Jan 28 (Reuters) – Ethos Technologies and some of its shareholders raised about $200 million in an initial public offering in the United States, the insurance platform said on Wednesday.
The company and selling shareholders sold 10.5 million shares at $19 each, the midpoint of their target range of $18 to $20 per share.
The IPO valued Ethos at around $1.2 billion, based on the number of outstanding shares mentioned in its prospectus.
Ethos, backed by venture capital firms Accel and Sequoia, said its platform and underwriting engine transform the buying, selling and risk management of life insurance, helping customers get coverage in minutes instead of months.
Listings are expected to accelerate in 2026, following a multi-year slowdown and partial recovery last year, as markets trade at record levels, investors’ risk appetite improves and venture capital firms look for exits.
The insurance sector has also attracted steady demand from IPO investors, and in 2025 listings hit a 20-year high on Wall Street, driven by strong revenue growth and the “tariff-proof” nature of the industry.
Investor appetite for the life insurance sector has increased, attracted by recurring revenue, resilient consumer demand and pricing power, even during economic downturns.
Ethos’ revenue rose about 47% to $277.5 million in the nine months ended Sept. 30, compared with $188.4 million in the same period a year earlier.
The firm said it has activated more than 500,000 policies since its inception and, as of September 30, had more than 10,000 active sales agents and several active operators on its platform.
The company’s shares will begin trading on the Nasdaq under the symbol “LIFE” on Thursday.
Goldman Sachs and JP Morgan are the lead underwriters of the IPO.
(Reporting by ‌Bipasha Dey and Manya Saini in Bengaluru; Editing by Subhranshu ‌Sahu, Alan Barona and Rashmi Aich)