Japanese holding company the SoftBank Group has lead a $120 million round of funding for U.S. Lemonade, a startup providing renters and homeowners insurance.
Additional investors in the round include previous backers U.S. Alphabet’s investment firm, peers Google Ventures, General Catalyst and Sequoia Capital.
The company said that it would use the money to become the first consumer-facing insurer to expand internationally and also would be launching new coverage products for its customers in 2018.
On December 5, 2016, Lemonade raised $34 million in series B funding round.