Two months after rising out of secrecy to take on the
peer-to-peer word industry, New York-based Lemonade has
lifted $33 million in funding, according to an SEC filing from
First speckled by CB
Insights‘ filing tracker, a still lift that sealed in
Nov is a conflicting of a company’s splashy entrance last
In Dec 2015, a word startup lifted $13 million in
seed appropriation — a largest ever seed investment by legendary
Silicon Valley organisation Sequoia capital.
Lemonade then stayed still in for months.
A press recover in Aug announced that a association had received
a “significant investment” from XL Innovate and combined Tom Hutton
from a organisation to a board. The SEC filing could be the
central notice of a Aug lift from XL Innovate and last
December’s seed appropriation round. In a filing, Tom Hutton is
listed as house member of a company, alongside Sequoia’s
Haim Sadger and
Alpeh VC’s Michael Eisenberg.
Lemonade did not respond with a criticism when reached by Business
The association re-emerged in Sep with a initial product:
peer-to-peer homeowner’s and renter’s word in New
York. Lemonade sells let word policies for as
small as $5 a month, and home word for as low as $35 a
month (your process rates might vary). Its business is conducted
wholly online around an app. There are no tellurian word brokers,
and no skeleton to ever use them.
But where many word companies slot a income we compensate as
profits, reduction any claims paid, Lemonade takes a true 20% cut
of a process rate as a share. And if your organisation pays more
collectively than it uses as claims for a year, Lemonade
donates a income to a gift of your choice (from your kid’s
propagandize to an determined charity).
“We don’t make income denying claims. If income is left over, we
don’t wish to be tempted and we don’t wish we to be tempted
either. Consumers do overstate claims,” a
CEO Daniel Schreiber told Business Insider’s
Julie Bort in October.