Ethos raises $100 million

Two months after announcing a $200 million Series D round that took its valuation to $2 billion, Ethos Life is now announcing it has raised an additional $100 million. The new investment from SoftBank Vision Fund 2 brings Ethos’s valuation to $2.7 billion and total funds raised to $400 million.

The company – with new offices in Austin and Singapore – stated it expects to issue $20 billion of life insurance coverage in 2021 and it is nearing $100 million in annualized gross profit .

Ethos has been targeting more women and more low- and middle-income families; over 40% of new policyholders in the first half of 2021 had incomes of $60,000 or less. Almost 40% of new policyholders were under the age of 40. Since January 1, 2021, the top five occupations held by new policy owners are homemaker, insurance agent, business owner, teacher, and registered nurse. “In the last six months, we’ve insured more truck drivers and current members of the military than we have attorneys.”

Insurance partners include Ameritas, TruStage, AAA Life, and Legal & General America.