Business
Bestow Closes $120 Million Oversubscribed Series D Funding, Co-Led by Growth Equity at Goldman Sachs Alternatives and Smith Point Capital
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.
About this update from Goldman Sachs Group, Inc. (the)
[{"type":"text","content":"Bestow tripled revenue in 2024, achieved 10x growth over two years, and expects to continue growing exponentially, with profitability on the horizon","length":148,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS, May 13, 2025 /PRNewswire/ -- 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.","length":423,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Bestow Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Bestow Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":73,"url":"https://media.zenfs.com/en/prnewswire.com/804d3c5de0a1aff31e7b1cdf15d43a42"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/TXnodLAihXzUYFeq2zG6GQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/804d3c5de0a1aff31e7b1cdf15d43a42","width":400,"height":73}},"href":"https://mma.prnewswire.com/media/1039380/Bestow_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"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.","length":232,"tagName":"p"},{"type":"text","content":""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."","length":571,"tagName":"p"},{"type":"text","content":"As part of the investment, Ashwin Gupta, Managing Director at Goldman Sachs, will join Bestow's board of directors. "There is a...