What You Need to Know
- Ethos is the company that had cash from Robert Downey Jr. and Will Smith.
- YuLife has created a virtual currency for program participants backed by wellness-related activities.
- Banjo Health can help health insurers explain why they're refusing to cover certain drugs or medical procedures.
Ethos, an online life insurance agency, has received $100 million in capital from SoftBank Vision Fund 2.
The San Francisco-based company raised $200 million in May, and it has raised a total of $400 million since it came to life in 2017.
The list of early funders included Robert Downey Jr.’s Downey Ventures and Will Smith’s Smith Family Circle.
Ethos has offices in Austin, Texas, and Singapore. It sells life insurance policies written by Legal & General America’s Banner Life Insurance Company, Ameritas Life Insurance Corp., AAA Life Insurance Company and CMFG Life Insurance Company.
Simon: $100 Million
Simon Markets, a New York-based company that has created an online financial services exchange, has completed the first part of an effort to raise “up to $100 million of growth capital” from investors.
WestCap was the biggest contributor.
Simon was once part of Goldman Sachs. Goldman Sachs turned it into a separate company in 2018. About 100,000 financial professionals have access to the system.
The company’s system offers users access to products such as annuities, ETFs and structured investment products.
YuLife: $70 Million
YuLife — a London-based company that packages group life insurance and other benefits products together with wellness incentive programs — has raised $70 million from Target Global and other investors.
YuLife was founded in 2016, and it has placed about $15 billion in coverage.
YuLife says it will use the cash to develop new products, expand in the United Kingdom and enter more markets.
YuLife ties its incentive programs to “YuCoin,” a kind of virtual currency that benefits program participants can earn by completing wellness-related activities, such as walking and meditating.
B.Well Connected Health: $32 Million
A Baltimore-based health management system company, b.well Connected Health, has raised $32 million from HLM Venture Partners and other investors.
The company offers systems that can help health plans, health care provider organizations and other customers track people’s health and give people personalized suggestions about ways to improve their health.
The company says it will use the new funding to increase sales and develop new product features.
Assured Allies: $18.3 Million
Assured Allies, a Boston-based long-term care management services company, has raised $18.3 million.
The company was founded in 2018. It has developed a strategy for assigning older people an aging score, predicting how they will do over time, and recommending ways to improve the odds that those people will be able to live on their own as long as possible.
The biggest contributors to the new round of funding were Core Innovation Capital and New Era Capital Partners.