The investment, along with YuLife’s existing investors, will support the company in its planned expansion into the U.S. market. In July 2022, YuLife raised a $120M Series C led by Dai-ichi Life, bringing the company’s total funding to $206M since its foundation in 2016. YuLife has grown rapidly in an industry slow to innovate and is reshaping financial services by putting life first and inspiring people to live their best lives every single day. Following this latest investment, YuLife plans to expand its operations to new markets and broaden its offering to encompass more types of financial and insurance products, tailored to individuals’ needs.

“We are thrilled to welcome the T. Rowe Price investors, who will support our continued development along with our existing investors,” said Sammy Rubin, CEO and Founder, YuLife. “Since the very beginning, YuLife has sought to fundamentally change the nature of life insurance by providing life-enhancing experiences, and our investors have been instrumental in getting us to where we are today.”

“YuLife has distinguished itself from others through its ability to grow rapidly while still keeping up with dynamic market demands, coupled with a customer-centric mentality,” said Zenon Voyiatzis, investment analyst at T. Rowe Price. “It is clear to us that businesses and employees see both short- and long-term benefits from using YuLife’s products.”