Fabric Raises $2.5M to Simplify Life Insurance with Digital-First Approach
The Problem: Complex and Costly Traditional Insurance
For parents, securing life insurance should be straightforward—but the reality is often overwhelming. Traditional processes are bogged down by paperwork, high costs, and commission-driven agents. Brooklyn-based startup Fabric aims to disrupt this space with a seamless, mobile-friendly solution.
Seed Funding and Backing
Fabric announced a $2.5 million seed round led by Bessemer Venture Partners, with participation from Box Group, Brainchild, Maveron, Red Sea Ventures, and RGAx. This brings the company’s total funding to $2.8 million since its 2015 founding. The capital will fuel team expansion beyond its current seven employees.
How Fabric Works: Instant Coverage in Minutes
As a fully licensed insurance agency, Fabric partners with Vantis Life to offer policies directly to consumers. Key features include:
- Fabric Instant: Starts at $6/month for $100,000 in accidental death coverage (ideal for adults aged 25–44, where accidental death is the leading risk).
- Fabric Premium: A 20-year term life policy covering \(100,000 to \)5+ million, priced based on health and lifestyle.
“Experts recommend coverage of at least 5x your annual salary,” says CEO Adam Erlebacher. “For a \(50,000 earner, that’s \)250,000—which costs just $15/month with Fabric Instant.”
Digital-First, No App Required
Unlike compe*****s, Fabric eschews a dedicated app. “Users prefer a browser-based experience,” Erlebacher notes. The platform enables policy sign-ups in under two minutes, with optional support from licensed agents—free of commission bias.
Competitive Edge Against Industry Giants
Fabric challenges incumbents like MetLife and Haven Life (MassMutual’s digital arm) by rebuilding insurance from scratch. Startups like Ladder Life also vie for market share, but Fabric’s focus on simplicity and affordability sets it apart.
What’s Next?
After a successful private beta, Fabric is poised to scale. Its mission? To make life insurance accessible, transparent, and tailored for modern families—no agents or hidden fees required.
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