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 with an expected range of $18 to $20 per share.

At the high end of its projected 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 itself, and approximately $108 million for selling shareholders. The final valuation and capital raised could increase if investor demand drives the price higher.

Ethos's IPO arrives at a time when the tech market is closely watching for signs of renewed activity in the IPO space. A successful launch could signal a thawing of the frozen IPO market and encourage other tech companies to pursue public offerings. The company's focus on modernizing the life insurance sales process also highlights the ongoing digitization of the insurance industry.

Ethos provides software solutions designed to streamline and simplify the process of selling life insurance. The company attracted significant venture capital investment in the pre-AI era, securing backing from prominent firms including Sequoia, Accel, GV (Alphabet's venture capital arm), SoftBank, General Catalyst, and Heroic Ventures. Notably, Sequoia and Accel are not selling shares in this IPO. Ethos experienced rapid growth, reaching a valuation of $2.7 billion in 2021 after raising $400 million, primarily within that year. Subsequent funding rounds were considerably smaller, according to PitchBook estimates. The company also garnered early support from family offices associated with celebrities like Will Smith, Robert Downey Jr., Kevin Durant, and Jay-Z.

Looking ahead, Ethos's performance on the public market will be closely watched as an indicator of investor appetite for insurance technology companies. The company's ability to execute its growth strategy and navigate the competitive landscape will determine its long-term success as a public entity.