Managers of Ethos Technologies Inc., a company that sells life insurance through the web, announced Tuesday that they have attracted $60 million more capital to the company through a new round of financing.
Ethos is a San Francisco-based company that has been selling term life insurance from Assurity Life Insurance Company through a website at http://www.ethoslife.com. Ethos managers say the company starts with the idea that “everyone deserves access to ethically designed, easy-to-understand term life insurance policies tailored to fit people’s lives.”
The company uses online technology to speed up the underwriting process.
The list of investors in the new round of funding includes Google’s GV affiliate, Goldman Sachs, Sequoia Capital and Accel.
Ethos has now raised a total of $100 million in outside capital through three rounds of funding.
Managers say the company has quadrupled revenue since October 2018, and that they will use the new capital to refine products and hire people who can help run and improve the website.
The California Department of Insurance website lists Ethos as an insurance agency and registered administrator.
In California, the company does business as Ethos Technologies Administrator Inc. and as Ethos Technologies Insurance Services Corp.
The company uses the name “Ethos Technologies Administrators” for administrative business conducted in California, and the name “Ethos Technologies Insurance Services Corp.” for insurance business conducted in California, according to a license status note on the California department’s website.