Lemonade Announces Extension of CAC Financing Agreement with General Catalyst

NEW YORK--(BUSINESS WIRE)--Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the extension and expansion of its financing relationship with General Catalyst (GC) - AKA ‘Synthetic Agents’ - whereby GC finances up to 80% of Lemonade’s spending specifically related to customer acquisition cost (CAC). Under the original agreement, GC agreed to finance up to $150 million of CAC spend for the 18 months from July 2023 through December 2024. With today’s announce ...