Fabric, a Brooklyn, New York-based provider of products helping parents protect their family’s financial future, raised $18m in Series B funding.
The round was led by CNO Financial Group (NYSE: CNO) with participation from Guardian Life, Nippon Life, Samsung Ventures, Securian Ventures, and existing investors, including Bessemer Venture Partners.
The company intends to use the funds to further accelerate its growth and expand its suite of products.
Founded in 2015 by Adam Erlebacher and Steven Surgnier, Fabric provides financial tools focused on parents such as life insurance, instruments to create a free will, and organize their family’s important financial information. Fabric offers life insurance policies issued by Vantis Life.