Israeli-Founded Insurance Startup Lemonade Raises $120M
December 19, 2017 | Israeli-founded insurance startup Lemonade has raised $120 million in a Series C funding round led by the Softbank Group Corporation. The Japanese tech investor was joined by participating investors Google Ventures, Sequoia Capital, and Thrive Capital. Lemonade, a New York-based startup providing renters and homeowners insurance, has raised a total of $180 million since it was founded in 2015, according to Crunchbase. Crunchbase also reported that this is the third largest insurance investment deal of the year. The company said it would use the funds to “become the first consumer-facing insurer to expand internationally and would be launching new coverage products for its customers in 2018.” Lemonade’s insurance platform is powered by artificial intelligence and behavioral economics. The company was founded by veteran Israeli tech entrepreneurs CEO Daniel Schreiber, former president of Powermat and president and CTO Shai Winniger, a co-founder of Fiverr.com.