Cooley LLP advised Ethos on the deal.
Ethos, an insurtech company that’s transforming the life insurance space, announced its $200 million Series D financing round, which brings its valuation to more than $2 billion.
General Catalyst led the round, which also included participation from existing investors Sequoia Capital, Accel and GV, as well as rapper Jay-Z’s Roc Nation, Glade Brook Capital Partners and the investment vehicles of actors Will Smith and Robert Downey Jr. Ethos will use the new capital to fund growth, including new product offerings.
Ethos makes getting coverage easy and accessible for millions of families by using deep technology and data science to eliminate traditional barriers to life insurance and bring the industry into the modern age. Year-over-year, its revenue and users have each grown by more than 500%, and it expects to issue $20 billion of life insurance coverage this year, surpassing all competitors as it achieves its mission to provide life insurance for everyone.
The Cooley team was led by Seth Gottlieb (Picture), Matthew Bartus and Emily Iannarelli. It also included John Sellers, Chris Kimball, Joshua O. Mates, Sharon Connaughton, Rebecca Ross, Nareg Essaghoolian, Andrew Epstein, Patrick Stewart, Kris Kleiner and William J. Boyle.
Involved fees earner: Matthew Bartus – Cooley LLP; Sharon Connaughton – Cooley LLP; Andrew Epstein – Cooley LLP; Nareg Essaghoolian – Cooley LLP; Seth Gottlieb – Cooley LLP; Emily Iannarelli – Cooley LLP; Christopher Kimball – Cooley LLP; Kristopher Kleiner – Cooley LLP; Joshua Mates – Cooley LLP; Rebecca Ross – Cooley LLP; John Sellers – Cooley LLP; Patrick Stewart – Cooley LLP;
Law Firms: Cooley LLP;
Clients: Ethos Technologies Inc.;