Insurtech innovator Ethos Technologies is set to go public with an initial public offering aiming to raise over $200 million. The company plans to list on the Nasdaq under the ticker "LIFE," targeting a valuation of approximately $1.26 billion. This move marks a significant milestone for the firm, which has focused on modernizing the life insurance industry through its digital platform.
Details of the Public Offering
The offering will consist of 10.5 million shares, priced between $18 and $20 each, potentially raising up to $210.5 million. These shares are a mix of new issuances from Ethos and existing shares sold by early stakeholders. Based on this pricing, the company's valuation is expected to reach the $1.26 billion mark upon its market debut.
Leading the underwriting efforts are financial giants Goldman Sachs and J.P. Morgan, supported by a broad syndicate of managers. The company will list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "LIFE." This strategic listing aims to provide liquidity and access to public capital for future expansion and operational needs.
A Mission to Modernize Insurance
Founded in 2016 by Peter Colis and Lingke Wang, Ethos has built a platform to simplify the entire life insurance lifecycle. The company partners with insurers to digitize distribution, underwriting, and policy administration. This approach replaces traditional paper-based processes with a streamlined, technology-first model for consumers across the United States.
Ethos's platform prioritizes speed and convenience, allowing customers to apply for coverage without undergoing extensive medical exams or lengthy forms. This accessible, user-friendly experience has been instrumental in expanding its customer base and attracting investor interest. The company's model effectively democratizes access to essential financial protection for families.
Strong Financials and Investor Confidence
The company has demonstrated robust financial growth, reporting revenues of $344 million for the twelve months ending September 30, 2025. Ethos has also achieved profitability, recording a net income of $46.6 million in the first nine months of 2025. This performance is supported by the issuance of more than 480,000 policies through its platform.
The company's success has been fueled by backing from top-tier venture capital firms, including Sequoia Capital, Accel, and GV. The IPO will see some of these early investors selling a portion of their holdings, a common practice in such offerings. This strong investor pedigree has provided Ethos with the capital and strategic guidance needed to scale its operations.
Market Context and Timing
This public offering follows a delay from late 2025, when the company initially filed its IPO paperwork. The postponement was attributed to unfavorable market conditions caused by a prolonged U.S. government shutdown. Ethos's decision to proceed now reflects a more stable and receptive environment for new listings and investor confidence.
Ethos Technologies' upcoming IPO represents a pivotal moment for the company and a testament to the maturation of the insurtech sector. By entering the public markets, the firm will secure capital to fuel its mission of making life insurance more accessible. This transition will solidify its position as a leader in transforming a traditionally complex industry through innovation.