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Softbank leads Israeli new gen insurer, Lemonade, in $300M round

Source: Ctech

Online insurance company Lemonade Inc. has signed a $300 million series D round led by existing investor SoftBank Group, the company announced Thursday. Allianz, General Catalyst, GV (formerly Google Ventures), OurCrowd, and Thrive Capital also participated. The round, which will close during the second quarter of 2019, brings Lemonade’s total funding to date to $480 million.

Founded in 2015 by Shai Wininger and Daniel Schreiber, Lemonade offers customizable property and casualty insurance policies at a flat monthly rate in 27 U.S. states. For 2018, the company had over $57 million in sales, according to its statements, up from $10.1 million in 2017. Lemonade employs 170 people, 60 of them in its Israeli offices.

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