Bestow Inc., a Dallas, TX-based consumer life insurance company, closed $15m in Series A funding.
The round, which brings total financing to more than $18m to-date, was led by Valar Ventures, with participation from existing investors New Enterprise Associates (NEA), Core Innovation Capital, 8VC, and Morpheus Ventures.
The company intends to use the funds to expand operations and its development and business growth efforts to be available nationwide this year.
Led by Melbourne O’Banion, CEO, Bestow leverages a proprietary algorithmic underwriting engine to instantly determine risk and give consumers immediate access to comprehensive life insurance solutions, without working with an agent, lengthy applications, or medical exams.
Bestow is currently live in Texas and Utah.