Digital Life Insurance Company Ladder Climbs With $100 Million Series D

<p><strong><span class&equals;"xn-location">PALO ALTO<&sol;span><&sol;strong> &&num;8212&semi; <u>Ladder<&sol;u>&comma; which offers flexible life insurance in minutes&comma; has raised a <span class&equals;"xn-money">&dollar;100 million<&sol;span> Series D round&period; The company says it has more than quadrupled revenue last year and plans to issue <span class&equals;"xn-money">&dollar;30 billion<&sol;span> in LadderLife coverage by year end&period;<&sol;p>&NewLine;<p>The <span class&equals;"xn-money">&dollar;100 million<&sol;span> financing round was led by <u>Thomvest Ventures<&sol;u> and <u>OMERS Growth Equity<&sol;u>&period; It will be used to help grow the Ladder team&comma; which has plans to more than double next year&period; Ladder offers up to &dollar;8 million in life insurance coverage in all 50 states&period;<&sol;p>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>Ladder is also announcing that it has become <b>the first fully digital life insurance company in operation<&sol;b>&comma; after issuing its first policies through Ladder Life Insurance Company&period; Since 2017&comma; Ladder has rebuilt every step of the life insurance stack&comma; enabling key innovations across acquisition&comma; product design&comma; user experience&comma; underwriting&comma; instant issue&comma; and policy administration&period; The addition of its fully operational carrier makes Ladder the first 100&percnt; vertically integrated life insurtech&comma; built on a proprietary technology platform and powered by ever-compounding machine learning models&period;<&sol;p>&NewLine;<&sol;div>&NewLine;<div class&equals;"col-sm-10 col-sm-offset-1">&NewLine;<p>&&num;8220&semi;I know first hand how life insurance can change a life&comma;&&num;8221&semi; said <span class&equals;"xn-person">Jamie Hale<&sol;span>&comma; CEO and Co-Founder at Ladder&period; &&num;8220&semi;With our carrier in operation and this new round of funding&comma; we are in the position to greatly accelerate innovation in service of families and communities&period; I am so excited to see our original vision continue to materialize&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;The world is only becoming more digital&comma; not less&comma; and the life insurance industry to-date has been slow to modernize&comma;&&num;8221&semi; said <span class&equals;"xn-person">Don Butler<&sol;span>&comma; Managing Director&comma; Thomvest Ventures&period; &&num;8220&semi;We are excited to invest in Ladder&&num;8217&semi;s vision to build the digital life insurance company of tomorrow&comma; and their announcement today that they are the first in operation shows that they are outpacing the industry&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;<span class&equals;"xn-person">Jamie Hale<&sol;span> and his visionary management team are building Ladder into an innovative&comma; market-leading digital life insurance company&comma;&&num;8221&semi; said <span class&equals;"xn-person">Saar Pikar<&sol;span>&comma; Managing Director and fintech lead&comma; OMERS Growth Equity&period; &&num;8220&semi;We are very pleased to count Ladder as OMERS Growth Equity&&num;8217&semi;s first direct fintech investment – as well as our entry in the insurtech space&comma; expanding on the insurtech presence established by our OMERS Ventures colleagues&period; We believe that the company offers a truly transformative approach&comma; including through its efficient adjudication of risk and enhanced user experience&comma;&&num;8221&semi; he added&period;<&sol;p>&NewLine;<&sol;div>&NewLine;