This is the Cake pitch deck to raise a $3.7m seed round in 2021.
About
Cake (joincake.com) is the world’s #1 digital solution for end-of-life planning and post-loss support, serving millions of people every month. We offer a library of resources and interactive tools that use AI and data science to help consumers honor the entire cycle of life. Our cloud-based platform is trusted by leading healthcare organizations, banks, and insurance companies to build brand loyalty, deepen relationships with customers, and provide value-added services for differentiation and retention.
The internet has changed a lot about healthcare, but it hasn’t yet upended the opaque and grief-ridden process of end-of-life care.
That was what Suelin Chen realized as she was working as a healthcare-technology consultant: While companies were trying to use technology to extend peoples’ lives, no one was helping to make those last weeks or months any easier for loved ones or patients. So in 2014, she left IMS Health Capital to start what is now Cake. On Wednesday, Cake raised $3.7 million in seed funding from AARP, InHealth Ventures, Two Lanterns, and Portfolia’s Aging and Longevity Fund, among others.
Cake is essentially the Tripadvisor for death, Chen said. Anyone can use Cake’s library of articles and other educational materials for free to explore topics such as how to use an estate planner and how to formalize a will. People can also use a premium version to begin planning their end-of-life care and to formalize their wishes with a personalized consultant.
The most popular age group of people using Cake to plan for the future consists of 25- to 34-year-olds, Chen said. She added that, aside from that age groups’ comfort with using services online, the COVID-19 pandemic made it so that grief and loss became easier to talk about because so many people had experienced it firsthand.
“It has really helped reduce the stigma and increase motivation for people to plan their affairs,” Chen said. “Losing people is a shared human experience that everyone goes through. These experiences feel really isolating, but people are going through them all the time.”
Funding rounds
|
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Jul 21, 2021 | Seed Round – Cake | 11 | $3.7M | — |
| Jan 1, 2021 | Convertible Note – Cake | 1 | — | — |
| Sep 21, 2020 | Seed Round – Cake | 1 | — |
Plug and Play Insurtech
|
| Jun 1, 2020 | Angel Round – Cake | 1 | — | — |
| Jan 30, 2020 | Seed Round – Cake | 3 | $1.7M |
GoAhead Ventures
|
| Nov 16, 2017 | Seed Round – Cake | 2 | $1.6M | Pillar VC |
| Jun 14, 2017 | Non Equity Assistance – Cake | 1 | — | — |
| Nov 3, 2016 | Seed Round – Cake | 1 | — | — |
| Nov 1, 2015 | Grant – Cake | 1 | — | — |
| Mar 1, 2015 | Non Equity Assistance – Cake | 1 | — | — |
Pitch deck review summary
Slide by slide review
Deck Collection
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