Sequoia-backed Ethos files for $1.3B IPO, aiming to raise $210M  — TFN

Virginia-based Ethos Applied sciences, a life insurance coverage know-how firm backed by prime enterprise capital companies, is getting ready to go public in the US and will increase greater than $200 million from its preliminary public providing (IPO).

The startup stated it plans to promote about 10.5 million shares at a value vary of $18 to $20 per share, studies Reuters. Based mostly on that vary, Ethos may very well be valued at roughly $1.26 billion when it begins buying and selling on the Nasdaq below the ticker image “LIFE.”

The providing consists of new shares issued by the corporate and current shares offered by early traders. Ethos goals to lift about $102 million from new shares and roughly $108 million from current shareholders.

Goldman Sachs and J.P. Morgan are main the IPO effort.

Democratising life insurance coverage

Based in 2016 by Peter Colis and Lingke Wang, Ethos has constructed a digital platform that makes it simpler for households throughout the US to purchase life insurance coverage on-line.

The corporate works with insurance coverage companions to simplify coverage distribution, underwriting, funds, and administration by know-how as an alternative of conventional paper-heavy processes.

The corporate’s platform focuses on velocity and comfort, serving to clients apply for all times insurance coverage with out intensive medical exams or prolonged varieties. This tech-driven method has helped the corporate increase its buyer base and entice long-term investor curiosity.

Ethos has drawn help from main enterprise traders over time. Its backers embrace Sequoia Capital, Accel, GV (Alphabet’s enterprise arm), SoftBank, and Common Catalyst, amongst others. A few of these traders are promoting shares within the IPO, whereas others are holding on to their positions.

The corporate’s enterprise has grown steadily. Within the 9 months ending September 2025, Ethos reported about $278 million in income and $46.6 million in internet revenue, up considerably in contrast with the earlier yr.

The IPO comes as insurers and monetary tech corporations return to public markets after a number of choices had been delayed by a protracted U.S. authorities shutdown in 2025.