Yahoo Finance Eirene, Canada's first and only online funeral services provider, launches operations in the U.S. after raising over $4 million in seed round to accelerate its growth
TORONTO, April 3, 2024 /CNW/ - Eirene, Canada's first and only online funeral services provider, has launched operations in the U.S. after raising $4.1 million in seed funding. Relay Ventures led the round, with participation from Export Development Canada and Saint Elizabeth Healthcare. This funding will accelerate Eirene's path to scale, with a focus on expanding its operations in the U.S., building its brand, and growing its team.
This latest round brings Eirene's total funding to $5 million since it was founded in 2019 by Mallory Greene and Faisal Abid. Eirene's pre-seed round included investors Michael Katchen, co-founder of Wealthsimple, and Manica Blain of Top Knot Ventures.
Eirene's technology platform provides families with online end-of-life solutions that are easy to use, simple to understand, and affordable. Eirene's platform is supported by a dedicated team committed to providing high-quality and compassionate funeral services to families. A leader in the Canadian funeral services industry, Eirene operates in five provinces and now in Florida, with its expansion into the U.S. market. According to industry experts, the U.S. funeral services industry is worth over US$20 billion, with the highest density of people living in coastal areas, including Florida.
"With the ongoing support and confidence of our investors, and the launch of our business in Florida, we're thrilled to be able to serve more families in Canada and the U.S.. Today, over 75% of Canadians and over 60% of Americans are choosing cremation. However, there has been very little change in how the industry delivers its services in the past 100 years. We're filling a gap to provide a relevant and innovative solution for families," said Mallory Greene, Eirene's co-founder and CEO.
Eirene's technology platform also provides a more consistent, transparent and streamlined customer experience, which includes its pricing. Eirene's cremation services cost less than half what traditional funeral homes charge, while still delivering the service and support that families are looking for. Another point of differentiation is its business model, which provides Eirene the ability to grow its business faster than traditional companies in this space.
"We're excited to lead this round of funding for Eirene, and to be able to work with exceptional founders like Mallory and Faisal. Eirene is leveraging their technology-enabled platform to disrupt a traditional brick and mortar industry, which positions Eirene at the forefront of transforming the customer experience," said Kevin Talbot, co-founder and Managing Partner of Relay Ventures. "This investment will accelerate Eirene's ability to scale its operations across North America, expand its end-of-life services and further invest in its innovative technology platform to maintain its leadership position."
"This funding comes at an exciting time for our business and demonstrates a shared vision with our partners," added Greene.
About Eirene
Eirene is a leading North American online funeral services provider, making cremation easier and more affordable for families. Founded in 2019, Eirene is Canada's first and only direct cremation technology platform with operations in the U.S.. Eirene provides end-to-end services from pick-up to cremation to delivery of the ashes, and is supported by a dedicated team committed to providing families with high-quality and compassionate funeral services. In Canada, Eirene operates in Ontario, Nova Scotia, Alberta, Saskatchewan and British Columbia. In the U.S., Eirene operates in Florida, with plans for further expansion. To learn more, please visit eirenecremations.com.
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SOURCE Eirene Cremation Inc.
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