Total amount raised
$194 Millions
Latest funding date
10/01/2021
Location
Ladder has successfully raised significant funding over multiple rounds, with its latest being a Series D. The company offers a digital life insurance platform that provides flexible term coverage in minutes, making life insurance accessible and affordable.
Keep reading to explore the intricacies of Ladder's fundraising journey and the investors backing this innovative platform.
What Is Ladder?
Ladder, founded on April 7, 2015, is a digital life insurance company headquartered in Palo Alto, California. The company was established by Jack Dubie, Jamie Hale, Jeff Merkel, and Laura Hale.
Specializing in flexible term coverage, Ladder offers policies up to $8 million across all 50 states, utilizing an all-digital architecture and real-time underwriting to make life insurance accessible and affordable.
With a team of 101-250 employees, Ladder continues to innovate in the life insurance industry, providing a seamless and efficient experience for its customers.
How Much Funding Has Ladder Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: August 2015
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Ladder's digital life insurance platform.
- Series A
- Amount Raised: $14M
- Date: October 2016
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and further develop the digital platform.
- Series B
- Amount Raised: $30M
- Date: January 2018
- Lead Investors: RRE Ventures, Thomvest Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology infrastructure.
- Series B
- Amount Raised: $10M
- Date: May 2018
- Lead Investors: Allianz Life Insurance, Northwestern Mutual Future Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving the platform.
- Series C
- Amount Raised: $37.5M
- Date: February 2020
- Lead Investors: Brewer Lane Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series D
- Amount Raised: $100M
- Date: October 2021
- Lead Investors: Thomvest Ventures, OMERS Growth Equity
- Valuation at Round: $900M
- Motivation Behind the Round: To scale the engineering team, enhance the platform, and expand digital interactions with customers.
Total Amount Raised: $194M. Current Valuation: $900M.
Key Investors
- Thomvest Ventures
- Details: Thomvest Ventures is a cross-stage venture capital fund backed by Peter Thomson. The firm focuses on investing in innovative and high-growth companies.
- Investment Focus Areas: Financial technology & proptech, cybersecurity & cloud infrastructure, sales & marketing technology.
- Notable Investments: Not publicly disclosed.
- OMERS Growth Equity
- Details: OMERS Growth Equity invests in high-growth companies backed by exceptional teams. This is their first direct fintech investment and entry into the insurtech space.
- Investment Focus Areas: High-growth companies, scaling operations, making acquisitions, expanding product lines, entering new markets.
- Notable Investments: Not publicly disclosed.
- Allianz Life Insurance
- Details: Allianz Life Insurance is a leading provider of retirement solutions, including fixed and variable annuities and life insurance. The company is part of Allianz SE, a global financial services group.
- Investment Focus Areas: Insurance, financial services.
- Notable Investments: Not publicly disclosed.
- Northwestern Mutual Future Ventures
- Details: Northwestern Mutual Future Ventures is the corporate venture arm of Northwestern Mutual. They invest in startups that align with their mission to provide financial security.
- Investment Focus Areas: Insurance, financial services.
- Notable Investments: Not publicly disclosed.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage companies across various sectors. They focus on transformative technologies and innovative business models.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Ladder?
Ladder stands at the cusp of significant opportunities, driven by the increasing digitization of the life insurance industry. With plans to issue $30 billion in coverage by the end of the year, the company is poised to expand its digital offerings and grow its team. This growth is supported by a $100 million Series D funding round, which will be used to enhance their platform and scale operations.
Future fundraising opportunities appear promising as Ladder continues to innovate and attract investor interest. The company’s success in leveraging technology for real-time underwriting and flexible term coverage positions it well for additional investment rounds. However, challenges such as competition from other insurtech firms and regulatory hurdles in different markets could pose obstacles. Maintaining rapid growth while ensuring high-quality service will be crucial for Ladder's sustained success.
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