After postponing its public debut in 2019, Lemonade filed its S-1 earlier this month. Will the company prove opponents wrong about the viability of a digital-first insurance carrier, or fall short in the public market?
A New York-based insurtech unicorn is planning to go public.
Lemonade, last valued at $2B, filed its S-1 early last week and is looking to raise $100M in its offering. While investors have deployed billions of dollars into the insurtech ecosystem over the last several years, Lemonade would be the first major insurtech unicorn IPO in the US.
The company is licensed to provide homeowners and renters insurance across 40 states in the US and 31 countries across Europe. To date, Lemonade has raised $480M in total disclosed funding and is backed by prominent investors including SoftBank Group, Sequoia Capital, General Catalyst, and Tusk Ventures.
