Ethos Hits $2 Billion Valuation With Series D Round
Palo Alto – May 17, 2021 – Cooley advised Ethos, an insurtech company that’s transforming the life insurance space, on its $200 million Series D financing round, which brings its valuation to more than $2 billion. Lawyers Seth Gottlieb, Matthew Bartus and Emily Iannarelli led the team advising Ethos.
General Catalyst led the round, which also included participation from existing investors Sequoia Capital, Accel and GV, as well as rapper Jay-Z’s Roc Nation, Glade Brook Capital Partners and the investment vehicles of actors Will Smith and Robert Downey Jr. Ethos will use the new capital to fund growth, including new product offerings.
"We are on a mission to protect the next million families and will use this money to continue improving the best insurance customer experience ever created," Peter Colis, CEO and co-founder of Ethos, said in a news release. "This funding will help us enrich our technology and data platform and help us launch new products to enable everyone an opportunity to protect their families."
Ethos makes getting coverage easy and accessible for millions of families by using deep technology and data science to eliminate traditional barriers to life insurance and bring the industry into the modern age. Year-over-year, its revenue and users have each grown by more than 500%, and it expects to issue $20 billion of life insurance coverage this year, surpassing all competitors as it achieves its mission to provide life insurance for everyone.
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