Finance

Titan Casket secures funding round

Foundation Partners why I partnered

According to this release from BusinessWire direct-to-consumer company Titan Casket has secured $3.5 million in seed funding to expand its operations in the United States.  The round of funding was led by Reformation Partners.

The release continues as it says, “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.”

Here is what Andrew Oved, founder and Managing Partner of Reformation Partners said about the funding, “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.

And Scott Ginsberg, CEO and Founder of Titan Casket had this to say about the development, “Our research tells us that families want to start and end their funeral planning in the comfort of their home, surrounded by loved ones. Our platform enables families to choose how they say goodbye from their kitchen table . . . . “

This funding round comes on the heels of Titan Casket’s explosive growth in 2021 when they added urns and pre-planning policies to their product offerings.

In addition to sales from their own website, Titan Casket sells it caskets on Amazon, and through Walmart, Sam’s Club, and Costco.  They also have a program allowing funeral homes to partner with them in the sales of caskets.  You can see their website here.

You can access the website for Reformation Partners here.  Reformation Partners, according to their website, is also a funder of death care company Parting Pro.

Funeral Director Daily take:  Funeral service is changing and how the consumer purchases merchandise for their services is changing also.  Sales of caskets, urns, memorial folder products, and more was once the complete domain of funeral homes to sell and profit from.  As that paradigm changes, like many other businesses, to a more direct to consumer mode, I think Titan is positioned to be a leader going forward.

I’ve said it before, just like Amazon was to books when it started, there will be an online “hub” for death care purchases that becomes a consumer staple.  I can envision this “hub” offering everything from Sympathy cards to caskets and with this funding expansion Titan will be one of the companies at the forefront of the movement.

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