Online insurer Lemonade seeking New York IPO

Firm founded by Israeli entrepreneurs Shai Wininger and Daniel Schreiber will seek to raise more than $500 million to expand operations

• By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything. And as a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil.
• Founded date 2015
• www.lemonade.com

Lemonade co-founder Shai Wininger at his office in Tel Aviv on December 20, 2017 

Daniel Schreiber

management

New York-based Lemonade Insurance Company, founded by Israeli entrepreneurs Shai Wininger and Daniel Schreiber, who seek to revolutionize the way homes are insured, are planning to hold an initial public offering of shares on a New York exchange, Calcalist reported without saying where it got the information.

The firm is seeking to raise more than half a billion dollars, at a market valuation of $2 billion, the financial website reported Tuesday.

The share issue, if successful, would make the share sale one of the most highly valued IPOs by an Israeli-linked firm, Calcalist said. Mobileye, founded by Israeli entrepreneurs Amnon Shashua and Ziv Aviram, holds the record today, having sold shares in 2014 on the New York Stock Exchange at a valuation of $5.3 billion, Calcalist said. Mobileye was later acquired in 2017 by Intel Corp. for a whopping $15.3 billion.