The main reason that a Revive ability isn't currently in Arcane Legends is the limitation to only 4 skills. If one class did have such an ability, they'd pretty much always have to have it up when running in a party (or their party mates would likely browbeat them into slotting it - which isn't something we want). The limitation to 4 skills is by design and fits well with the current functionality to upgrade skills. Also, with all 3 classes having access to a heal ability and how bosses pop out heal plusses as you fight them - dying is part of the intended difficulty. We'd say, play better.
However, we do understand that, if you do fall, running back, especially on a big map, is less than fun. All of this is to say that the Design Team is looking into some alternatives for revive. I think the leading one is to change up the revive at full health/mana to be for gold (and tune the amount of gold to change per level) and tune the gold cost to help as a gold sink for the economy. Economy is also another big discussion going on right now with the Design Team, but that's for another post. As always, there are no guarantees that anything will change, but I did want to let you know that it is being looked into.