Citadel Dynasty Trust in Petaling Jaya today. (Citadel Trustee pic) PETALING JAYA : Citadel Trustee Bhd has launched the Citadel Dynasty Trust, a new private trust structure aimed at helping Malaysian families preserve their wealth across multiple generations. The trust is designed to operate within the 80-year framework permitted under Malaysian trust law and addresses common issues in legacy planning, including legal limitations, probate delays and high estate administration costs. At the trust's launch here today, Citadel Group director Fred Chan noted that most Malaysians lacked awareness of estate planning, which often resulted in delays and complications in wealth distribution to their heirs and beneficiaries. Chan said the trust allowed for full, partial or customised distributions triggered by specific events such as death or total permanent disability, with beneficiaries able to receive funds within three working days, substantially faster than standard probate timelines. The Citadel Dynasty Trust only requires a one-time setup fee with no ongoing trustee charges. 'The Citadel Dynasty Trust offers a legally sound and flexible framework for families who want to secure their wealth for future generations,' he said. 'Unlike other trustees that charge an annual interest fee of up to 4.5%, which gradually erodes the initial trust capital, we require only a one-time payment of RM40,000. 'This ensures that the initial trust capital, for example, RM1 million, remains intact for up to 80 years until distribution,' he said. He also said Citadel Dynasty Trust expects to achieve its asset under management (AUM) target of RM5 billion in five years after its launch. Chan said Citadel Trustee was looking to promote the Citadel Dynasty Trust among senior citizens and clients from Hong Kong, Indonesia, Singapore and other countries with inheritance tax laws who were looking to invest their wealth in Malaysia. 'We will also have a shariah-compliant version for our Muslim clients in the future,' he said. The launch coincides with Citadel Trustee's fifth anniversary. Since its establishment in 2020, the company has focussed on innovation and client service in the areas of estate and legacy planning. Citadel Trustee is a subsidiary of the Citadel Group, a private trust management company providing wealth planning solutions to over 15,000 clients ranging from individuals, families and businesses.
Associated Press
19-05-2025
- Business
- Associated Press
adeus Secures £500,000 Innovate UK Grant to Pioneer Electronic Wills in the UK
adeus, a digital-first wills and legacy planning platform, has been awarded a £500,000 Smart Grant from Innovate UK, the UK government's innovation agency. 'Securing the Innovate UK Smart Grant is a major milestone for adeus and a strong endorsement of our vision,'— Nick Adams, Co-Founder. LONDON, UNITED KINGDOM, May 19, 2025 / / -- adeus, a digital-first wills and legacy planning platform developed by Mankind Technologies Ltd, has been awarded a £500,000 Smart Grant from Innovate UK, the UK government's innovation agency. The funding will accelerate the development of proprietary technology to support the introduction of electronic wills in England and Wales. The announcement coincides with the Law Commission's report on 'Modernising Wills Law', published on 16 May 2025. The report outlines landmark reforms to the Victorian era Wills Act 1837, including provisions that pave the way for electronic wills. Founded in 2024 by entrepreneurs Nick Adams and Mark Hedley, adeus was created to bring the outdated process of will-writing into the digital age. The company offers an intuitive platform for creating and managing wills, securely storing important life documents, and guiding customers through legacy planning with confidence and clarity. While currently focused on England and Wales for wills, the company's broader suite of digital legacy tools is already used in over 15 countries, with further global expansion planned. Its mission is clear: to make end-of-life planning simpler, smarter, and more accessible for everyone. 'Securing the Innovate UK Smart Grant is a major milestone for adeus and a strong endorsement of our vision,' said Nick Adams, Co-Founder. 'We believe the move to electronic wills is one of the most significant legal changes in a generation, and adeus is building the technology infrastructure to make it a reality.' About adeus adeus is a secure, user-friendly platform that simplifies the process of writing a will and organising key personal information. With a focus on security, accessibility, and innovation, adeus is building the future of legacy planning. The company is headquartered in London and backed by a global network of early-stage investors. For more information, visit Mark Hedley Mankind Technologies Ltd email us here Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
