Lemonade is an insurance startup that uses an AI-powered bot and mobile app to digitize the insurance-buying experience for renters and homeowners. The product offers quick quotes (starting at about $5/month) after users answer a few questions and integrates a giveback system that allocates unclaimed premiums to users' chosen charities. The company takes a fixed slice of premiums as revenue and sets the remainder aside for claims. Lemonade reported $57 million in revenue last year, is on track for $100 million this year, and has sold 500,000 policies to date. The new funding is intended to support expansion beyond the U.S., with Europe cited as the first target, and to hire in customer support, claims, engineering and data science. Management cites scaling the organization and handling rapid multi-product, multi-continent growth across five office locations as a primary challenge. Lemonade is a licensed insurance carrier that combines artificial intelligence and behavioral economics to underwrite and service homeowners and renters policies. The company is led by co-founder and CEO Daniel Schreiber and is a Certified B-Corp. Its product focus is on AI-driven customer experience and risk assessment for personal insurance lines. The company has attracted venture and strategic backers, positioning it for growth. Following a strategic investment from Allianz, Lemonade plans to accelerate expansion throughout the U.S. and beyond. No revenue or user metrics were disclosed in the article. Lemonade is a New York-based licensed insurance carrier offering renters and homeowners insurance. Its platform uses artificial intelligence and behavioral economics, with bots delivering policies and handling claims through its app and lemonade.com. Consumers can chat with the AI to file claims, and the bot is authorized to pay claims instantly without human intervention. Led by CEO Daniel Schreiber and Chief Behavioral Officer Professor Dan Ariely, the company is B-Corp certified and gives back unclaimed money to causes policyholders care about. The company was licensed in New York on September 15, 2016, filed for a California license within hours, and said it intends to use the funds to expand operations in 2017. It raised $34m in Series B funding to support that expansion. Lemonade is a NYC-based B‑Corp peer-to-peer insurance company led by co‑founder and CEO Daniel Schreiber. The company replaces brokers with bots and machine learning to deliver insurance. It has recently hired senior insurance executives and behavioral economist Professor Dan Ariely. Lemonade is backed by investors including Sequoia and Aleph VC. It received a significant, but undisclosed, investment from XL Innovate, whose managing partner Tom Hutton joined Lemonade’s board. The company will use the funds to prepare its New York launch. Lemonade is a New York City-based peer-to-peer (P2P) insurance company. The company is building a P2P insurance platform and aims to leverage peer-to-peer technology to deliver consumers a better insurance experience compared with traditional insurers. It is still operating in stealth mode and remains in beta. Lemonade was founded by veteran tech entrepreneurs Daniel Schreiber (CEO) and Shai Wininger (President and CTO). The company secured external funding to continue developing its platform and operations. The article reports a $13M seed financing to support those development efforts.

Total raised

$347M

Funding rounds

5

Latest round

Series D

Latest activity

Apr 2019