Bestow

Bestow

Digital platform for life insurance underwriting

Overview

Bestow is a digital life insurance platform that uses underwriting technology to speed the insurance application process and manage the full policy lifecycle from origination to administration. Customers can buy affordable life coverage starting around $11 per month, with most applications receiving an instant decision through a quick, simple online experience. The company also provides data solutions that enrich customer data and support targeted audience segmentation and more efficient marketing and product routing. Compared with traditional insurers, Bestow combines a fully online workflow, rapid underwriting, and cost efficiencies to launch new products quickly and reduce costs. Its goal is to make life insurance easy to obtain, affordable, and fast through a data-driven, digital platform that improves customer satisfaction and scales with demand.

About Bestow

Simplify's Rating
Why Bestow is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Enterprise Software

Financial Services

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$307.5M

Headquarters

Dallas, Texas

Founded

2017

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Simplify's Take

What believers are saying

  • May 2025 raised $120 million plus $50 million credit facility for expansion.
  • 2026 Labs launch targets AI-native products, with Chad Hersh leading first release.
  • Meagan Ward joined April 2026, strengthening brand and carrier-partnership go-to-market execution.

What critics are saying

  • Bestow still relies on insurer modernization cycles; stalled carrier budgets delay revenue.
  • 2022 layoffs showed fragile staffing economics when markets tightened.
  • Ethos, Ladder, and Fabric pressure Bestow's consumer relevance and pricing power.

What makes Bestow unique

  • Bestow Labs separates AI-native experimentation from regulated carrier systems.
  • Goldman Sachs-backed Bestow spans digital new business, underwriting, and policy administration.
  • Nationwide, Transamerica, USAA, Sammons Financial, and Equitable validate enterprise credibility.

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Funding

Total Funding

$307.5M

Above

Industry Average

Funded Over

6 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$120M
Bestow

Benefits

Competitive salary

Equity

Annual bonus based on company and individual performance

Flexible PTO plan

Medical, dental, & vision insurance

Paid parental leave

Annual lifestyle spending account

Flexible work-from-home policy

Learning & development opportunities

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

-1%

2 year growth

-8%
Dallas Next
Aug 6th, 2026
Bestow Launches lab team as carriers push to modernize.

Bestow Launches lab team as carriers push to modernize. The Dallas-based insurance innovator has created 'a sandbox to experiment' with AI-native product development separate from the regulated infrastructure on which top carriers depend. Bestow Co-Founders Melbourne O'Banion, CEO, left, and Jonathan Abelmann, president, sit in their Dallas office. [Photo: Bestow] Dallas-based Bestow has formed a dedicated team called Bestow Labs to build AI-native products for life insurance and annuity carriers, deliberately separating that work from the production systems its clients depend on. Chad Hersh, who joined Bestow as head of AI solutions from Amazon, is leading the group's first product. Hersh led global life insurance market development at AWS, and he's worked on technology transformation across the insurance landscape. The company is not yet disclosing details about the product but said it is targeting release later this year. Co-founder and CEO Melbourne O'Banion said in an interview with Dallas Innovates that the separate structure of Bestow Labs is crucial. Insurance is heavily regulated, and Bestow's carrier-facing infrastructure has to stay stable and compliant. "Separating Labs from production gives our team a sandbox to experiment with AI-native approaches, take bigger swings, and move fast, without any of that risk touching carrier-facing systems," O'Banion said. "Nothing graduates out of Labs until it's proven out. That separation is what lets us be ambitious on the innovation side while staying dependable on the production side, so carriers get the best of both." What carriers are asking for O'Banion said the idea for Bestow Labs came out of a pattern in customer conversations. "Many carriers are after the same thing: they want to move at the speed the market demands, but they're boxed in by legacy infrastructure," he said. "Modernization is the top priority we hear across the industry, and customers repeatedly tell us the real barrier isn't ambition, it's fragmented data and systems." That echoes Deloitte's 2026 Global Insurance Outlook, which identifies legacy systems as a continuing top focus area for insurers and points to fragmented data and outdated infrastructure as barriers to scaling AI. "Carriers shouldn't have to choose between innovating and re-platforming," O'Banion said. "Bestow Labs was built to solve that gap, giving carriers access to AI-native capabilities that weren't even possible a year ago." Bestow didn't disclose the size of the Labs team, but O'Banion said the company is investing significantly and growing the team quickly. It is distributed nationally with a strong base in Dallas. North Texas growth Bestow has been in Dallas since its founding in 2017. At the time, the company launched a fully digital term life product in Texas that let consumers buy coverage in about five minutes without a medical exam. It raised $15 million in Series A funding in 2018 and expanded to 32 states within three months. A $50 million Series B came in 2020, and a $70 million Series C followed later that year. The business has since shifted from selling policies directly to selling infrastructure to the carriers that do. In May 2025, the company closed a $120 million oversubscribed Series D co-led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital, along with a $50 million credit facility from TriplePoint Capital. Bestow now supports carriers across the policy lifecycle, from digital new business through policy administration. The company says its carrier clients include Nationwide, Transamerica, USAA, Sammons Financial Group and Equitable. Track Dallas-Fort Worth's business and innovation landscape with its curated news in your inbox Tuesday-Thursday. One quick signup, and you're done. R E A D N E X T. * DigitalXForce Launches Cybersecurity Platform Built for Era of 'Machine-Speed Risk' Founder Lalit Ahluwalia calls the launch a "category declaration" aimed at helping organizations continuously monitor trust, risk, security, and compliance as organizations adopt AI, cloud, and emerging quantum technologies. * Secretome Therapeutics Builds Out Rare Disease Leadership Team The Plano company's lead candidate uses neonatal cardiac progenitor cells to target the heart complications of Duchenne muscular dystrophy. Share via:

PR Newswire
Jul 29th, 2026
Bestow launches AI-native Labs team to modernise life insurance platform

Bestow has announced Bestow Labs, a dedicated team developing AI-native products for the life and annuity insurance industry. The Dallas-based company positions itself as a platform addressing the gap between carriers' digital ambitions and legacy technology infrastructure. The platform supports carriers across the entire policy lifecycle, offering modular architecture that allows incremental adoption without requiring full re-platforming. Bestow reports some carriers have seen conversion rates increase by as much as 300%. Bestow Labs operates separately from production systems, enabling experimentation without affecting regulated infrastructure. The team is led by Chad Hersh, former Amazon executive, with an inaugural product release planned for later this year. The company has grown annual recurring revenue over 100% year-over-year for three consecutive years. Bestow's platform now supports term, whole life, and indexed universal life products for carriers including Nationwide, Transamerica, and USAA.

Dallas Next
Apr 9th, 2026
Bestow appoints new CMO as it expands its platform and deepens partnerships.

Bestow appoints new CMO as it expands its platform and deepens partnerships. Dallas-based Bestow said Meagan Ward strengthens its senior leadership team as the company expands its "product offerings, platform capabilities, and strategic partnerships" following the 2025 close of its $120 million Series D round. Bestow CMO Meagan Ward [Composite image: Photo, Bestow; Background DI Studio] Dallas-based Bestow, a leading insurance technology platform, has appointed Meagan Ward as its new chief marketing officer. Ward will spearhead building Bestow's brand and elevating its advanced innovation capabilities as life insurers work to modernize and scale, the company said. Bestow said Ward strengthens its senior leadership team as the company expands its "product offerings, platform capabilities, and strategic partnerships" following the 2025 close of its $120 million Series D round led by Goldman Sachs and Smith Point Capital. Ward is an accomplished marketing and communications executive with more than 15 years of experience building category-defining brands at the intersection of AI and SaaS, Bestow said. She joins the company after more than seven years at Addepar, an NYC-based wealth and asset management platform valued at more than $3 billion, where she most recently served as CMO and scaled the marketing and communications functions across every stage of the company's growth, Bestow said. Earlier in her career, she led communications at Qventus, an AI-powered hospital operations platform, and The Hatch Agency, where she supported high-growth technology companies through their most critical growth and reputational moments. "As Bestow expands its platform and deepens partnerships with carriers, building a strong, recognizable brand is as important as the technology itself," Melbourne O'Banion, CEO and co-founder of Bestow, said in a statement. "Meagan has a proven track record of doing exactly that - establishing platforms like ours as clear leaders in their markets - and we're excited to have her drive that work at Bestow." Bestow said that Ward will oversee all marketing and communications, with a focus on establishing the company as the definitive platform powering the future of life insurance and annuities. "What drew me to Bestow was simple: an exceptional team, a category-defining platform, and one of the biggest untapped opportunities in financial services." Ward said. "I'm thrilled to join and can't wait to see what we build together." Track Dallas-Fort Worth's business and innovation landscape with its curated news in your inbox Tuesday-Thursday. One quick signup, and you're done. Share via:

PR Newswire
Apr 7th, 2026
Bestow appoints Meagan Ward as CMO following $120M Series D round

Bestow, an insurance technology platform, has appointed Meagan Ward as chief marketing officer. Ward will lead brand building and showcase the company's innovation capabilities as life insurers modernise and scale. Ward brings over 15 years of experience building brands at the intersection of AI and SaaS. She previously served as CMO at Addepar, the wealth and asset management platform valued at over $3 billion, where she scaled marketing and communications functions across multiple growth stages. In her new role, Ward will oversee all marketing and communications, focusing on establishing Bestow as the leading platform for life insurance and annuities. The appointment follows Bestow's $120 million Series D funding round in 2025, led by Goldman Sachs and Smith Point Capital.

Dallas Next
Oct 23rd, 2025
Bestow Names Former Accenture Exec as Its New Chief Revenue Officer

Bestow Names Former Accenture exec as Its New Chief Revenue Officer. Cindy DeArmond is frequently sought after by Fortune 500 companies and industry associations for her expertise in digital transformation, emerging technology, data analytics, and AI/GenAI strategy, the Dallas-based insurance tech platform said. Bestow Chief Revenue Officer Cindy DeArmon [Photo: Cindy DeArmon] Former Accenture executive Cindy De Armond has been appointed chief revenue officer of Dallas-based insurance technology platform Bestow. "Cindy brings exceptional experience driving transformation across every major function of insurance," Bestow Co-Founder and CEO Melbourne O'Banion said in a statement. "Her leadership will be instrumental as we continue to scale our new and existing partnerships and deliver exceptional outcomes for carriers modernizing their product portfolio and operations." Bestow said that DeArmond's appointment reinforces its commitment to accelerating growth and digital transformation across the life insurance industry. DeArmond comes to Bestow from Accenture, where she worked for 12 years and most recently served as senior managing director and insurance industry lead for technology in North America. Bestow said that over her 39-year career, DeArmond has held senior roles at IBM, Zurich, and West Monroe Partners, leading large-scale transformation initiatives for some of the world's most recognized insurance and financial services organizations. She joins Bestow on the heels of a $120M Series D funding round for Bestow. Bestow said that DeArmond is frequently sought after by Fortune 500 companies and industry associations for her expertise in digital transformation, emerging technology, data analytics, and AI/GenAI strategy. DeArmond has partnered with C-suite executives and boards to transform core operations across distribution, underwriting, policy administration, claims, and pricing, modernizing technology platforms and driving substantial value creation. Bestow said its solutions empower insurers to achieve growth and profitability at unparalleled speed. In May, the company closed a $120 million oversubscribed Series D funding round co-led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital. The round included a $50 million credit facility from TriplePoint Capital. Track Dallas-Fort Worth's business and innovation landscape with its curated news in your inbox Tuesday-Thursday. R E A D N E X T. * Omni Hotels & Resorts Appoints New Chief Revenue Officer Industry veteran Adam Hayashi was appointed chief revenue officer of Dallas-based Omni Hotels & Resorts, the company announced in April. He will be responsible for helping the company achieve strategic goals related to maximizing topline revenue performance and capturing greater market share. Hayashi will report directly to Chief Commercial Officer Jeff Doane. "I'm excited to welcome Adam to the Omni family and look forward to the innovation that he will bring to the team," Doane said in a statement. "I have had the opportunity to work with Adam in the past and know his breadth of experience will contribute to... * Colossal Biosciences Names Australian De-Extinction Scientist as Its Chief Biology Officer Andrew Pask is known for his expertise in de-extinction science, developmental genetics, and conservation technologies. He leads the Thylacine Integrated Genomic Restoration Research Lab (TIGGR) at the University of Melbourne in Australia. * ATM Manufacturer Hyosung America Names New Chief Revenue Officer Previously senior vice president of sales, Chris King, a 35-year industry veteran, is charged with accelerating growth in the financial and retail tech sectors. * Motivus Appoints New CFO/Chief Operations Officer and Chief Sales Officer Motivus, a global technology, data and AI consulting firm with an office in Irving, announced earlier this month that it added two executives to its leadership team as the company pursues new markets and ambitious growth. Kevin Walmsley was named chief financial and operations officer, and Navneet Narula became chief sales officer. Motivus said both bring decades of experience to help advance its strategic vision and deliver digital innovation for clients. The company, which rebranded from AgileThought in October 2024, says the new identity reflects its shift toward higher-value offerings in software development and technology consulting. The new hires come... * Magellan Health Promotes Chief Medical Officer to CEO Post Caroline Carney, a board-certified internist and board-certified psychiatrist, has held key clinical leadership positions serving complex populations over the span of her career, including a post as medical director for the Indiana Office of Medicaid Policy and Planning.

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