Lemonade Inc., a New York City-based peer-to-peer (P2P) insurance company, secured $13m in funding.
The round was led by Aleph and Sequoia Capital.
The company will use the funds to continue to develop the platform, which is still in stealth mode.
Founded by veteran tech entrepreneurs CEO Daniel Schreiber and President and CTO Shai Wininger, Lemonade aims to leverage peer-to-peer technology to deliver to consumers a better insurance experience in comparison with the traditional one.
The company is still in beta.