Ethos, an American insurtech start-up, has raised $35m in a Series B funding round led by Accel and backed by Google’s venture capital arm.
The latest round was also joined by Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a debt facility from Silicon Valley Bank.
The funding comes less than five months after the San Francisco-based company emerged from stealth and announced an $11.5m Series A raise.
As part of the latest financing, Accel Partner Nate Niparko will join the Ethos board of directors while Google Ventures general partner Tyson Clark will serve as an advisor to the board.
The latest capital rise brings the company’s total funding to over $46m.
Ethos intends to use the funds to strengthen its operations to meet the growing demand from customers.
Leveraging technology, predictive analysis and data science, Ethos aims to simplify the buying of life insurance.
Founded in September 2016, the life insurance startup has grown its revenue, customers and applications by over 400% in just the last four months.
Ethos, in collaboration with Assurity Life Insurance Co of Lincoln and Munich Re, is licensed to offer life insurance services across 49 states in the US.