BOSTON & SEATTLE--(BUSINESS WIRE)--Titan Casket, the fastest-growing direct-to-consumer casket company in the U.S., today announced the close of a $3.5 million seed round led by Reformation Partners. By providing caskets direct-to-consumer and allowing customers to make the purchase online versus at the funeral home, Titan Casket saves consumers money, time and aggravation in a time of sorrow and brings trust and transparency to an emotional purchase.
As Titan continues to expand its product and service categories with the addition of eco-friendly caskets, urns, flowers, and funeral pre-planning options, this funding will be used for product development, ensuring faster delivery speeds of only 1-2 business days for 90% of U.S. metros through added distribution points in Los Angeles, Dallas, New York, and Chicago, brand building, and consumer education. These investments will help Titan Casket realize its goal of becoming the digital solution for funeral planning, beyond the casket.
“Deathcare is one of the most taboo and least modernized markets. It is also a market that truly impacts every single person on the planet. As a result, there are massive opportunities for technology to improve everything in and around the deathcare experience,” said Andrew Oved, Founder and Managing Partner, Reformation Partners. “We were compelled by Titan's ability to tackle what is perhaps the most immediate, acute pain point after the passing of a loved one: a massive, sudden expense at a time of sorrow. The value proposition is crystal clear, and it is only a matter of time before Titan becomes a household name in consumer deathcare.”
As consumer funeral preferences evolve over time, Titan Casket is staying ahead of the trends. Most consumers start their research outside of the funeral home and nearly half (49% according to NFDA’s 2022 Consumer Awareness and Preferences Report) look for venues, products, and experiences outside of what funeral homes offer. Additionally, while the cremation rate is 57.5% (according to NFDA’s 2021 Cremation and Burial Report), 31.7% of consumers who are cremated still have their remains buried (according to the NFDA’s 2022 Consumer Awareness and Preferences Report), speaking to the continued demand for caskets even amidst a changing rate of cremations.
“Our research tells us that families want to start and end their funeral planning in the comfort of their home, surrounded by loved ones,” said Scott Ginsberg, CEO and Founder, Titan Casket. “Our platform enables families to choose how they say goodbye from their kitchen table, without the pressure to purchase often overpriced and cookie-cutter products at a funeral home. Adding both this funding and Reformation’s deep consumer experience will allow us to scale these improved experiences to millions of families in the U.S., so that they don’t take an emotional loss and turn it into a financial loss.”
This funding round comes on the heels of Titan Casket’s explosive 400% year-over-year growth in 2021, a year in which the company sold its first urns and pre-planning policies, increased the number of caskets available for purchase on its website by 30% (to over 1,000 models), introduced a new website with tools to select/design a casket and estimate the shipping date, launched the casket category for Sam’s Club and a military line of caskets on Costco.com and opened warehouses in California, Pennsylvania and Alabama.
About Titan Casket
Titan Casket is the fastest-growing direct-to-consumer casket company in the U.S. Founded in 2016 by funeral market disruptor Scott Ginsberg, who was later joined by co-founders Joshua Siegel (former Amazon executive) and Elizabeth Siegel (repeat DTC founder), the company allows customers to buy caskets online for half the price they would pay at a funeral home, while having the ability to customize their casket, receive it “on demand” and experience unmatched customer service.
In addition to sales through its own website, Titan Casket is the largest casket seller on Amazon, and sells its caskets at Walmart, Sam's Club and Costco. Learn more at our website, and follow us on Twitter, Facebook and Pinterest.