Ladder Financial Raises $100M
The 4-year-old, Palo Alto, California-based company offers up to $8 million in coverage through an online sales process.
A digital term life broker has raised $100 million from institutional investors.
The broker, Ladder Financial, said Monday that that the biggest sources of capital were Thomvest Ventures and Omers Growth Equity.
Ladder is a 4-year-old, Palo Alto, California-based company that bills itself as a “full-stack digital life insurance company.”
It sells term life insurance from Fidelity Security Life Insurance Co. and Allianz Life Insurance Co. of North America in most of the country and through Allianz Life Insurance Co. of New York in that state.
The company has also acquired a life insurance company of its own, Fremont Life Insurance Co., and changed the name of the insurer to Ladder Life Insurance Co.
Ladder offers up to $8 million in coverage through an online sales process that encourages purchasers to build up, or ladder, life insurance coverage when new needs arise.
Recently, the company announced an agreement to make some of its technology, including its quote tool and an insurance calculator, available through Redtail Technology, a customer relationship management company.
Jamie Hale, Ladder’s CEO, said in a comment about the financing round that he knows firsthand how life insurance can change a life. “With our carrier in operation and this new round of financing, we are in a position to greatly accelerate innovation in service of families and communities,” he said.
Jamie Hale (Photo: Ladder)