Bestow, a technology provider for the life insurance sector, has raised $120m in an oversubscribed Series D funding round as it continues to reposition itself as a core technology partner for carriers.
The round was co-led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital. Alongside the equity raise, Bestow also secured a $50m credit facility from TriplePoint Capital to further support its operations and growth initiatives.
Bestow provides a vertically integrated InsurTech platform that enables life and annuity carriers to digitise their operations—from product development and underwriting through to policy administration. The platform is designed to help insurers modernise, improve cost efficiency, and enhance service delivery at scale.
The new capital will be used to develop new solutions and scale Bestow’s platform to meet growing enterprise demand. The firm also plans to expand its team to support rapid client acquisition and product innovation.
Bestow CEO and co-founder Melbourne O’Banion said, “This investment strengthens Bestow’s position as the preferred partner for life insurance and annuity providers seeking to modernize and scale.
“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.”
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