Bestow

Bestow

Digital platform for life insurance solutions

About Bestow

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

Industries

Data & Analytics

Fintech

Company Size

201-500

Company Stage

Series C

Total Funding

$133.8M

Headquarters

Dallas, Texas

Founded

2017

Overview

Bestow focuses on providing life insurance through a digital platform that makes the purchasing process straightforward and user-friendly. Their system uses advanced underwriting technology to speed up the application process, allowing customers to receive instant decisions on their coverage. Bestow's software manages the entire insurance lifecycle, which helps them reduce costs and quickly introduce new products. They also utilize data solutions to enhance customer information for better marketing strategies and audience targeting. Unlike traditional insurance companies, Bestow emphasizes a quick and easy experience, appealing to individuals who may find the insurance process daunting. Their goal is to make life insurance accessible and affordable, with coverage starting at $11 per month, while maintaining high customer satisfaction, as evidenced by their excellent ratings and A+ Better Business Bureau score.

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Simplify's Take

What believers are saying

  • Bestow's partnership with Transamerica enhances its digital platform and customer experience.
  • Recognition as a Top 100 Financial Technology Company boosts Bestow's industry credibility.
  • Increased focus on AI-driven underwriting processes reduces time and costs.

What critics are saying

  • Leadership changes may disrupt current operations and partnerships.
  • The acquisition by Sammons Financial Group may alter Bestow's strategic direction.
  • Recent layoffs and low website traffic suggest potential financial or operational challenges.

What makes Bestow unique

  • Bestow uses advanced underwriting technology to expedite the insurance application process.
  • The company offers a digital platform simplifying life insurance purchase for tech-savvy consumers.
  • Bestow's data solutions optimize marketing spend and enhance audience segmentation.

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Funding

Total Funding

$133.8M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$70M
Bestow
$100M
Oura

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

-14%

1 year growth

-8%

2 year growth

-10%
FF News
Feb 7th, 2025
Bestow Strengthens Leadership Team With Key Appointments

Bestow, a leading insurance technology platform, has announced the addition of three new hires that will help drive its next growth phase. These leaders reinforce Bestow’s ability to unlock digital transformation and growth across the life insurance industry.David Malenoir-Evans joins Bestow as its Chief Product Officer, responsible for product strategy and execution. He has a successful track record scaling products and platforms across AI, SaaS, and fintech while holding senior roles at MetaMap, Procore, and Dataminr. At Bestow, he will focus on enhancing the company’s integrated technology platform, designed to modernize the life insurance industry by replacing outdated, fragmented systems.Doug Brewster joins Bestow as Vice President of Finance, where he will oversee financial strategy and operations. Before joining Bestow, Doug was a key leader on the finance teams at Tecton, Confluent, and Okta. Doug brings a wealth of experience scaling best-in-class SaaS companies across growth and IPO stages.Pete Schiller is the Vice President of TPA Services, driving the next generation of insurance operations and administration capabilities for numerous Tier-1 life insurance carriers

PR Newswire
Dec 16th, 2024
Bestow Named A Top 100 Financial Technology Company Of 2024

DALLAS, Dec. 16, 2024 /PRNewswire/ -- Bestow, a leading technology company in the life insurance industry, has been named one of the Top 100 Financial Technology Companies of 2024 by The Financial Technology Report. This recognition highlights Bestow's innovative approach to modernizing life insurance and its commitment to delivering seamless, high-impact solutions. The Financial Technology Report annually highlights organizations redefining financial services with innovation, influence, and impact. Bestow's inclusion places it among industry leaders, underscoring its role in transforming how life insurance is provided

Business Wire
Oct 2nd, 2024
LaSalle Vaughn Joins Altruist as Chief Compliance, Ethics, & Risk Officer

Vaughn joins Altruist from Bestow, where he served as Chief Compliance, Ethics, and Risk Officer, leading teams that mitigated regulatory risk for online insurance products.

Coverage
May 9th, 2024
Sammons Financial Group To Acquire Bestow Life Insurance Company

Sammons Financial Group <i class="fa fa-info-circle company-popover" data-content="h3Sammons Financial Group/h3. div. table

The Daily Record
Sep 19th, 2023
Transamerica developing digital platform for life insurance products

Baltimore-based Transamerica on Tuesday announced a partnership with technology company Bestow to develop a digital platform with enhanced self-service options for the company's life insurance products.

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