Lemonade, Inc.

Type| Public

Traded as

* NYSE: LMND
* Russell 2000 component

Industry| Insurance
Founded| April 2015; 11 years ago (2015-04)
Founders|

* Daniel Schreiber
* Shai Wininger

Headquarters| New York City

Area served

* United States
* France
* The Netherlands
* Germany
* United Kingdom

Key people

* Daniel Schreiber (chairperson & co-CEO)
* Shai Wininger
* (president & co-CEO)
* Tim Bixby (CFO)

Products|

* Home insurance
* Renters' insurance
* Car insurance
* Pet insurance
* Life insurance

Revenue|  US$527 million (2024)

Operating income

|  US$−204 million (2024)

Net income

|  US$−202 million (2024)
Total assets|  US$1.85 billion (2024)
Total equity|  US$593 million (2024)

Number of employees

| 1,235 (2024)
Subsidiaries| Metromile
Rating| A (Demotech)[1]
Website| lemonade.com
Footnotes / references
[2]

Lemonade, Inc. is an American insurance company. The company offers renters' insurance, homeowners' insurance, car insurance, pet insurance, and term life insurance in the United States, as well as contents and liability policies in Germany and the Netherlands and renters' insurance in France. The company is based in New York City and has approximately 2.9 million customers.[3] Lemonade does not hire human employees to process claims for customers, instead using artificial intelligence and chatbots to process claims.[4][5][6]

## Contents

* 1 History
* 1.1 2015–2019
* 1.2 2020–present
* 2 See also
* 3 References
* 4 External links

## History

### 2015–2019

Lemonade was founded by Daniel Schreiber (former president of Powermat Technologies) and Shai Wininger (co-founder of Fiverr) in April 2015.[7][8] Schreiber and Wininger were tech entrepreneurs with no insurance background.[4]

In December 2015, the company secured $13 million in seed money from Sequoia Capital and Aleph.[7][9]

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.[10] The Series B round was led by General Catalyst with participation from Thrive Capital, Tusk Ventures, and GV (formerly Google Ventures).[11][12]

In May 2016, Lemonade became one of the few insurance companies to receive B-Corporation certification.[13]

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.[14]

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.[15][16]

### 2020–present

In April 2020, the company launched in the Netherlands.[17]

On July 1, 2020, the company became a public company via an initial public offering. The company sold 11,000,000 shares of its common stock, each share priced at $29.00, under the ticker symbol "LMND" on the New York Stock Exchange.[18]

In December 2020, it began offering insurance in France.[19][20] It also won a trademark dispute with T-Mobile over the use of the color pink.[21]

In May 2021, short-seller Carson Block wrote a letter to Lemonade co-founder and chief executive Daniel Schreiber sharing details of an “accidentally discovered” security flaw that exposed Lemonade customers’ personally identifiable account data.[22] Block wrote that the bug was “unforgivably negligent,” and that his firm was shorting the company's stock “because it is clear Lemonade does not give a fuck about securing its customers’ sensitive personal information."[22][23]

In November 2021, the company announced that it would fully acquire Metromile, Inc.[24] The acquisition completed on July 29, 2022, following which Lemonade laid off 20% of Metromile's staff.[25]

In January 2026, Lemonade partnered with Tesla to launch the Lemonade Autonomous Car Insurance, a first-of-its-kind offering designed specifically for self-driving cars.[26]

## See also

* List of United States insurance companies

## References

1. ↑ "Financial Stability Ratings®: Demotech". Demotech. http://www.demotech.com/search_results_fsr.aspx?id=16023&t=2.
2. ↑ "Lemonade, Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 28 February 2024. https://www.sec.gov/ix?doc=/Archives/edgar/data/1691421/000169142124000026/lmnd-20231231.htm.
3. ↑ "Lemonade, Inc. Shareholder Letter Q3 2025". Lemonade, Inc.. https://www.lemonade.com/investor-relations-bo/wp-content/uploads/2025/11/LMND-Shareholder-Letter_Q3_25.pdf.
4. ↑ 4.0 4.1 "A New York startup shakes up the insurance business". The Economist. March 11, 2017. https://www.economist.com/finance-and-economics/2017/03/09/a-new-york-startup-shakes-up-the-insurance-business.
5. ↑ Chen, I-Chun (June 25, 2020). "Lemonade, insurer that uses bots to replace brokers, plans $286M IPO". American City Business Journals. https://www.bizjournals.com/newyork/news/2020/06/25/lemonade-insurer-that-uses-bots-plans-ipo.html.
6. ↑ Aziz, Afdel (March 9, 2020). "The Power Of Purpose: How Lemonade Is Disrupting Insurance With Goodness (And A New Foundation)". Forbes. https://www.forbes.com/sites/afdhelaziz/2020/03/09/the-power-of-purpose-how-lemonade-is-disrupting-insurance-with-goodness-and-a-new-foundation/?sh=4a3e97c67288.
7. ↑ 7.0 7.1 Shieber, Jonathan (December 8, 2015). "Sequoia Invests $13 Million In A Seed Round For Lemonade, Which Is Looking To Transform Insurance". TechCrunch. https://techcrunch.com/2015/12/08/sequoia-invests-13-million-in-a-seed-round-for-lemonade-which-is-looking-to-transform-insurance/.
8. ↑ Kauflin, Jeff; Stoller, Kristin (May 31, 2019). "First, Fire All The Brokers: How Lemonade, A Millennial-Loved Fintech Unicorn, Is Disrupting The Insurance Business". Forbes. https://www.forbes.com/sites/jeffkauflin/2019/05/02/lemonade-fintech-insurance-unicorn/.
9. ↑ "Lemonade Closes One of the Largest Seed Rounds in Sequoia's History" (Press release). Business Wire. December 8, 2015. Archived from the original on December 10, 2021. Retrieved March 15, 2021.
10. ↑ "Lemonade Announces Additional Funding by XL Innovate" (Press release). PR Newswire. August 23, 2016. Archived from the original on March 2, 2021. Retrieved March 15, 2021.
11. ↑ "Google participates in Lemonade's $34M round". Business Insider. December 7, 2016. https://www.businessinsider.com/google-participates-in-lemonades-34m-round-2016-12.
12. ↑ Chernova, Yuliya (December 5, 2016). "Insurance Startup Lemonade Raises $34 Million". The Wall Street Journal. https://www.wsj.com/articles/insurance-startup-lemonade-raises-34-million-1480957751.
13. ↑ Lynn, Jordan (May 19, 2016). "Major disruptor Lemonade in double industry first". Insurance Business. https://www.insurancebusinessmag.com/au/news/breaking-news/major-disruptor-lemonade-in-double-industry-first-57508.aspx.
14. ↑ Prang, Allison (December 19, 2017). "SoftBank Leads $120 Million Funding Round for Insurance Startup Lemonade". The Wall Street Journal. https://www.wsj.com/articles/softbank-leads-120-million-funding-round-for-insurance-startup-lemonade-1513690187.
15. ↑ Marinova, Polina (April 11, 2019). "Insurance Tech Startup Lemonade Raises $300 Million in Funding: Term Sheet for Thursday, April 11". Fortune. https://fortune.com/2019/04/11/term-sheet-thursday-april-11/.
16. ↑ Crook, Jordan (April 11, 2019). "Lemonade picks up $300 million Series D led by SoftBank Group". TechCrunch. https://techcrunch.com/2019/04/11/lemonade-picks-up-300-million-series-d-led-by-softbank-group/.
17. ↑ "Lemonade Launches in the Netherlands" (Press release). Business Wire. April 2, 2020. Archived from the original on May 10, 2020. Retrieved May 3, 2020.
18. ↑ "Lemonade Announces Pricing of Initial Public Offering" (Press release). Business Wire. July 1, 2020. Archived from the original on May 10, 2022. Retrieved December 8, 2020.
19. ↑ Dillet, Romain (December 8, 2020). "Lemonade launches its renters insurance in France". TechCrunch. https://techcrunch.com/2020/12/07/lemonade-launches-its-renters-insurance-in-france/.
20. ↑ Chen, I-Chun (December 9, 2020). "Lemonade launches its insurance services in France". American City Business Journals. https://www.bizjournals.com/newyork/news/2020/12/09/lemonade-launches-its-insurance-services-in-france.html.
21. ↑ Chen, I-Chun (December 16, 2020). "Lemonade wins in fight over the color pink against T-Mobile parent Deutsche Telekom". American City Business Journals. https://www.bizjournals.com/newyork/news/2020/12/16/lemonade-wins-in-fight-over-pink-against-t-mobile.html.
22. ↑ 22.0 22.1 Whittaker, Zack (May 13, 2021). "Short seller says Lemonade website bug exposed insurance customers' account data". TechCrunch. https://techcrunch.com/2021/05/13/lemonade-insurance-bug-exposed-account-data/.
23. ↑ "Open Letter to Dan Schreiber; May 13, 2021". Muddy Waters Capital. https://www.muddywatersresearch.com/wp-content/uploads/2021/05/MW_OpenLetterToLMND_05132021-1.pdf.
24. ↑ "Lemonade To Acquire Metromile". https://finance.yahoo.com/news/lemonade-acquire-metromile-211000043.html.
25. ↑ Mary Ann Azevedo (29 July 2022). "Lemonade closes on acquisition of insurtech Metromile, promptly lays off about 20% of its staff". TechCrunch. https://techcrunch.com/2022/07/29/lemonade-closes-on-acquisition-of-insurtech-metromile-promptly-lays-off-about-20-of-its-staff/.
26. ↑ Roy, Abhirup (22 January 2026). "Lemonade to cut insurance rates for Tesla drivers in endorsement of EV maker's software technology". https://www.reuters.com/business/autos-transportation/lemonade-halve-tesla-insurance-rates-miles-driven-with-software-assistant-2026-01-21/.

## External links

* Official website
* Business data for Lemonade, Inc.:

* Google Finance
* Yahoo! Finance
* Bloomberg
* Reuters
* SEC filings

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