"Ethos Technologies has priced its initial public offering and the expectation is that it will go public on Thursday, making it one of the first tech IPOs of the year. If it lands in its current price range of $18 to $20 a share, it will enter the day valued at $1.26 billion on the high end - raising $102.6 million for itself and about $108 million for its selling shareholders."
"The company, which offers software to sell life insurance, is backed by Sequoia, Accel, Alphabet's venture capital arm GV, Softbank, General Catalyst, and Heroic Ventures. Sequoia and Accel are not selling shares in the IPO, the company disclosed. Ethos was a rising startup star in the pre-AI era, raising one big round after another through 2021. In its early rounds, it was backed by a who's who of family offices, including those of Will Smith, Robert Downey Jr., Kevin Durant, and Jay Z,"
Ethos Technologies plans to go public after pricing its IPO at $18 to $20 per share, which would value the company at up to $1.26 billion and raise about $102.6 million for the company plus roughly $108 million for selling shareholders. Strong investor demand could push pricing higher, increasing valuation and proceeds. Ethos provides software to sell life insurance and counts investors including Sequoia, Accel, GV, Softbank, General Catalyst, and Heroic Ventures; Sequoia and Accel are not selling shares. Ethos reached a $2.7 billion valuation in 2021 after raising about $400 million and remains profitable, generating nearly $278 million in revenue and about $46.6 million in net income in the nine months ending September 30.
Read at TechCrunch
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