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Lemonade history
Lemonade company history timeline
In April 2015, Daniel Schreiber (a former president of Powermat) and Shai Wininger (a co-founder of Fiverr) established Lomonade Inc.
The other 75% is used to fund customer claims, buy reinsurance (laying off some risk) and pay certain taxes and fees, with anything left going to charities that customers choose. It would be online only (no paper or insurance brokers), low-cost, easy to deal with and “trustworthy.” They weren’t naïve about needing insurance expertise and, in May 2015, recruited Ty Sagalow, a 36-year industry veteran, naming him chief insurance 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 (part of XL Group), followed by a $34 million Series B funding round in December 2016.
Lemonade issued its first policies in September 2016 in New York.
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 the summer of 2017, a Los Angeles man in his mid-20s put on a necklace, blond wig and makeup and made a cellphone video describing how his camera and other electronics had been stolen.
Dan Ariely joined in 2017 as the Chief Behavioral Officer.
In October 2018, State Farm released a star-studded ad spoofing budget insurance bots and suggesting they couldn’t compete with human agents.
In 2018, its second full year offering renters and homeowners insurance, Lemonade took in $57 million in premium revenue from 425,000 customers, 75% of them under 35 and 90% of them buying such insurance for the first time.
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.
In December 2020, it began offering insurance in France.
In November 2021, the company announced that it would fully acquire Metromile, Inc.
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Lemonade competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,031 |
| Citi | 1812 | $74.3B | 210,000 | 1,064 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 153 |
| AllianceBernstein | 1967 | $4.1B | 3,450 | 86 |
| Peninsula Insurance Associates | - | $5.7M | 50 | 1 |
| Mutual of Enumclaw | 1898 | $430.0M | 573 | 8 |
| VeriClaim | 1790 | $34.6M | 50 | - |
| Network Adjusters | - | $12.3M | 50 | - |
| OVATION | 1991 | $4.0B | 3,500 | 447 |
| Island Holdings Inc | - | $340.0M | 450 | 8 |
Lemonade history FAQs
Zippia gives an in-depth look into the details of Lemonade, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Lemonade. The employee data is based on information from people who have self-reported their past or current employments at Lemonade. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Lemonade. The data presented on this page does not represent the view of Lemonade and its employees or that of Zippia.
Lemonade may also be known as or be related to Lemonade, Lemonade Inc., Lemonade Insurance Agency LLC, Lemonade International Inc and Lemonade, Inc.