Digital insurer Lemonade Inc., announced a $120 million Series C funding round led by the SoftBank Group, with participation from existing investors.
The insurance company that is run by artificial intelligence and behavioral economics said it plans to use the funds to accelerate its global expansion in 2018.
SoftBank joins prior investors Aleph, Allianz, General Catalyst, GV (Google Ventures), Sequoia Capital, Sound Ventures, Thrive Capital, Tusk Ventures and XL Innovate. The SoftBank Group’s David Thevenon will join Lemonade’s board.
“By combining big data and AI with a seamless user experience, Lemonade is truly revolutionizing the insurance industry,” said Thevenon, a senior investment professional within the SoftBank Group.
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