Ethos Technologies (LIFE) priced its IPO at $19.00 – the mid-point of its $18.00-to-$20.00 range – and sold 10.53 million shares – the number in the prospectus – to raise $200 million on Wednesday night, Jan. 28, 2026. Ethos, based in San Francisco, is a life insurance tech platform that enables most applicants to get life insurance without a medical exam – in about 10 minutes, the prospectus said.
Ethos Technologies (LIFE) is expected to start trading today – Thursday, Jan. 29,2026 – on NASDAQ.
Goldman Sachs and J.P. Morgan led the book-running team. BofA Securities, Barclays, Citigroup, and Deutsche Bank Securities acted as book-running managers. Citizens Capital Markets, William Blair, and Baird served as the co-managers.
Of the 10.53 million shares in the IPO, about 5.13 million shares were offered by Ethos and 5.4 million shares were offered by the selling shareholders. The company will not receive any proceeds from the sale of the selling shareholders’ stock.
Two big VC funds – Accel and Sequoia Capital – Ethos’ two largest stockholders – will control Ethos after the IPO. Together, Accel and Sequoia will own stakes representing 56.7 percent of the voting power of Ethos’ outstanding stock, the prospectus said.
Ethos’ co-founders – CEO Peter Colis and President Lingke Wang – were roommates while at Stanford Business School. After the IPO, they will control stock with about 38.7 percent of the voting power, the prospectus said.
Since the company’s inception in July 2016, “we have activated over 500,000 policies, and as of September 30, 2025, we had over 10,000 active selling agents and several active carriers on our platform,” the prospectus said.
Ethos became profitable in the year ending Dec. 31, 2023, the prospectus said.
For the 12 months that ended Sept. 30, 2025, Ethos reported net income of $56.14 million on revenue of $344.06 million, according to financial statements in the prospectus.
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