Ethos Technologies Makes a Splash with $200 Million IPO

Ethos Technologies has raised $200 million through a U.S. IPO, with shares priced at $19 each. The platform revolutionizes life insurance, boasting a significant revenue increase of 47% and over 500,000 activated policies. Ethos' shares will debut on Nasdaq under the ticker 'LIFE.'

Ethos Technologies and some of its shareholders have successfully amassed around $200 million in a U.S. initial public offering, as the insurance platform announced on Wednesday.

The company, along with its selling shareholders, sold 10.5 million shares priced at $19 each, aligning with the midway point of its target range of $18 to $20 per share. This IPO values Ethos at approximately $1.2 billion based on its prospectus details.

Backed by venture capital powerhouses Accel and Sequoia, Ethos claims its platform is a game-changer in the life insurance arena, offering swift coverage acquisition opportunities, shifting from months to mere minutes. IPO activity is anticipated to rise by 2026 following the recent pandemic-induced slowdown, fueled by robust market trading levels, improved investor risk appetite, and venture capitalists seeking profitable exits.

The insurance sector continues to attract substantial interest from IPO investors, reaching a 20-year pinnacle on Wall Street in 2025, driven by remarkable revenue growth and the 'tariff-proof' nature of the industry. Life insurance has become especially appealing due to its stable revenue, strong consumer demand, and maintained pricing power amidst economic downturns.

Ethos saw its revenue grow by approximately 47% to reach $277.5 million for the first nine months ending September 30, a significant leap from $188.4 million in the previous year. The company has issued over 500,000 policies since inception, with over 10,000 active selling agents and multiple carriers currently engaged on its platform.

Ethos' shares are set to trade on the Nasdaq, under the ticker symbol 'LIFE,' starting Thursday. Top financial players Goldman Sachs and J.P. Morgan spearheaded the IPO underwriting.

(With inputs from agencies.)