Ethos Technologies, which provides an online life insurance marketplace and analytics platform, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $200 million by offering 10.5 million shares (51% secondary) at a price range of $18 to $20. At the midpoint of the proposed range, Ethos Technologies would command a fully diluted market value of $1.3 billion.
The company operates a digital platform that integrates distribution, underwriting, policy issuance, payments, and administration for life insurance. The platform processes applications and servicing for consumers, provides agents with sales and policy management tools, and supports carriers with underwriting and administration. As of September 30, 2025, 480,000 policies have been activated on the platform.
Ethos Technologies was founded in 2016 and booked $344 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol LIFE. Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Citi, Deutsche Bank, Citizens JMP, William Blair, and Baird are the joint bookrunners on the deal. It is expected to price during the week of January 26, 2026.
