Insurance firm National Guardian Life Insurance (NGL) has paid an undisclosed amount to buy US-based inheritance planning service provider Everplans, allowing insurers Transamerica, Aegon and Reinsurance Group of America (RGA) to exit.
Everplans has developed an online platform that allows users to digitise and manage documentation such as wills, life insurance documents and health history. It will continue to serve new and existing customers as a subsidiary of NGL but will operate as a separate entity.
The company raised $1.3m in seed funding from unnamed backers in 2013, before pulling in $2.7m the following year according to two regulatory filings, from backers including Scout Ventures, Generator Ventures and angel investors David McCabe and Mark Seelig.
Transamerica, Aegon and RGA participated in a $6.4m series A round for Everplans in 2016 that was led by Mousse Partners. Transamerica and Aegon invested in the round through joint corporate venturing unit Transamerica Ventures, while RGA supplied capital through its RGAx vehicle.