Ethos, a San Francisco, CA-based company making ethical life insurance, raised $35m in Series B financing.
The round was led by Accel, with participation from Google Ventures, previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a debt facility from Silicon Valley Bank. In conjunction with the funding, Accel partner Nate Niparko will join the Ethos board of directors and GV General Partner Tyson Clark will become an advisor to the board.
The company intends to use the funds to continue to expand its business reach.
Led by Peter Colis, CEO and co-founder, Ethos provides life insurance products, which leverage proprietary technology that applies data science and predictive analytics to determine an individual’s life expectancy and eliminate friction from the applications and claims process for its customers.
Using Ethos, people can apply and qualify for a policy after a ten-minute application (versus the ten weeks it takes through a traditional process) and a non-commissioned licensed agent is always available to give guidance.
The company partners with life insurance industry leaders, including Assurity Life and Munich Re, to deliver quality life insurance products to its customers.
Ethos is licensed in 49 states.