Insurance Startup Lemonade Gets Sweeter With $300M Infusion
Summary
Lemonade, which operates an AI-driven insurance platform, has raised $300 million in a Series D round led by SoftBank Group that reportedly values the company at more than $2 billion. This latest financing also included participation from Germany’s Allianz, General Catalyst, GV (formerly known as Google Ventures), Israel-based OurCrowd, and Thrive Capital. Lemonade said it plans to use the new capital to accelerate its U.S. and European expansion, as well as to explore new product lines. It operates contrary to traditional insurance models, charging a fixed percentage as a flat fee. Daniel Schreiber, Lemonade CEO and co-founder, told me via email this morning that his company’s revenue climbed 466 percent to $57.2 million in 2018.
Funding
Amount
$300.0M
Total raised
Date
April 11, 2019
Announcement date
Investors
Salim Group, Thrive Capital, Inventure Partners, SoftBank, GV, General Catalyst, Lemonade
Lead investors
Company
https://www.lemonade.com/
Funded company
Classifications
industries
No industries detected
applications
Anti Piracy
AskAI Classifications
Labels
Software Development
SaaS
Data Visualization
Linked Companies
Plotly
$10M to $25M