Ethos raised fresh funds in a Series C round led by GV, Alphabet's venture arm, and backed by Goldman Sachs.
. Existing investors Sequoia Capital and Accel also invested; Ethos also counts Jay Z, Will Smith and Robert Downey Jr as backers.
Ethos offers term insurance, which pays out benefits if the claimant dies within a length of time that typically ranges from 10 to 30 years. The company uses data analytics to predict a person's life expectancy, and claims the vast majority of its customers don't have to take a medical test to be eligible for coverage.
The firm is now valued at nearly $500 million, its co-founder and CEO Peter Colis told CNBC in an interview, up from a more-than $100 million valuation it reached after a funding round announced. The company has also quadrupled its revenues since then, and increased its staff headcount from 30 people to about 90. The new funding brings Ethos' total raised to more than $100 million.
"There is a massive under-penetration of life insurance," Colis said. "The families that are financially vulnerable are the ones who need it most. Ethos is able to democratize that system and open access to everyone. I think all these investors resonated by seeing there's a real opportunity to make an impact."
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