Ethos files for IPO

Life insurance startup Ethos Technologies filed for a US initial public offering.

The San Francisco-based company had net income of $30.7 million on revenue of $183.7 million for the first six months of the year, compared with net income of $18.7 million on revenue of $118.6 million in the same period last year.

The company says that it issued over 450k policies since launching.

The company’s DTC channel generated revenue of $119 million and $174 million, accounting for 75% and 68% of its total revenue for the years ended December 31, 2023 and 2024, respectively. The third-party channel (agencies) generated revenue of $41 million and $81 million, accounting for 25% and 32% of its total revenue for the years ended December 31, 2023 and 2024, respectively.

Founded in 2016, Ethos publicly disclosed $414 million in funding and was last valued at $2.7 billion.