Ethos Raises $100 Million: Financing Moves

News July 29, 2021 at 12:40 PM
Share & Print

Ethos, an online life insurance agency, has received $100 million in capital from SoftBank Vision Fund 2.

The San Francisco-based company raised $200 million in May, and it has raised a total of $400 million since it came to life in 2017.

Ethos has offices in Austin, Texas, and Singapore. It sells life insurance policies written by Legal & General America's Banner Life Insurance Company, Ameritas Life Insurance Corp., AAA Life Insurance Company and CMFG Life Insurance Company.

Simon: $100 Million

Simon Markets, a New York-based company that has created an online financial services exchange, has completed the first part of an effort to raise "up to $100 million of growth capital" from investors.

WestCap was the biggest contributor.

Simon was once part of Goldman Sachs. Goldman Sachs turned it into a separate company in 2018. About 100,000 financial professionals have access to the system.

The company's system offers users access to products such as annuities, ETFs and structured investment products.

YuLife: $70 Million

YuLife — a London-based company that packages group life insurance and other benefits products together with wellness incentive programs — has raised $70 million from Target Global and other investors.

YuLife was founded in 2016, and it has placed about $15 billion in coverage.

YuLife says it will use the cash to develop new products, expand in the United Kingdom and enter more markets.

YuLife ties its incentive programs to "YuCoin," a kind of virtual currency that benefits program participants can earn by completing wellness-related activities, such as walking and meditating.

B.Well Connected Health: $32 Million

A Baltimore-based health management system company, b.well Connected Health, has raised $32 million from HLM Venture Partners and other investors.

The company offers systems that can help health plans, health care provider organizations and other customers track people's health and give people personalized suggestions about ways to improve their health.

The company says it will use the new funding to increase sales and develop new product features.

Assured Allies: $18.3 Million

Assured Allies, a Boston-based long-term care management services company, has raised $18.3 million.

The company was founded in 2018. It has developed a strategy for assigning older people an aging score, predicting how they will do over time, and recommending ways to improve the odds that those people will be able to live on their own as long as possible.

The biggest contributors to the new round of funding were Core Innovation Capital and New Era Capital Partners.

Wilton Re, a reinsurer, also participated in the funding round.

Assured Allies says it will use the new cash to develop programs that combine wellness programs for older people with insurance products.

Agentero: $13.5 Million

Agentero — an Oakland, California-based insurance distribution system company — has raised $13.5 million from Alma Mundi Ventures and other investors.

The company was founded in 2017. Its system can help independent agents decide what products to offer clients and generate quotes. The system offers agents access to life insurance products along with property and casualty insurance products.

Connie Health: $13 Million

A Boston-based Medicare plan broker, Connie Health, has raised $13 million.

The biggest contributors to the new round of funding were Khosla Ventures and Pittango Healthtech.

Connie Health received $3 million from Khosla Ventures in January 2020.

Connie Health offers consumers access to a digital Medicare plan shopping system and to local, live-human agents. The company now operates in Arizona and is expanding into Arizona. The company says it will use the new funding to expand into more markets. The company plans to launch in Illinois this year and to go national next year.

Banjo Health: $5 Million

Banjo Health — a Washington-based prior authorization software company — has raised $5 million.

The Banjo system can help health insurers tell health care providers and patients why the insurers are approving or denying requests for payment for specific types of care.

Pharmacy benefits managers can also use the system, to explain their decisions about coverage for high-cost drugs.

The largest contributor to the new round of funding was Epsilon Health Investors. Spark Growth Ventures and Tau Ventures also participated.

Banjo Health says it will use the new funding to market its systems to health plans.

The company also wants to offer its systems to health care providers.

Shortly after Banjo Health announced the new round of funding, it reported that it had signed AscellaHealth as a client.

AscellaHealth helps health plans manage patients' access to drugs and other forms of treatment.

(Image: Atstock Productions/Shutterstock)

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center