Sequoia, Accel-backed Ethos Technologies seeks $1.3 billion valuation in US IPO

Company Overview - Ethos Technologies is a life insurance technology company founded in 2016 by Peter Colis and Lingke Wang, aiming to provide life insurance to families across the U.S. through its platform [3] - The company is backed by venture capital firms Accel and Sequoia, and it previously raised $100 million in a funding round from SoftBank at a valuation of $2.7 billion [4] IPO Details - Ethos is targeting a valuation of up to $1.26 billion in its upcoming U.S. initial public offering (IPO) [1] - The company plans to sell 10.5 million shares priced between $18 and $20 each, aiming to raise up to $210.5 million [1] - Ethos will list on the Nasdaq under the symbol "LIFE" [4] Financial Performance - For the nine months ended September 30, Ethos reported a net income of $46.6 million on revenue of $277.5 million, compared to a net income of $39.3 million on revenue of $188.4 million in the same period the previous year, indicating significant growth [4] Market Context - The insurance IPO market reached a 20-year high in 2025, driven by investor interest in companies insulated from economic uncertainties, such as trade wars [2] - Ethos is part of this trend, with its offering including 5.1 million shares from the company and 5.4 million shares from existing shareholders, including Alphabet's venture capital arm GV and General Catalyst [2]