Tomorrow is well on its way to helping Americans handle long-term financial and legal decisions with a mobile app.
The Seattle startup has raised another $4.2 million to help grow its technology that lets people create legal wills and pay for term life insurance.
Veteran entrepreneur Dave Hanley founded Tomorrow in 2016. He lost both of his parents unexpectedly and wasn’t ready for the difficult financial and legal processes that were to follow. The experience made him realize how many people are unprepared to handle long-term financial and legal decisions — particularly those that lack the time or money required.
Tomorrow provides free legal documents that meet the needs of more than 95 percent of Americans. The 14-person company makes money as a licensed broker of financial services products such as term life insurance. The app has more than 50,000 users.
“We are very proud of our first year of execution,” Hanley told GeekWire. “We demonstrated that the supposedly Sisyphean task of getting masses of Americans to accomplish these important — but all-too-often delayed — goals can indeed be accomplished.”
The funding will be used for advertising, distribution, and partnerships. Sinai Ventures led the round; Aflac Corporate Ventures, Allianz Ventures, Maschmeyer Group Ventures, Plug and Play, and Flying Fish Ventures also participated.
Hanley previously sold social media consultancy Banyan Branch to Deloitte Digital in 2013. His previous startup, Shelfari, was acquired by Amazon in 2009.
Hanley stayed on at Deloitte for nearly three years before he teamed up with his three Tomorrow co-founders: former Creditnet President Josh Heckathorn; ex-Starbucks mobile engineering leader Wayne Rambo; and startup veteran Erik Berg.
Tomorrow is using technology to digitize a traditionally paper-filled process. It’s similar to fellow Seattle startup JetClosing, which digitizes the home closing process for buyers, sellers, and realtors.
“Tomorrow brings an incredibly fluid, customer-first user experience to the traditional ways wills and trusts are created.” Sinai Ventures Managing Partner Jordan Fudge said in a statement. “We see these major steps in protecting a family as just the beginning of how Tomorrow can bring financial security to every household. There is great opportunity for growth here.”