Life insurance provider Ethos acquires digital wills and estate-planning startup Tomorrow

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Some of yesterday’s services, as seen on the Company’s website. (image yesterday)

Tomorrow, a Seattle startup that helps people set up digital legal wills and trusts, has been acquired by life insurance provider nature, companies announced Thursday,

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Founded in 2016, Tomorrow’s iOS and web apps provide 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 made legal will.

Ethos was also founded in 2016 with a similar goal to make property decisions easier 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 more than $400 million from Sequoia Capital, Accel, SoftBank Vision Fund 2, GV, General Catalyst and Jay-Z’s Roc Nation. Revenues and users increased by more than 600% in 2021 years.

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picked up yesterday $17 million from IA Capital, Allianz, Aflac, Sinai Ventures and Flying Fish of Seattle. The startup employs 20 people, which will join the 250 employed by Ethos, which has offices in Austin, San Francisco and Singapore.

Tomorrow CEO Dave Hanley. (photo yesterday)

“The iOS and Web apps of Tomorrow will continue to provide legal wills, trusts, health directives, power of attorney and medical consent,” said Tomorrow CEO and Founder Dave Hanley told Geekwire. “Tomorrow’s Apps will continue to operate under the Tomorrow brand for now. This may change in the future.”

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Hanley founded Tomorrow after unexpectedly losing both of his parents. He was unprepared for the financial and legal processes, and felt that many others probably were not.

His previous startup, Shelfari, was acquired by Amazon in 2009. He sold the social media consultancy Banyan branch to Deloitte Digital in 2013, where he lived for nearly three years before co-founding Tomorrowland.

Ethos is interested in becoming a more comprehensive financial tool for families, who typically only interact with a life insurance company at the time of sale and when the policy needs to be enacted.

“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.” Peter Collis, co-founder and CEO of Ethos, said in a statement. “We were impressed with the team’s customer focus and product platform – digitizing a traditionally slow, paperwork process – and we are excited to have tomorrow’s team join us.”

Terms of the acquisition were not disclosed.

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