Today is a big day for Lemonade, as we launch our biggest expansion to date:
California marks the third state in Lemonade’s nationwide expansion and puts Lemonade on track to reach the majority of the US population in a matter of months.
For a tech company, launching in the tech capital of the world is a huge thing. For an insurance company, launching the two largest economies in the US within a matter of months, is unheard of.
That was part of the trigger that got Ashton Kutcher and the team at Sounds Ventures interested in Lemonade. He cited Lemonade’s social good mission as the reason they joined as investors.
Ashton co-founded a nonprofit called Thorn that fights child trafficking and the sexual exploitation of children through technology, and will be promoting that cause for the Lemonade Giveback. Another Lemonade advisor, Peter Diamandis, co-founder of Singularity University, chose XPRIZE as his Giveback.
Our Giveback program is an inherent part of our business model, and is dedicated to giving underwriting profits to nonprofits. Another perk of expanding is learning about new causes and charities working day in and day out to create a better reality. As we spread from state to state, it’s humbling to explore the causes that our policyholders care about.
We’re thrilled that in just under eight months since we launched Lemonade, residents of California, New York, and Illinois can now buy a new policy or painlessly switch from an existing one in no time and no paperwork at www.lemonade.com or through the Lemonade app.
And what about the rest of the US? We’ll launch more states very soon, so stay tuned here.