Estate management platform Willed has raised $3 million in a fresh round that sees Seven West Media join the cap table as the startup looks to ramp up its marketing.
Seven’s (ASX:SWM) strategic investment through its venture arm also includes an option for a further $3m, as the startup uses the media platform to increase its brand awareness through marketing.
Founded in 2019, and launched in 2020, Willed is a death-as-a-service software solution dealing with issues such as wills, probate, power of attorney, prepaid funerals, services and cremation, with the goal of making “end-of-life planning simple, affordable and accessible” at a national level.
Willed previously raised $6 million in June 2022 and Seven Ventures joins previous backers including Thorney Investment Group, Ellerston Capital, Paul Dwyer, founder of PSC Insurance, and Bell Potter’s Hugh Robertson on the share registry. The startup was cofounded by Aaron Zelman, Dave Kaplan and Tim Glasson.
Kaplan, the CEO, said the Seven deal will see them accelerate their growth faster. Around half of the Australian population don’t have a valid will.
“This investment not only validates our company’s mission but also comes at a critical time when the rising cost of living is putting serious strain on all Australian households,” he said.
“Longer term, the timing couldn’t be better because the largest generational wealth transfer in Australian history is getting underway – making it more important than ever before for people to have their affairs in order.”
Seven West Media head of ventures Alex Beer said Willed has rapidly grown into Australia’s leading ‘end of life’ services platform.
“Traditional operators tend to be limited by location and stick to either funerals or legal services alone. Willed are able to better serve customers across a range of related services,” he said.
“We believe the upside for Willed is significant and in partnership with Seven, we aim to turbo-charge awareness of the Willed brand via a national TVC campaign across Australia.”
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