— Jan 13, 2022 —
Published in STARTUPS
on GeekWire.com
Written by Kurt Schlosser
Tomorrow, a Seattle startup that helps people set up digital legal wills and trusts, has been acquired by life insurance provider Ethos, the companies announced Thursday.
Founded in 2016, Tomorrow’s iOS and web apps offer online estate planning services without the need for a lawyer. The company has seen usage skyrocket since the start of the COVID-19 pandemic, and more than 600,000 users have created legal wills.
Ethos was also founded in 2016 with a similar goal to make it easier to make estate-related decisions, and provide life insurance online. The company issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021. It raised over $400 million from Sequoia Capital, Accel, SoftBank Vision Fund 2, GV, General Catalyst and Jay-Z’s Roc Nation. Revenue and users grew by more than 600% year-over-year in 2021.
Tomorrow’s goal of creating a fast, easy, and transparent way for people to secure their financial future and protect their families is directly in line with Ethos’ goal of protecting the next million families. We were impressed by the team’s customer focus and product platform — having digitized a traditionally slow, paper process — and we’re excited to have the Tomorrow team join us.
Peter Colis, Co-Founder and CEO, Ethos
Ethos is interested in becoming a more comprehensive financial tool for families, who normally only interact with a life insurance company at the time of sale and when the policy needs to be enacted.
Terms of the acquisition were not disclosed.
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