- Ladder — a company that offers flexible life insurance in minutes — announced a $100 million Series D round of funding. These are the details.
Ladder — a company that offers flexible life insurance in minutes — announced a $100 million Series D round of funding to continue building the digital life insurance company of tomorrow. This funding round follows strong growth from the technology company, which more than quadrupled revenue last year and plans to issue $30 billion in LadderLife coverage by year-end. And this funding round values the company at $900 million according to TechCrunch’s sources.
Ladder also announced that it has become the first fully digital life insurance company in operation after issuing its first policies through Ladder Life Insurance Company. And since 2017, Ladder rebuilt every step of the life insurance stack, enabling key innovations across acquisition, product design, user experience, underwriting, instant issue, and policy administration. The addition of its fully operational carrier makes Ladder the first 100% vertically integrated life insurtech, built on a proprietary technology platform and powered by ever-compounding machine learning models.
The $100 million funding round was led by Thomvest Ventures and OMERS Growth Equity. And it will be used to fuel Ladder’s innovative approach to making life insurance as accessible, affordable, and beloved as it should be — as well as growing the Ladder team, which has plans to more than double next year.
KEY QUOTES:
“I know first hand how life insurance can change a life. With our carrier in operation and this new round of funding, we are in the position to greatly accelerate innovation in service of families and communities. I am so excited to see our original vision continue to materialize.”
— Jamie Hale, CEO and Co-Founder at Ladder
“The world is only becoming more digital, not less, and the life insurance industry to-date has been slow to modernize. We are excited to invest in Ladder’s vision to build the digital life insurance company of tomorrow, and their announcement today that they are the first in operation shows that they are outpacing the industry.”
— Don Butler, Managing Director, Thomvest Ventures
“Jamie Hale and his visionary management team are building Ladder into an innovative, market-leading digital life insurance company. We are very pleased to count Ladder as OMERS Growth Equity’s first direct fintech investment – as well as our entry in the insurtech space, expanding on the insurtech presence established by our OMERS Ventures colleagues. We believe that the company offers a truly transformative approach, including through its efficient adjudication of risk and enhanced user experience.”
— Saar Pikar, Managing Director and fintech lead, OMERS Growth Equity
