Lantern: Start the Conversation About Dying Well

The United States involves a significant amount of administrative tasks, and this is particularly noticeable when someone passes away. Advance healthcare directives must be distributed to medical professionals and adhered to precisely. Assets need to be allocated and transferred in accordance with applicable estate regulations. Furthermore, arrangements for a funeral, cremation, or alternative disposition come with their own set of intricate details, expenses, and decisions.

The most challenging moment to contemplate end-of-life arrangements is when death is imminent. The ideal time to do so is when you are not facing such a situation.

Lantern, a New York City-based company, aims to encourage these discussions proactively and provide its users with greater reassurance, especially during difficult times.

The company essentially provides a guide for preparing for the end of life, offering checklists and progress tracking to ensure most details are addressed beforehand. In certain instances, the company manages the underlying processes directly, while for areas like estate planning, it collaborates with partners like Trust & Will, which TechCrunch has covered previously.

Currently, the company offers two subscription levels: a basic free option and a $27 per year plan that monitors your progress in end-of-life planning and enables collaboration with family, friends, or other involved parties. Additional à la carte options are being added for an extra cost.

The company recently secured $1.4 million in a seed funding round spearheaded by Draper Associates, with participation from other investment firms. Prior to this, it raised a pre-seed round of $890,000 from investors including 2048 Ventures and Amplify, bringing its total funding to $2.3 million. Organized as a public-benefit corporation, Lantern was established in September 2018 and launched its initial offering a year later.

For Liz Eddy and Alyssa Ruderman, the founders, Lantern presented an opportunity to address a significant issue with sensitivity and understanding. Eddy, who serves as CEO, stated, “I launched my first company at age 15.” That venture focused on educating high school and college students about dating abuse and domestic violence. “I truly enjoyed the dynamism of launching something new, as well as initiating conversations about topics people often avoid and making them more approachable,” she explained.

Subsequently, she joined Crisis Text Line, a local suicide prevention organization that utilizes an SMS-based network of trained crisis counselors to support individuals in distress and facilitate their recovery. She dedicated over six years to the organization.

Ruderman, the COO of Lantern, previously spent two years at Global Citizen, a nonprofit dedicated to eradicating extreme poverty. The two founders connected and developed Lantern while participating in the Grand Central Tech startup accelerator.

The concept for improved end-of-life planning stemmed from personal experience. “I experienced the loss of my father during elementary school,” Eddy shared, “and witnessed firsthand the financial, emotional, logistical, and legal impact of loss on a family.”

Currently, many of these procedures are conducted offline, and the online resources available primarily concentrate on specific aspects of end-of-life planning, such as estate planning or selecting a burial container. Eddy and Ruderman identified an opportunity to deliver a more comprehensive experience with an enhanced product, while also initiating these conversations sooner.

The product’s pre-planning feature was introduced as the pandemic began last year, and Eddy noted that “we experienced a unique launch period as people began to contemplate their mortality in a way we hadn’t observed in quite some time.” To date, the typical user has been between 25 and 35 years old, with many initiating planning during significant life events. Eddy indicated that the death of a family member is a common catalyst, but so are events like having a child or starting a business.

Eddy consistently highlighted that having a will and pre-planning for end-of-life are not the same thing. “Even if you have no assets upon your passing, there are numerous other considerations for your loved ones, family members, or those responsible,” she emphasized.

From a product development standpoint, there are some distinctions compared to a typical SaaS business. The company must maintain regular engagement with users, but not excessively. Unlike a one-time event like a wedding, documents and directives require periodic review and updates as a user’s circumstances evolve.

Furthermore, a significant challenge with a product addressing death is establishing a connection with users that doesn’t feel impersonal or detached. “Even as a completely virtual product, ensuring a genuine human connection throughout the experience” is a top priority, Eddy said. “We employ empathetic language, and our visuals, including all illustrations, are created by artists who have experienced loss in memory of their loved ones.”

While longevity startups may be a focus for some venture capital investors, addressing the end of life—regardless of when it occurs—is a universal experience. Lantern may offer a brighter perspective on what can otherwise be a daunting and frightening prospect.