Ethos, a San Francisco, CA-based insurtech startup focused on life insurance, raised $11.5M in financing.
The round was led by Sequoia Capital, with participation from Stanford University, Arrive, a subsidiary of Roc Nation, Robert Downey Jr.’s Downey Ventures, Kevin Durant’s Durant Company, Will Smith’s Smith Family Circle, and a credit facility from Silicon Valley Bank. In conjunction with the funding, Sequoia Partner Roelof Botha will join the board of directors.
The company intends to use the funds to accelerate growth and enhance product development.
Co-founded by Peter Colis and Lingke Wang, who together previously co-founded Ovid Life, a life insurance marketplace, and licensed in 49 states, Ethos provides life insurance products through technology to align with the needs of American families. Using Ethos, people can apply and qualify for a policy after a ten minute application. There is always a non-commissioned licensed agent available to give unbiased guidance.