Insurance company: Lemonade Inc. (LMND) (2015 – )

Lemonade Inc. (NYSE: LMND) was founded in 2015 and is headquartered in New York City, New York, USA, with 329 full-time employees. It is a property and accident insurance company, except for German and Dutch In addition, it also provides tenant and home insurance for houses, apartments, cooperatives and apartments in many states in the United States.

Lemonade Inc

Lemonade Inc. (LMND):

Lemonade is an insurance company that provides insurance policies and uses chatbots to process claims through desktop and mobile applications. Its business model includes non-profit organizations that provide underwriting profits to customers of their choice. Lemonade will do this through the “Giveback” project every year. Lemonade’s business model is different from that of a typical insurance company. It retains 25% of the customer’s premiums as a fixed fee, while setting aside the remaining 75% to cover claims and purchase reinsurance.

Lemonade uses chatbots to provide insurance policies and process claims. In 2016, a customer filed a claim for a stolen jacket; after answering several questions in the app and recording the report on his iPhone, Lemonade’s claim bot passed a review within three seconds, approved and Set a world record by paying the claim.

Lemonade own underwriting policy and the London Lloyds Reinsurance (Lloyd’s of London). In 2020, Demotech, a financial analysis company based in Ohio, rated Lemonade’s financial stability as A-Exceptional.

Lemonade Inc. is backed by investors such as Aleph, General Catalyst, GV (formerly Google Ventures), Sequoia Capital, Thrive Capital, XL, and Japanese technology investor SoftBank . As of December 2017, the company has raised US$120 million.

Lemonade Inc. (LMND) Financing:

  • On December 8, 2015, the seed round was financed. Lemonade Inc. received the lead investment from Aleph and Sequoia Capital Israel, and Expansion Venture Capital participated in the investment of 13 million US dollars.
  • On August 23, 2016, in the Series A financing, Lemonade Inc. received an exclusive investment of USD 13 million from XL Innovate.
  • On December 5, 2016, in Series B financing, Lemonade Inc. received US$34 million in investment from 8 institutions including General Catalyst, GV, Thrive Capital, Sequoia Capital Israel, and Aleph.
  • On April 24, 2017, Lemonade Inc. received investments from Allianz and Allianz X.
  • On December 19, 2017, in the C round of financing, Lemonade Inc. received USD 120 million investment from SoftBank and 5 institutions including General Catalyst, GV, Sequoia Capital Israel, and Aleph.
  • On April 11, 2019, in the D round of financing, Lemonade Inc. received SoftBank’s lead investment, and 7 institutions including General Catalyst, GV, Thrive Capital, OurCrowd and other 7 institutions participated in the investment of 300 million US dollars.
  • On July 19, 2019, the secondary market received investment from G Squared for an unknown amount.

Lemonade Inc. (LMND) investment:

Lemonade Inc. (NYSE:LMND) listed on the New York Stock Exchange on 7/2/2020 IPO. The planned issue price is $23.00-$26.00, the actual issue price is US$29, and 11 million shares are issued. With a capital of 319 million US dollars, Goldman Sachs/ Morgan Stanley/ Allen & Company/ Barclays Capital underwritten. Lemonade Inc. surged +139.34% on its first day of listing to close at $69.41.

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