M&A Deal Summary

Lemonade Acquires MetroMile

On November 8, 2021, Lemonade acquired insurance company MetroMile for 500M USD

Acquisition Highlights
  • This is Lemonade’s 1st transaction in the Insurance sector.
  • This is Lemonade’s largest (disclosed) transaction.
  • This is Lemonade’s 1st transaction in the United States.
  • This is Lemonade’s 1st transaction in California.

M&A Deal Summary
Date 2021-11-08
Target MetroMile
Sector Insurance
Buyer(s) Lemonade
Deal Type Add-on Acquisition
Deal Value 500M USD

Target

MetroMile

San Francisco, California, United States
website
Entrance to MetroMile's office in Phoenix, Arizona.
Entrance to MetroMile's office in Phoenix, Arizona.
MetroMile is a provider of per-mile car insurance products and services. MetroMile was established in 2011 and is based in San Francisco, California.

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Buyer(S) 1

Buyer

Lemonade

New York, New York, United States

website

Category Company
Founded 2015
Sector Insurance
Employees1,367
Revenue 257M USD (2022)
DESCRIPTION

Lemonade is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. 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. Lemonade was formed in 2015 and is based in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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