Ethos Technologies recorded a 55 per cent jump in revenue in the first half of 2025, according to its U.S. initial public offering paperwork filed on Friday, as the insurance IPO market continues its hot streak.
The San Francisco, California-based life insurance platform is the latest insurer seeking to tap the new listings market, with nearly half a dozen peers going public in New York since May.
Ethos and certain existing shareholders plan to sell shares in the offering, according to the filing.
Insurtech Exzeo on Thursday also publicly filed to go public in New York.
In the six months ended June 30, Ethos posted net income of $30.7 million on revenue of $183.7 million, up from net income of $18.7 million on revenue of $118.6 million a year earlier.
Founded in 2016 by Peter Colis and Lingke Wang, Ethos works with carriers to offer life insurance to families across the U.S. via its platform.
The company has expanded into new insurance and estate-planning products over time, and activated policies on its platform rose 70 per cent to 94,405 in the first half of 2025.
In 2021, Ethos raised $100 million from Japanese investment conglomerate SoftBank at a $2.7 billion valuation.
Top shareholders include venture capital firms Sequoia Capital and Accel, as well as Alphabet-backed GV.
Goldman Sachs and J.P. Morgan are the lead underwriters for the offering. Ethos will list on the Nasdaq under the symbol “LIFE.”
