Backers included Breyer Capital, Valar Ventures, New Enterprise Associates, Core Innovation Ventures, Morpheus Ventures and Sammons Financial.
The company intends to use the funds to launch innovative products, scale platform services, and accelerate growth into new distribution channels and partnerships.
Led by Melbourne O’Banion, Co-founder and CEO, and Jonathan Abelmann, Co-Founder and President, Bestow provides a digital life insurance platform to make coverage accessible to people in minutes instead of months. Its full-stack platform will accelerate growth into new insurtech, carrier and partner channels in 2021. In addition to sales rising more than 450% year-over-year, the company has recently invested in key growth initiatives, including acquiring a nationally-licensed carrier, launching Protect API™, expanding into fintech and independent agent channels, and hiring over 70 new team members this year. Hires include Chief Distribution Officer Steve Robinson, Chief Fi
Bestow Announces $70 Million in Series C Funding
The life insurance innovator readies for product, partner and platform expansion, with $145 million in total funding to date.
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DALLAS, Dec. 16, 2020 /PRNewswire/
Bestow, the first full-stack life insurance company, announced today a $70 million Series C funding round to help expand access to life insurance. With $145 million in total funding secured to date, Bestow will launch innovative products, scale platform services, and accelerate growth into new distribution channels and partnerships. This funding round came from new and existing investors, including Breyer Capital, Valar Ventures, New Enterprise Associates, Core Innovation Ventures, Morpheus Ventures and Sammons Financial.