Life insurance company Ladder announced today that it has raised $30 million in Series B financing, led by RRE Ventures, with participation from Thomvest Ventures, as well as Ladder’s existing investors Canaan Partners, Lightspeed Venture Partners and Nyca Partners.
Ladder, founded in 2015, is on a mission to make life insurance instant, simple, and smart. According to the company, there are neither policy fees nor broker fees. Users can apply for life insurance in as little as five minutes and get approved instantly. With Ladder, the premium price is locked in, which means it does not increase if users’ health changes or as they age. Ladder launched its fully-digital life insurance solution in California on January 10, 2017, and has since expanded to nearly every state across the country.
With this latest round of funding, Ladder will continue to develop its platform capabilities and expand its marketing initiatives nationwide.