Fabric changes status to ‘Active’
Brooklyn-based Fabric is officially live in 32 states. The startup is targeting 25-44 year olds with an (1) accidental death coverage, referenced as Fabric Instant, and a (2) term-life product, referenced as Fabric Premium, offered by Vantis Life. Also, Fabric disclosed that it has raised $2.5 million in a seed round led by Bessemer Venture Partners with participation from RGAx.
Fabric cites CDC: National Vital Statistics Report, Volume 64, Number 2. (February 16, 2016), Table 9 as its source for “If you’re 25-44, accidental death is your life’s single biggest risk”. Keyword: single.
PS. That time Haven Life was regarded as an incumbent.