Contributed image
Contributed image
Dallas-based Bestow, a fully digital life insurance company, has announced a $70 million Series C funding round that was provided by investors.
The startup originated three years ago. Since then, the insurance company has raised $145 million in an effort to stay afloat during the COVID-19 crisis. Bestow officials say the new round will extend access to life insurance with the new product, partnership, and platform extension.
“While the adoption of technology has transformed many financial services, the life insurance industry lags far behind in its ability to appeal to a digital consumer,” Melbourne O’Banion, co-founder and CEO of Bestow, said in a press release. “Bestow is a new breed of life insurer, built for future generations, with the ability to provide attractive products and services for our customers and partners.”
The investments came from new and existing investors, including Valar Ventures, Breyer Capital, New Enterprise Associates, Morpheus Ventures, Core Innovation Ventures and Sammons Financial.
Alerts Sign-up