Bestow raises $70 million in Series C

Dallas-based insurance startup offering term life insurance online Bestow announced a $70 million Series C funding round from new and existing investors, including Breyer Capital, Valar Ventures, New Enterprise Associates, Core Innovation Ventures, Morpheus Ventures and Sammons Financial.

Founded in 2016 and a team of ~124, Bestow has raised $145 million to date.

“While the adoption of technology has transformed many financial services, the life insurance industry lags far behind in its ability to appeal to a digital consumer. Bestow is a new breed of life insurer, built for future generations, with the ability to provide attractive products and services for our customers and partners. This funding allows us to propel our vision to scale protection to millions of underserved families.” – Melbourne O’Banion, Co-founder and CEO of Bestow.

“We strategically built Bestow’s digital infrastructure and services to support virtually any life insurance product across any channel. Beyond direct-to-consumer, Bestow provides fintechs, agents, carriers and more with the necessary tools to integrate life insurance products into their businesses seamlessly. This creates enormous opportunities for growth and engagement never seen before in our industry.” – Jonathan Abelmann, Co-Founder and President of Bestow.