Showbiz stars know that insurance pays
The company isn’t a well-known name in Silicon Valley – but its investors certainly are. San Francisco-based Ethos Technologies was founded last year as the product of two Stanford MBAs. The company’s core product is a streamlined and affordable process for buying ‘term insurance’, which pays out benefits if the insured dies within a certain time frame. Ethos has just raised $11.5m (€9.8m) in a round led by Silicon Valley luminary Sequoia Capital. Other investors in the round, however, were less predictable, including the venture fund of rapper Jay-Z’s entertainment company Roc Nation, Downey Ventures, owned by Robert Downey Jr (pictured), basketball star Kevin Durant’s Durant Co and Will Smith’s Smith Family Circle.