Ethos Technologies is set to debut on the public market this Thursday, potentially marking the first tech IPO of the year. The insurance tech company priced its initial public offering between $18 and $20 per share.

At the high end of its price range, Ethos would enter the market with a valuation of $1.26 billion. The IPO is expected to raise $102.6 million for the company and approximately $108 million for selling shareholders. The final valuation and total capital raised could increase if investor demand pushes the pricing higher.

Ethos's IPO arrives at a time when the tech market is closely watching for signs of renewed investor confidence. A successful debut by Ethos could signal a thawing in the IPO market, potentially encouraging other tech companies to pursue public offerings. However, a lukewarm reception could further dampen enthusiasm.

Ethos offers software solutions designed to streamline the sale of life insurance. The company gained prominence in the pre-AI era, attracting significant venture capital investment. Backed by prominent firms like Sequoia, Accel, Alphabet's GV, SoftBank, General Catalyst, and Heroic Ventures, Ethos quickly became a rising star. Early investors also included family offices associated with celebrities such as Will Smith, Robert Downey Jr., Kevin Durant, and Jay-Z. By 2021, the company had raised $400 million, achieving a valuation of $2.7 billion. Subsequent funding rounds were comparatively small.

Looking ahead, Ethos's performance on the public market will be closely scrutinized. The company's ability to maintain growth and profitability in a competitive insurance tech landscape will determine its long-term success. The IPO's outcome will also serve as a bellwether for the broader tech IPO market, influencing the decisions of other companies considering going public.