About FreeWill
FreeWill is a company based in New York (United States) founded in 1998 by Patrick Schmitt and Jennifer Xia Spradling.. FreeWill has raised $30 million across 1 funding round from investors including Pear VC, Bain Capital Double Impact and QED Investors. FreeWill has completed 1 acquisition, including Cocatalyst. FreeWill operates in a competitive market with competitors including Farewill, CrowdJustice, Safewill, GoodTrust and Willful, among others.
- Headquarter New York, United States
- Founders Patrick Schmitt, Jennifer Xia Spradling
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Sectors
Professional & Legal ServicesFinancial Services Government & Social Sector
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Freewill Co.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$30 M (USD)
in 1 rounds
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Latest Funding Round
$30 M (USD), Series B
Mar 02, 2022
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Investors
Pear VC
& 6 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Funding Insights of FreeWill
FreeWill has successfully raised a total of $30M through 1 strategic funding round. The most recent funding activity was a Series B round of $30 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $30.0M
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First Round
First Round
(02 Mar 2022)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Series B - FreeWill | Valuation | Bain Capital Double Impact |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in FreeWill
FreeWill has secured backing from 7 investors, including venture fund investors. Prominent investors backing the company include Pear VC, Bain Capital Double Impact and QED Investors. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Impact investing in health, education, and sustainability with a focus on financial and social returns.
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Founded Year | Domain | Location | |
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Venture capital fund investing in early-stage start-ups
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Founded Year | Domain | Location | |
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Seed-stage funding is provided to innovative founder teams.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FreeWill
FreeWill has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Cocatalyst. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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A foundation focused on asset donations to non-profits and churches
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - FreeWill
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Freewill Comparisons
Competitors of FreeWill
FreeWill operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Farewill, CrowdJustice, Safewill, GoodTrust and Willful, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online platform for wills management and end-of-life planning is operated.
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| domain | founded_year | HQ Location |
Legal case crowdfunding is enabled via an online platform.
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| domain | founded_year | HQ Location |
Cloud based will creation platform
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| domain | founded_year | HQ Location |
Cloud based platform offering will management solution
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| domain | founded_year | HQ Location |
Cloud-based platform for will-making solutions is operated.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Freewill
Frequently Asked Questions about FreeWill
When was FreeWill founded?
FreeWill was founded in 1998 and raised its 1st funding round 24 years after it was founded.
Where is FreeWill located?
FreeWill is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of FreeWill?
Patrick Schmitt is the current CEO of FreeWill. They have also founded this company.
Is FreeWill a funded company?
FreeWill is a funded company, having raised a total of $30M across 1 funding round to date. The company's 1st funding round was a Series B of $30M, raised on Mar 02, 2022.
What does FreeWill do?
FreeWill provides online legal will management solutions for non profit organizations. The product offerings include Bequest Tool is an estate planning and legacy giving tool, Qualified Charitable Distributions tool is a tool for donors to give charitably from their IRAs, etc. It allows users to create a will and manage an online legal will maker that helps you compile will forms to print and sign, or to take as a basic will template to an estate planning lawyer. It enables users to get help from legal experts to manage wills.
Who are the top competitors of FreeWill?
How many acquisitions has FreeWill made?
FreeWill has made 1 acquisition, including Cocatalyst.
Who are FreeWill's investors?
FreeWill has 7 investors. Key investors include Pear VC, Bain Capital Double Impact, QED Investors, Ulu Ventures, and Highland Capital Partners.
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