Show­biz stars know that in­sur­ance pays

Irish Independent - - Business -

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.

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