Passare® Deepens Relationship with Directors Investment Group
SAN FRANCISCO, CA – April 6, 2015 – Passare, Inc., a company offering cloud-based funeral arrangement and collaboration solutions to funeral homes, has entered into an agreement with Directors Investment Group (DIG) to form a strategic relationship that will spur Passare’s future growth and rapid expansion as a nationwide network of funeral care providers. DIG has made a significant investment in Passare, and as a result, Passare has become a subsidiary of DIG. Passare’s initial investors will remain as shareholders of Passare, Inc., and Passare’s board of directors, made up primarily of funeral service professionals, will remain intact.
“Directors Investment Group has been a substantial investor in this product for some time,” said Tom Bonafair, Passare interim CEO and board member. “Our new relationship with DIG is allowing us to collaborate on the development of new strategies for the future growth of Passare. We are excited about this strategic partnership, and we are looking forward to leveraging the strengths of DIG’s industry knowledge and significant distribution channel.”
DIG is the parent company of Funeral Directors Life Insurance Company (FDLIC), a leading national legal reserve life insurance company which specializes in the sale of insurance-funded preneed funerals. Through a distribution agreement with FDLIC, Passare will be able to quickly grow its customer base of network subscibers.
Passare was founded in 2012 as a tech start-up that has revolutionized the funeral experience for funeral professionals and the families they serve. Passare’s online collaboration and arrangement platform, launched in 2014, offers funeral homes increased efficiency, productivity, and enhanced customer satisfaction as consumers are able to collaborate on funeral arrangements, anywhere, at any time, from any device.
With the successful launch and rapid growth of Passare’s online platform, Passare’s board of directors sought out strong partners with funeral industry connections that could offer the required capital, funeral industry insight and expertise, and distribution needed to fuel the rapid expansion of the company’s growing subscriber network.
“When Directors Investment Group came into Passare and made their initial investment and became part of the board, it opened up a door for how to go forward that I think better aligns the Passare venture with funeral home needs, and I think it’s because DIG brings multiple decades of knowledge of working with funeral home owners that has enhanced our ability to now make this work,” said Duffy Swan, Passare chairman of the board and chairman of the board for French Funerals & Cremations located in Albuquerque, New Mexico.
“As a board member and a shareholder of Passare, I am so excited that DIG has stepped up to be the driving force in the Passare product,” said Mark Krause, Passare board member and president of Krause Funeral Homes in Milwaukee, Wisconsin. “We’ve been searching for the right way to go forward with Passare and how to get this out to funeral professionals. I think that with DIG stepping up in this major leadership role, we have the delivery system now, and we have the resources to really refine the Passare product. I am very grateful that they have stepped up to help lead this project into the future.”
Go to www.passare.com/media to view additional comments from Passare board members and DIG executives.
Headquartered in San Francisco, CA, Passare, Inc., is a privately held company offering the only cloud-based funeral arrangement and collaboration system in the funeral profession. Passare’s system helps funeral directors connect and communicate with families throughout the funeral planning process. The mission of Passare is to offer a best-in-class experience for funeral professionals and the families they serve. To learn more about Passare and how to join our nationwide network of funeral providers, please visit www.passare.com.
Directors Investment Group (DIG), a Nevada corporation, is the parent company for a diverse group of companies with a focus on two strategic industries – life insurance and financial services. DIG is the sole owner of Funeral Directors Life Insurance Company (FDLIC), a life insurance company specializing in the sale of prepaid funeral insurance policies and annuities.
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