Software IPOs by Year 😲 via @avenirgrowth https://t.co/j1UAeWomCQ

This business started as a single Zapier automation the founder built for a friend. Today, it does $2.5m+ in revenue ($800k+ in ARR alone), and runs with big dogs like LegalZoom. Here's how BetterLegal got started, and grew (plus untapped opportunity in the space) 👇 https://t.co/oF89cmXJIt

Still, becoming a real, regulated insurance carrier meant Lemonade needed more time to launch and more capital to grow. (A carrier typically must maintain cash reserves equal to at least a third of revenue, Sagalow notes.) So far, the capital has flowed—and from some big names. Through 2017, Lemonade raised $180 million in four rounds. In 2019, it... See more

The uncertain one: Lemonade thinks the industry doesn’t acquire enough customers online, and that this locks them out of low-premium policies. But Lemonade is also betting that they can convince customers to spend more over time.