---
schema_version: "secwatch.filing_event.v1"
accession: "0001691421-23-000084"
form_type: "8-K"
ticker: "LMND"
cik: "0001691421"
company_name: "Lemonade, Inc."
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T14:56:26.791034+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lemonade enters up to $150M customer investment agreement for sales and marketing

## Summary
- Investors provide up to $150M over 18 months; Lemonade pays share of Reference Income.
- Investors fund up to 80% of Growth Spend for each Reference Cohort.
- Company pays Investor Sharing Percentage until investors achieve 16% IRR, then retains all future income.
- Agreement created direct financial obligation; blog post with long-term projections published.
- Standard representations, warranties, and termination provisions apply.

## SEC filing metadata
- accession: 0001691421-23-000084
- form_type: 8-K
- ticker: LMND
- cik: 0001691421
- company_name: Lemonade, Inc.
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000084/0001691421-23-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000084/lmda-20230628.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001691421-23-000084
- JSON: https://secwatch.observer/filing/0001691421-23-000084.json
- Plain text: https://secwatch.observer/filing/0001691421-23-000084.txt

## Key facts
- Material Agreements
  Lemonade, Inc. entered into Customer Investment Agreement with GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors valued at up to $150 million (effective 2023-06-28).
  - Action: entry
  - Counterparty: GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors
  - Value: up to $150 million
  - Effective: 2023-06-28
  source text: On June 28, 2023 (the “Closing Date”), Lemonade, Inc. (the “Company”) entered into a Customer Investment Agreement (the “Agreement”), with GC Customer Value Arranger, LLC, as Arranger on behalf of the Investors (the “Investors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000084/0001691421-23-000084-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.