Bestow raises $120 million

Bestow has raised $120 million in a Series D funding round co-led by Goldman Sachs Alternatives and Smith Point Capital, with participation from new and existing investors. The round includes both primary and secondary investments. In addition, Bestow secured a $50 million credit facility from TriplePoint Capital.

The capital will support product development and help scale Bestow’s software platform for life insurance and annuities. The company plans to grow its workforce to meet enterprise demand.

Bestow, which divested its direct-to-consumer life insurance arm to Sammons Financial in 2024, is now focused entirely on powering insurers through its end-to-end platform. Partners include Nationwide, Transamerica, USAA, and Sammons Financial.