- Road To Carry Newsletter
- Posts
- ⚰️ Funeral Home Software Roll Up & Payments Strategy
⚰️ Funeral Home Software Roll Up & Payments Strategy
Story of Tribute Technology, a funeral home software platform backed by Carlyle and Vista
Roll-Up Playbook: Funeral Home Software
State of Play
Last week, PSG, a software growth buyout firm, announced closing of PSG VI Fund at $6 billion commitments, alongside a $2 billion continuation fund PSG Sequel. This is an impressive feat in a very tough fundraising market, especially for a software PE firm. Today’s edition is about Tribute Technology, one of the biggest wins that put PSG on the map among other high-flying software investment firms. Next week, we will deep dive into the software + payments strategy that made the Tribute Technology investment so successful.
Tribute Technology made waves when PSG sold the company for over $1 billion to Carlyle and Vista in late 2020. Not only was this a massive exit for PSG—especially considering PSG’s $1.3 billion fund size at the time—but the company’s focus on funeral home technology sparked controversy. Some media outlets even coined the term “DeathTech”, as the deal came just months after the COVID outbreak.
Fast forward four years, and Carlyle and Vista have remained uncharacteristically quiet, making just one acquisition since their investment. The question remains if they overpaid for fragmented collection of assets hastily assembled by PSG or they are strategically keeping a low profile and preparing for a major exit in the coming years
How Tribute Technology Makes Money
Before diving into Tribute Technology’s investment thesis and history, let’s break down its four core revenue streams:
⛪ 1. Funeral Home Management Software
Tribute Technology charges recurring subscription revenue for their end-to-end funeral home management software suite, which includes
Case Management – Digital handling of paperwork for funeral directors.
Digital Whiteboard – A centralized hub for scheduling services, tasks, and staff assignments.
Staff Management – Tools for task assignments, RSVPs, and communication via built-in SMS/messaging.
Operations Management – Tracks vehicle bookings, maintenance schedules, and other business logistics.
Financial Integration – Syncs with QuickBooks Online and other accounting systems.
Inventory Management – Monitors funeral products and supply levels.
Family Communication Portal – Secure platform for sharing updates and information with clients.
Compliance Management – Ensures adherence to industry regulations.
🛒 2. Websites & E-Commerce
Tribute Technology sells custom funeral home websites with built-in e-commerce, driving additional payments revenue:
Mobile-Friendly Websites – Template-based but customizable to match each funeral home’s brand.
Personalized Memorial Products – Includes Tribute Book and Tribute Video for families.
Tribute Wall – An interactive online space for condolences and shared memories.
AI-Powered Tools – Features like the Tribute Obituary Writer use AI to quickly craft unique obituaries.
E-Commerce Capabilities – Tribute Store integration allows funeral homes to sell sympathy gifts, flowers, memorial trees, and keepsakes.
💳 3. Payments
Tribute Technology earns transaction fees (as % of purchased amount) on funeral home services and e-commerce purchases, embedding its payment solutions into its software and website offerings for seamless transactions:
Online Payments – Families can pay securely using credit cards or eChecks.
Life Insurance Assignments – Funeral homes can receive insurance payouts within 24 hours.
Split Payments – Enables multiple family members to split funeral costs easily.
Crowdfunding Integration – Allows families to raise funds for funeral expenses directly on the platform.
📢 4. Marketing / Advertising Services
The company also offers marketing services to funeral homes to drive online traffic and revenue growth:
Social Media Marketing: Engaging posts and high-performing ads tailored for the funeral industry
Search Engine Marketing: Increases website searchability and relevance to help funeral homes outrank competitors
Behavioral Marketing: Uses data from online obituaries, website traffic, and social media to drive spending from families purchasing funeral home services
Tribute Technology has established itself as a one-stop-shop for funeral homes. As we will cover in the company history, the one-stop-shop strategy was a very intentional maneuver executed by PSG.
Reply