Timeline: The Story of Lemonade

TIMELINE

THE STORY OF

Lemonade has been rated the top insurtech company in the US. According to independent reviewers its popularity is almost unprecedented in the insurance industry with 94% of policyholders likely to renew their policy, 96% recommending their services and 97% rating their claims experience positively. We track the disruptive insurtech’s journey to success.

2014 2015 2016

The meeting

Shai Wininger and Daniel Schreiber meet for the first time through a mutual friend. They discuss the possibility of starting a business. Although Wininger has launched four previous businesses, neither of them have insurance industry experience. So they hire industry veteran Ty Saglow to help them create their enterprise.

Lemonade is born

Lemonade launches as a licenced carrier that sells its own products and services and in its first funding round in December 2015, raises $13m through investors Sequoia Capital and Israeli VC Aleph.

Customer generation

Following it’s official launch, Lemonade takes off with unprecedented success, signing up more than 14,000 customers within its first six months of operation. In the same period, Series A and B funding rounds generated a further $48m in investments to expand the company. Lemonade also becomes one of the few insurance companies to receive B-Corporation certification.

2017 2019

Kerching!

The money continues to roll in as investors fall over themselves to provide capital to the growing insurtech. Allianz and Sound Ventures join up, as well as SoftBank - raising the investment total to $180m.

World domination

Lemonade announces a further $300m investment from SoftBank taking its investment capital total to $480m. In April the company launches in the Netherlands, in July Lemonade becomes a public company and in December, the insurtech wins its trademark dispute with T-Mobile over the use of pink on the Lemonade logo.