Life insurance startup Ethos secures $60m in Series C financing
Ethos, a US-based life insurance fintech startup, has secured a $60 million investment in a Series C financing, bringing the total funding till date to over $100 million, as per the latest insurtech news.
The funding, which follows major revenue and customer growth, will enable Ethos to make available life insurance coverage to millions of families in the US.
Ethos will use the proceeds to drive increased customer acquisition and support product refinement and technical team hires.
Led by GV (formerly Google Ventures), Series C financing has seen a new participant Goldman Sachs beside existing investors Sequoia Capital and Accel.
Tyson Clark – General Partner, GV said: “Since our original investment in Ethos last year, we’ve been consistently impressed by the company’s commitment to growth, customer traction, and execution to date.
“With the company’s product differentiation and singular approach to modern life insurance, Ethos is well-positioned to disrupt a $100+ billion industry.”
Since October 2018, Ethos has quadrupled revenue and announced several integral leadership hires.
Peter Colis – CEO and co-founder, Ethos said: “Getting life insurance is one of the most selfless financial choices someone can make.
“You shouldn’t have to endure what’s essentially a medical and financial strip search in order to protect your family.
“What makes Ethos different from other providers is our core values are aligned with the expectations of American families: life insurance should be easy and ethical.
“We aren’t motivated by capitalizing on individuals. Instead, we make choices like right-sizing policies for customers, so they have the best coverage for their families without ever paying more than they should.”
Ethos said it uses predictive analytics and sophisticated data technologies to eliminate the traditional barriers keeping people from getting coverage.