March 7, 2022 – SPMB, an executive search firm that helps find transformative executives throughout Silicon Valley, helped land Sheila Vashee as Chief Marketing Officer for Ethos, the largest term life insurance provider in the USA. Partner Dean Nacey led the mission. Ms. Vashee joins Ethos from start-up investment firm Basis Set Ventures. Prior to that, she held senior positions at Opendoor and Dropbox. At Ethos, she will focus on building and scaling all marketing, growth and branding efforts across B2B and consumer to support Ethos’ rapid growth.
“Congratulations, Peter Colis and the entire Ethos team on welcoming Sheila Joglekar Vashee as Chief Marketing Officer,” SPMB said in an online statement. “On behalf of Dean Nacey and the rest of the SPMB Executive Search team, it has been a pleasure to accompany you in this search and to support the growth of the company as Ethos strives to democratize access Here’s a fantastic result and a world-class addition to the Ethos team!
Mr. Colis, co-founder and CEO of Ethos, said the key role Ms. Vashee played in the growth of Opendoor and Dropbox impressed the Ethos team. “We are delighted that she shares our excitement about the market opportunity in front of Ethos as well as our commitment to protecting the next million families,” he said.
“I couldn’t be more thrilled to join Ethos,” said Ms. Vashee. “I look for three main elements when I join a new company: the size of the opportunity, the strength of the team and the acuity of the customer’s need. Ethos answers all this and more; this is the challenge I was waiting for.
As Vice President of Marketing and Growth at Opendoor, Ms. Vashee was responsible for marketing, growth operations and agent partnerships on both sides of the buyer and seller market, helping to bring the company to more than 20 markets. Prior to Opendoor, she was the second marketing rookie at Dropbox, where she was responsible for all new product launches, including the launch and growth of Dropbox Business and Dropbox Enterprise, as well as brand, product, social, events and corporate marketing. . In more than five years, she helped grow Dropbox’s user base to 600 million users and over $1 billion in revenue.
Ethos recently acquired Seattle-based start-up Tomorrow, which democratizes free access to essential financial instruments, such as legal wills and trusts. The company has experienced significant growth and issued more than $13 billion in life insurance coverage last year. In 2021, Ethos was valued at $2.7 billion after raising over $400 million from Sequoia Capital, Accel, SoftBank Vision Fund 2, GV, General Catalyst, and Jay-Z’s Roc Nation. Revenue and users grew over 600% year-over-year in 2021.
Clearly signaling its focus on growth and scale, Ethos recently significantly strengthened its management team, adding Poshmark’s Anan Kashyap as Chief Financial Officer, Legal & General America’s Troy Thompson as Chief Actuary and the veteran industry leader Marty Schafer as its first director of distribution, as well as the promotion of Vipul Sharma to chief technology officer and co-founder Lingke Wang to president.
Founded in 2016, Ethos describes itself as a technology company that makes it easier for everyone to protect their family with life insurance. The company’s proprietary cutting-edge technology breaks down traditional barriers to life insurance by developing instant, accessible products that allow people to easily purchase life insurance online, in minutes, without any medical exams. Ethos issues billions of coverage every month. Ethos is a global company, with offices in Austin, San Francisco and Singapore, and team members in 35 states and four countries.
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For more than 40 years, SPMB has worked alongside clients to build leadership teams that ensure venture and private equity-backed game changers scale and position multibillion-dollar public companies dollars to unlock innovation. Specializing in technology and innovation, SPMB recruits senior executives and board members from growth-oriented companies in the technology, consumer and sustainability sectors. SPMB has also placed dozens of senior executives in partner portfolio companies of leading private equity firms, including Blackstone, KKR and TPG.
Mr. Nacey’s primary goal is to build long-term partnerships with B2B and B2C clients to drive the building of comprehensive leadership teams at the board, CEO and executive level. As an organization matures, he specializes in placement of complementary general management, marketing, customer acquisition, revenue, go-to-market strategy/operations and leadership success of customers (CRO, CMO, COO, CCO) while recruiting the leadership of people (CPO, CHRO, VPHR) who define, encourage and reinforce enterprise-wide behaviors and systems to catalyze the growth and reach scale. Long-term customers include B2B companies Snyk, BetterUp, Juniper Square, Checkr, Front, Lob, ServiceNow, DocuSign, Dynatrace, Collective Health and Tricentis, as well as B2C companies NerdWallet, Robinhood, Credit Karma, MyFitnessPal, Outdoorsy and SoulCycle . / Equinox.
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Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media