The world of life insurance is generally a bit dull, with `sell and forget’ being the tradional marketing method. But DeadHappy have been shaking that thinking up with a sharper, more modern approach. Now they are moving up a gear, with an interesting twist as Channel 4 gets behind the brand too. More news here;
Award winning Digital life insurance provider DeadHappy completes £4.75M investment from new investors Channel 4 Ventures and Venture Founders, and follow-on investors Octopus and eVentures
- Life insurance company DeadHappy complete a Seedrs crowdfunding round, securing £2.75m from 1200 stakeholders, including Venture Founders, a new VC.
- The crowdfund follows £5.5m investment to date from notable VCs Octopus and e.Ventures, both of whom are reinvesting in this round.
- The company simultaneously secure a £2m media for equity deal from Channel 4 Ventures.
- This funding will allow the company to expand its product offering, further invest in marketing channels, and broaden distribution to bring the digital-first life insurance concept to a wider audience.
- The Company was handed the industry ‘Innovation’ Award last week it revolutionary concepts, looking to change life insurance for ever.
Rapidly-growing digital-first life insurance provider, DeadHappy, announces a fresh £4.75m investment. £2.7m of the funding (180% over the original £1.5m target) comes from the company’s first crowdfunding campaign on the Seedrs platform, alongside a £2m media-for-equity deal with Channel 4 Ventures. This follows £5.5m investment to date from international VCs Octopus and eVentures with both reinvesting in this round.
Since launching their unique 10-year rolling (pay -as-you-go) life insurance product which allows customers to answer just 4 medical questions and get approval in under 3 minutes via their mobile phone, DeadHappy has insured over £1bn payouts and received overwhelmingly positive customer feedback, with NPS of 86 and a Trustpilot score of 4.9.
The new investment will allow the company to further accelerate their growth and scale the business through distribution partnerships. Phil Zeidler, Co-founder of DeadHappy, said:
“We’ve redesigned life insurance with a customer first approach, giving them access to choose what they want, not what the industry thinks they need. We’ve created a proposition that attracts many of the 8.5million potential customers the industry currently fails to serve, while making the traditionally arduous process of obtaining life insurance a lot quicker, cheaper and far more flexible. We are blown away with the response and are now focusing on scaling the business. We are incredibly excited about bringing our new digital life insurance concept to a much wider audience. It was fantastic to get recognition from the industry last week in winning the Innovation Award confirming what we are doing is special.”
The media for equity deal will double the current media spend, increasing the reach of DeadHappy’s major new TV campaign kicking off in Q1, 2021 – introducing their eccentric brand icons (Mick & Tel) to a more mainstream audience.
“Our customers and followers have gone nuts for Mick and Tel! Mick loves us but Terry hates us, which gives us the opportunity to engage and empathise with our customers on a completely different level. They allow us to talk about life and death in a way not seen before – poignant and (hopefully) very funny. You will definitely be seeing more of those two characters and their friends in the near future,” Phil Zeidler added.
Vinay Solanki, Head of Channel 4 Ventures:
“We are delighted to be supporting Phil and the team at DeadHappy on their mission to change attitudes towards death and make it more straightforward to plan for. Their first product is a totally fresh approach to life insurance. We look forward to supporting DeadHappy’s ambitions to become the leading direct-to-consumer life insurance brand in the UK.”
James Codling, Exec Chairman and Head of Investment, VentureFounders:
“VentureFounders is delighted to be investing in DeadHappy, a business which is revolutionising the life insurance industry by making life insurance products more accessible and affordable. DeadHappy joins our portfolio of high growth Fintech and SaaS companies and we look forward to helping this business achieve its full potential under Phil’s expert leadership.”
For more information visit; deadhappy.com
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