# Lemonade

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lemonade

- Industry: Insurance
- Headquarters: New York, US
- Website: www.lemonade.com
- Total disclosed funding: $341M
- Latest round: Series D (Jun 24, 2019)
- Investors on record: 19

## About

Lemonade, Inc. is a tech-driven insurance company that offers renters, homeowners, car, pet, and term life insurance solutions, leveraging artificial intelligence for rapid and customized service.Founded in 2015, Lemonade, Inc. is headquartered in New York, US. The company operates a technology-focused platform for insurance, pivoting from traditional models to a customer-oriented approach. The founders include Amy Pollard, Rebell Mullins, Richard Peachey, Sarah Ticho, and Shai Wininger, with Daniel Schreiber serving as CEO. Lemonade has raised a total of USD 796.01 mn, with its latest funding round being a Private Placement/Follow on on January 13, 2021, which amounted to USD 796.01 mn. The company has completed a total of 12 deals since its inception.Lemonade, Inc. primarily provides innovative insurance products, including renters, homeowners, car, pet, and term life insurance. These offerings are powered by a technology-driven platform utilizing artificial intelligence, enabling customers to receive tailored insurance solutions quickly, often within 90 seconds. Their approach improves transparency and trust, addressing common pain points like lengthy claims processing. The target customer base includes renters and homeowners across various states in the United States and international markets such as Germany, the Netherlands, France, and the United Kingdom.In the most recent year, Lemonade reported a revenue of USD 526.50 mn. The company adopts a subscription-based model for revenue, where customers pay monthly premiums for their insurance coverage. Lemonade retains a flat fee from these premiums for operational costs, while the remaining funds are allocated for claims. For example, renters insurance starts at approximately USD 5 per month, and homeowners insurance begins around USD 25 per month. Lemonade also engages customers through its app and website, enhancing customer loyalty by allowing leftover premium funds to be donated to causes chosen by policyholders.Lemonade, Inc. intends to enhance its product offerings and expand into new markets. The company is developing additional insurance products with plans for release in upcoming fiscal periods. Following their capital raise of USD 796.01 mn in January 2021, Lemonade aims to utilize these funds to bolster their technological capabilities and facilitate expansion into new geographical regions. Recent partnerships and acquisitions indicate a strategy focused on strengthening their position in existing markets while exploring entry into additional international territories.

## Funding rounds

- Series D, Jun 24, 2019, $175M — General Catalyst Partners, GV, SoftBank Group, Thrive Capital, Allianz AG, OurCrowd
- Series B, Apr 1, 2018 — Champel Capital
- Series C, Mar 12, 2018, $120M — Hong Shan, General Catalyst Partners, GV, Thrive Capital, Allianz AG, Sound Ventures, Aleph, XL Innovate, Tusk Venture Partners, SB Investment Advisers
- Series B, Nov 17, 2016, $33M — Hong Shan, General Catalyst Partners, GV, Thrive Capital, Aleph, XL Innovate, Tusk Venture Partners
- Series A, Aug 23, 2016 — Transatlantic Capital, Hiscox, Berkshire Hathaway Pension Plan, XL Innovate, Munich Re Ventures, Lloyd's, Everest Re Group, Ltd.
- Seed, Jul 29, 2015, $13M — Hong Shan, Aleph, XL Innovate

## Investors

- Hong Shan — Seed, Series B, Series C
- Aleph (https://capitalatlas.ai/funds/aleph) — Seed, Series B, Series C
- XL Innovate (https://capitalatlas.ai/funds/xl-innovate) — Seed, Series A, Series B, Series C
- Transatlantic Capital (https://capitalatlas.ai/funds/transatlantic-capital) — Series A
- Hiscox — Series A
- Berkshire Hathaway Pension Plan — Series A
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Series A
- Lloyd's — Series A
- Everest Re Group, Ltd. — Series A
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series B, Series C, Series D
- GV (https://capitalatlas.ai/funds/gv) — Series B, Series C, Series D
- Thrive Capital (https://capitalatlas.ai/funds/thrive-capital) — Series B, Series C, Series D
- Tusk Venture Partners (https://capitalatlas.ai/funds/tusk-venture-partners) — Series B, Series C
- Allianz AG — Series C, Series D
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- Champel Capital (https://capitalatlas.ai/funds/champel-capital) — Series B
- SoftBank Group — Series D
- OurCrowd (https://capitalatlas.ai/funds/ourcrowd) — Series D