Ethos is an insurance technology company focused on online life insurance. It uses software, machine learning, and data science to streamline purchasing and underwriting for customers and insurers.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$2.7B
Series D, Jan 2022, Perplexity
UpMarket Estimate
$2.3B
Based on UpMarket valuation model
Previous Price
$850M
Series C May 2020
How to Invest in Ethos Life Through UpMarket
Ethos Life shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Ethos Life offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Jan 2022
Series D
$2.7B
May 2020
Series C
$850M
Mar 2019
Series B
$400M
Jul 2018
Series A
$100M
Why Investors Are Watching Ethos Life
Growth Signal
Ethos reported about $278M nine-month 2025 revenue, up 55%
Dealroom says Ethos generated about $278 million in revenue for the first nine months of 2025, a 55% increase year over year. The company also has about 750 employees and has raised $414 million across six funding rounds.
Market Opportunity
Ethos aimed to issue $20B in life insurance policies in 2021
Contrary Research said Ethos was on track in 2021 to issue $20 billion in life insurance policies and approach $100 million in annualized growth profit. That scale shows a large addressable market for online, commission-based life insurance distribution.
Product Milestone
Ethos says its design process uses data, testing, and MVPs
Ethos says product development starts with user research, analytics, and tools like FullStory to form testable hypotheses. The company then uses moderated testing, unmoderated testing, and A/B testing before iterating from a minimum viable product.
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No. As of March 2026, Ethos Life is a private company and does not trade on any public stock exchange. Accredited investors can access Ethos Life shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Ethos Life does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Ethos Life shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Ethos Life shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Ethos is a technology-driven online life insurance platform, reporting about $278M in nine-month 2025 revenue, up 55%, with a $2.3B valuation — accredited investors can access Ethos Life stock through UpMarket.