Israeli-founded, NY-based insurance startup Lemonade has raised $300 million in a Series D funding round led by Japan’s Softbank Group Corporation, with participation from Allianz, General Catalyst, GV, OurCrowd and Thrive Capital. Forbes reported that a source said the investment now brings Lemonade’s value to over $2 billion
Lemonade uses behavioral economics, artificial intelligence and chatbots to deliver renters and homeowners insurance policies and handle claims quickly for users in nearly two dozen states across the US. It offers renters insurance starting at $5 per month, and homeowners insurance starting at $25 per month.
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The latest funding round brings total financing for Lemonade to $480 million.
The investment is set to help Lemonade expand beyond the US, with sights set on Europe where it operates its local HQ in Amsterdam.
The company was founded in 2015 by veteran Israeli tech entrepreneurs CEO Daniel Schreiber, former president of Powermat, and president and CTO Shai Winniger, a co-founder of Fiverr.com.