Bestow Closes $120 Mn Oversubscribed Series D From Notable Investor

Bestow tripled revenue in 2024, achieved 10x growth over two years, and expects to continue growing exponentially, with profitability on the horizon
PRNewswireMay 19, 20255 min

Bestow Inc., a leading insurance technology company, today announced the close of a $120 million oversubscribed Series D funding round, including primary and secondary investments. The round was co-led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital. In addition to the equity financing, Bestow also secured a $50 million credit facility from TriplePoint Capital.

The capital will fund the development of new products and services and help accelerate the expansion of Bestow’s platform in the life and annuities space. Bestow plans to increase its workforce to meet growing enterprise demand.

“This investment strengthens Bestow’s position as the preferred partner for life insurance and annuity providers seeking to modernize and scale,” said Melbourne O’Banion, CEO and Co-founder of Bestow. “We are accelerating product innovation to help the industry stay ahead of market trends, unlock new opportunities, and build lasting competitive advantages through technology. We are deeply grateful to our investors and carrier partners for their support and shared belief in our mission to modernize the life insurance and annuities space.”

As part of the investmentAshwin Gupta, Managing Director at Goldman Sachs, will join Bestow’s board of directors. “There is a growing need for a modern insurance technology platform that enables better solutions and outcomes for life and annuity carriers,” said Gupta. “We believe Bestow has developed such a platform and is driving innovation in the industry. We are excited to invest in Bestow as they continue to expand their capabilities and reimagine the future of insurance technology.”

“The life insurance industry has remained virtually untouched by innovation for three decades,” said Keith Block, Founder and CEO of Smith Point Capital. “Bestow isn’t just offering another tech tool—they’re fundamentally transforming how insurers create and deliver products at the very core of their business operations. Their impressive enterprise customer roster, unprecedented for such a young company in this traditionally risk-averse market, demonstrates that Bestow has identified a truly mission-critical opportunity. Smith Point Capital is incredibly proud to not only invest in Bestow to help them accelerate their growth, but also partner with them as they redefine the industry.”

This funding milestone follows Bestow’s 2024 divestiture of Bestow Life Insurance Company, a direct-to-consumer life insurance carrier, to Sammons Financial Group, marking a strategic shift to focus exclusively on enterprises through its vertical software platform, purpose-built for the entire life insurance value chain.

Today, Bestow partners with industry leaders, including Nationwide, Transamerica, USAA, Sammons Financial Groups, among others, and will be announcing additional partners in the coming months. The company continues to boast a 100% customer retention rate and has achieved a 245% year-over-year increase in transaction volume. The Series D round caps a period of strong growth for Bestow, and the company expects this growth to continue exponentially.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates! 

PRNewswire

newOriginal-white-FinTech1-1

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications



FintecBuzz, 2025 © All Rights Reserved