D.C. is Latest Market for Renters Insurance Startup Lemonade
by Natalie Daher
Renter’s insurance from Lemonade is now available to District of Columbia residents.
The growing rental insurance startup based in New York announced on Monday that renters and homeowners in Washington, D.C. can now apply for its insurance. The expansion comes after the company received a $120 million infusion, plus $15 million for its headquarters, largely from venture capital investors.
The peer-to-peer insurance company, which launched in 2016, has expanded to states including New Jersey, Pennsylvania, California, Georgia and Texas. Lemonade brands itself as a disruptor combining “artificial intelligence and behavioral economics” to provide affordable, easily accessible renter’s insurance for urban residents.
Lemonade’s investors include Tokyo-based Softbank Group, General Catalyst, Alphabet Inc.'s Google Ventures (GV), Sequoia Capital, Thrive Capital and Tusk Ventures.
Writer & journalist based in NY.