Nemu is an inheritance-management platform that helps families equitably divide personal property during downsizing, divorce, and estate settlement — a category with real emotional pain and no incumbent software solution. Sarah Powers (CMC, Wharton, 8 years healthcare ops, ex-Head of Ops Bicycle Health) built Nemu at Wharton after seeing families struggle with heirloom division through her mother's estate work. Wedge is a mobile app + division algorithm sold through downstream partners — estate planners, senior-living operators, and end-of-life platforms — rather than direct-to-consumer acquisition, which is where every prior venture attempt has failed.
Sarah closed a $500K pre-seed at a $5M post cap with Underdog Labs, CEAS Fund and Honors Fund alongside StoryHouse's $250K (Internal). Signed pilot with Trust & Will; live pilots with Legacy.com, Divorce.com and Full Circle Aftercare; onboarded a full-time hire (Amir Valiani); admitted to AARP AgeTech Accelerator per the 2024-07-25 note. Went from angel-scale interest to a real B2B pipeline in one year.
The estate-planning / end-of-life SaaS category is early: Trust & Will (partner) and Legacy.com dominate their respective adjacent surfaces, but no one owns "how do we divide the stuff." Nemu wedges into that gap through partner distribution.
| Player | Positioning | Funding / Stage | Edge vs. them |
|---|---|---|---|
| Nemu | Mobile app + division algorithm sold through estate/senior/downsizing partners | $500K pre-seed closed May 2024 | — |
| FairSplit | Traditional D2C estate-division software | Bootstrapped SMB tool | Nemu's B2B partner motion turns the same feature into distribution instead of paid acquisition. |
| Trust & Will | Digital estate planning documents; now Nemu partner | Series C ($21M raised) | Complement, not competitor — T&W does the documents, Nemu does the property division. |
| Everplans | End-of-life planning / storage | Series A | Broader scope but weaker at physical-property division; Nemu wins on the specific pain. |
Moat: Founder-market fit (Sarah's Wharton research + operations background), B2B partnership motion at the Trust & Will / Legacy.com layer, and a proprietary algorithm for equitable division that improves with every use.
Most likely acquirer is a partner that becomes strategic — Trust & Will, a senior-living operator (Brookdale, Atria), or a legacy/end-of-life platform. Return math from a $5M entry cap is favorable even at a modest strategic outcome.
Portfolio update touching on pipeline progress and next milestones.
RAW NOTES: Portfolio call — continuing to advance partner distribution with estate-planning and end-of-life platforms.
Round finalized at $455K; Trust & Will implementation live; two new pilots (Legacy.com, Full Circle Aftercare); admitted to AARP AgeTech Accelerator.
RAW NOTES: Updates: Onboarded Tom which has been going well and recruited Amir Valiani to join FT. Implemented contract with Trust and Will. Pilot with Legacy.com and Full Circle Aftercare. Round ended up raising $455K. Got into AARP AgeTech Accelerator (no investment just resources they get access to).
Sarah walked through revenue timing risk (12/31 customer deadlines), locked round composition ($500K on $5M post) and cap-table math.
NEXT STEPS: Sarah will send over SAFE. Send her MRL and Side Letter drafts.
RAW NOTES: Revenue Discussion: Concerned about a 12/31 deadline. Trust & Will: on track, originally wanted to sign in a couple weeks but then had internal turnover. Underdog will do 10% of round size. $180K (Blake, Angel, F&F $10K) + our check + 10% = ~$500K. LEAD INVESTOR(S): Honors Fund $150K, Underdog $50K, StoryHouse $250K, Angels & FF $30K. ROUND TERMS: $500K at a $5M Post.
Reference call with Sarah Powers focused on her Bicycle Health operations tenure and the intellectual origin of Nemu at Wharton.
Source: Meeting Notes recPGXYLgHTf15vjw · 2024-01-09