Ethos Tech Valued Over $1B Ahead of Public Debut

Ethos Technologies is poised to become one of the first tech companies to go public this year, with its initial public offering scheduled for Thursday. The company's shares are currently priced between $18 and $20. At the higher end of this range, Ethos would achieve a valuation of $1.26 billion, raising approximately $102.6 million for itself and an additional $108 million for selling shareholders. Investor demand could potentially drive the price higher, increasing both its valuation and the funds raised.

This life insurance software provider boasts backing from prominent venture capital firms including Sequoia, Accel, GV, Softbank, and General Catalyst. Ethos achieved profitability some time ago, as detailed in its IPO documents. For the nine-month period concluding on September 30, the company reported nearly $278 million in revenue and a net income of just under $46.6 million.