Bestow Closes $120 Million Oversubscribed Series D Funding, Co-Led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital

Core Insights - Bestow Inc. has tripled its revenue in 2024, achieving a tenfold growth over the past two years, and anticipates continued exponential growth with profitability on the horizon [1][4] - The company successfully closed a $120 million oversubscribed Series D funding round, co-led by Goldman Sachs Alternatives and Smith Point Capital, along with a $50 million credit facility from TriplePoint Capital [1][2] Funding and Growth Strategy - The capital raised will be utilized for the development of new products and services, as well as to accelerate the expansion of Bestow's platform in the life and annuities sector [2] - Bestow plans to increase its workforce to meet the rising demand from enterprises [2] Market Position and Innovation - Bestow is positioned as a preferred partner for life insurance and annuity providers aiming to modernize and scale their operations [3] - The company is focused on accelerating product innovation to help the industry adapt to market trends and create competitive advantages through technology [3] Customer Retention and Performance Metrics - Bestow boasts a 100% customer retention rate and has experienced a 245% year-over-year increase in transaction volume [4] - The company has established partnerships with industry leaders such as Nationwide, Transamerica, USAA, and Sammons Financial Group, with more partnerships expected to be announced [4] Strategic Shift - The recent funding follows Bestow's divestiture of Bestow Life Insurance Company to Sammons Financial Group, marking a strategic shift to focus exclusively on enterprise solutions through its software platform [3]