New York based home and renters insurance startup has raised a $300m Series D financing led by Softbank. The financing values the company at more than $2 billion.
Gee, you may think, but this startup is barely three years old! It’s already raised a total of $480 million and is valued at $2 billion?! Yes. And it already has 163 employees and has sold over half a million policies. It also reportedly hit $57 million in revenue last year and is on track to do $100 million this year. “In less than three years, Lemonade has expanded across the US, given back to dozens of charities chosen by our community, and fundamentally changed how a new generation of consumers interacts with insurance,” said Daniel Schreiber, CEO and cofounder, Lemonade.