Lemonade

Rank#3904

Market Cap3.40B

CountryUnited States

Summary

Lemonade, Inc. provides various insurance products in the United States and Europe. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies. In addition, it operates as an agent for other insurance companies. The company was formerly known as Lemonade Group, Inc. and changed its name to Lemonade, Inc. Lemonade, Inc. was incorporated in 2015 and is headquartered in New York, New York.

History

Lemonade was founded by Daniel Schreiber and Shai Wininger in April 2015. Dan Ariely joined in 2017 as the Chief Behavioral Officer.In December 2015, the company secured $13 million in seed money from Sequoia Capital and Aleph.In August 2016, the company raised $13 million in funding from XL Innovate , followed by a $34 million Series B funding round in December 2016. The Series B round was led by General Catalyst with participation from Thrive Capital, Tusk Ventures, and GV .In May 2016, Lemonade became one of the few insurance companies to receive B-Corporation certification.In April 2017, the company announced additional investors: Allianz and Ashton Kutcher’s Sound Ventures. In December 2017, Softbank invested an additional $120 million in the company in a Series C round, increasing the total money raised by the company to around $180 million.In April 2019, Lemonade announced a further $300 million investment in a Series D financing led by SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd, and Thrive Capital, increasing the total money raised by the company to $480 million.In April 2020, the company launched in the Netherlands.On July 1, 2020, the company became a public company via an initial public offering.In December 2020, it began offering insurance in France. It also won a trademark dispute with T-Mobile over the use of the color pink.In November 2021, the company announced that it would fully acquire Metromile, Inc. The acquisition completed on 29 July 2022, following which Lemonade laid off 20% of Metromile's staff.

Mission

Reinventing insurance to be instant, easy, and driven by social good.

Vision

Our vision is to create a world where everyone is more secure, responsible, and connected to each other.

References

https://en.wikipedia.org/wiki/Lemonade,_Inc.

https://in.investing.com/equities/lemonade-inc

https://finance.yahoo.com/quote/LMND/profile?p=LMND

https://www.comparably.com/companies/lemonade-inc/mission

https://www.crunchbase.com/organization/lemonade

https://sec.report/CIK/0001691421

https://companiesmarketcap.com/