The round was led by New Enterprise Associates (NEA), with the participation of Core Innovation Capital, Morpheus Ventures and 8VC. This is the first institutional round of Bestow, bringing its total funding raised to $3 since its inception in 2016. 1 million dollars
Bestow was founded by entrepreneurs Melbourne O’Banion and Jonathan Abelmann to launch a consumer-first life insurance solution based on analytics and technology. Bestow aligns with customers by reducing friction and cost and providing top-notch financial products.
“Most Americans see life insurance as a valuable financial product, yet millions remain uncovered due to legacy friction and complexity caused by the current model,” said Melbourne O’Banion, CEO of Bestow. “We set out to build a better model and solve this gap in coverage By developing new products and leveraging technology, we are introducing a completely new way of making life insurance accessible and affordable to all. “That’s right.
Today, 85% of Americans believe they should have life insurance, but only 41% actually have life insurance. Among the many reasons why more consumers do not have life insurance, lack of understanding, perceived costs and the difficulty of purchasing consistently top of the list In the near future, Bestow will launch a comprehensive solution to enable users to learn, apply, purchase and manage coverage needs on demand. By eliminating the need for face-to-face interaction, including agent and medical examination requirements, and by reinventing products to optimize online purchases, Bestow compresses what used to take hours to minutes.
“The alignment of Bestow with customers is only enhanced by technology,” said Jonathan Abelmann, President of Bestow. “Our full-stack solution delivers more seamless user experience alongside deep analytics to drive product development, resulting in better value and happy customers over time. We’re excited to see our investors join us as we build a best-in-class team and revolutionize how people prepare for their financial future. “That’s right.
“Traditionally, the barriers to consumer access to life insurance have been extremely high,” said Rick Yang, Partner at NEA. “Bestew has a new approach that uses technology and unique products to make it easier and affordable for more people to get the protection they need from a trusted source. We look forward to working with the company as they democratize access to life insurance “That’s right.
Stay tuned for more information, as Bestow expects to be launched this fall. In the meantime, please go to https://www Greetings Com/Learn more
About Bestowing:
Bestow is revolutionizing the approach to life insurance, helping this generation to secure a financial future for themselves and their families. Bestow is the first comprehensive solution for digital life insurance The company provides simple products, algorithmic underwriting and data-driven financial solutions in a pooled, streamlined user experience. For more information on Bestow, please visit https://www Greetings Com/Com
NEA: About:
New Business Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational enterprises across multiple phases, sectors and geographies. With more than $20 billion in cumulative committed capital since its founding in 1977, NEA is investing in technology and healthcare companies at all stages of the company’s lifecycle, from the seed stage to the IPO stage. The company’s long record of successful investment includes more than 210 IPO portfolio companies and more than 360 acquisitions. For more information, please visit www No. Nea Come on,
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Bestow/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
