The funding values the digital life insurance company at $2B. Here are the top-line bullets you need to know.
Ethos, an insurance technology platform provider, has raised $200M in Series D funding from investors like General Catalyst, Sequoia Capital, Accel, Google Ventures, and Glade Brook Capital, among others.
How’s the company performing?
- San Francisco-based Ethos Technologies is an insurance technology platform that offers predictive analysis to help users select the right life insurance. The company offers policies without any medical examinations.
- Ethos currently has around 150 employees and plans to double its headcount this year. The company began its operations in Austin in 2019 and has been prioritizing its growth in this region.
- The company has seen revenue and user base skyrocket 500% year-on-year. It is on track to generate $100M in annual revenue and issue $20B worth of life insurance policies this year.
Source: Ethos Technologies
Why does the market matter?
- The global insurtech market is projected to grow at a CAGR of 10.8% and reach a value of $10.1B by 2025, according to Mordor Intelligence.
- The insurtech sector is seeing significant growth in investment with 2020 witnessing an all-time high in annual funding at $7.1B, per CB Insights.
