Lemonade raises $120 million from SoftBank, others to take its chatbot-based insurance service global

Lemonade, a mobile-first, AI-infused insurance firm backed by chatbots and self-proclaimed ethics, has announced a $120 million series C funding round led by Japanese telecom giant SoftBank. The round saw participation from some existing investors, which include big names such as GV (Google Ventures), Sequoia Capital, and Allianz. The company told VentureBeat that "most prior investors" participated in this round, though it wouldn't divulge which ones, specifically. Founded out of New York in 2015, Lemonade is a fully licensed insurance carrier that underwrites its own policies, unlike many other entrants into the growing insurtech space. With a focus on homeowners and renters, Lemonade strives to differentiate itself in a number of ways, including by cutting bureaucracy and speeding up the application process.