Life insurance platform Ethos Technologies sets terms for $200 million IPO
January 29, 2026 News
Ethos Technologies prices IPO at $19, within the range
Ethos Technologies, which provides an online life insurance marketplace and analytics platform, raised $200 million by offering 10.5 million shares at $19, within the range of $18 to $20. At the pricing, the company commands a fully diluted market value of $1.3 billion.
IPO Overview
Ethos Technologies, which provides an online life insurance marketplace and analytics platform, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $200 million by offering 10.5 million shares （51% secondary） at a price range of $18 to $20. At the midpoint of the proposed range, Ethos Technologies would command a fully diluted market value of $1.3 billion.
The company operates a digital platform that integrates distribution, underwriting, policy issuance, payments, and administration for life insurance. The platform processes applications and servicing for consumers, provides agents with sales and policy management tools, and supports carriers with underwriting and administration. As of September 30, 2025, 480,000 policies have been activated on the platform.
Ethos Technologies was founded in 2016 and booked $344 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol LIFE. Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Citi, Deutsche Bank, Citizens JMP, William Blair, and Baird are the joint bookrunners on the deal. It is expected to price during the week of January 26, 2026.
About the Company
Our mission is to protect families by democratizing access to life insurance and empowering agents at scale. To achieve this mission, we built Ethos, a three-sided technology platform that transforms the buying, selling, and risk management experience of life insurance for consumers, agents, and carriers alike. Through our three-sided technology platform, we serve a growing ecosystem of consumers, agents, and carriers, each of which benefits from the scale, ease-of-use, and efficiency of our platform. This creates strong network effects that drive our continued growth. Since inception, we have activated over 450,000 policies, and as of June 30, 2025, we had over 10,000 active selling agents and several active carriers on our platform. Our technology platform is fully digital and vertically integrated. We simplify the insurance value chain from distribution to underwriting, activation, payments, and administration. Combining key elements of the insurance sales and administrative process into a singular platform enables us to build insurance products quickly, dynamically adjust underwriting and pricing, and rapidly iterate to deliver a delightful consumer and agent experience. Our proprietary underwriting engine leverages predictive and real-time data acquired with the consent of the applicant to create a bespoke information graph that allows us to instantly assess risk and deliver quick, competitively priced policies with high approval rates.