Press Release
13 June 2017

Insurance pioneer Lemonade appoints Tim Bixby to CFO role

Lemonade, the transformative property and casualty insurance company, has appointed Tim Bixby, to the role of CFO following a successful search led by Renovata Partners.

Founded by serial entrepreneurs Daniel Schreiber and Shai Wininger, Lemonade uses artificial intelligence to cut the cost of providing insurance while delivering a delightful consumer experience.   Lemonade’s unique business model ensures neither the company, nor its policy holders are incentivised against each other in the claims process. Automation also means that the mobile-first company holds an unofficial world record for claims settlement: just three seconds.

A Dartmouth College and Harvard Business School alumnus, Tim has spent the bulk of his career at the heart of transformative, high-growth technology businesses. He served for 12 years as President and CFO of LivePerson, the world’s leading provider of cloud-based mobile and online business messaging solutions, which he helped successfully take public on the NASDAQ. Tim then joined Shutterstock, a global technology company that has created the largest and most vibrant two-sided marketplace for creative professionals to license content - including images, videos and music - as well as innovative tools that power the creative process. He again served as CFO and successfully took the business public on the NASDAQ.

Reporting to CEO and co-founder, Daniel Schreiber, Tim will have ultimate responsibility for all financial matters of the business, and will also share duties as the public face of the US business with the CEO. Schreiber says, “Lemonade is all about thinking differently, and Renovata Partners consistently enabled us to envision the talent which will help us continue creating a very different future for the insurance industry. They took the time to understand our culture, which is essential in a challenger brand; and provided sound judgement and counsel throughout the search process.”

Rick Bank of Renovata Partners says, “Few CFO’s match Tim’s track record for accelerating technology businesses successfully through a period of high growth and into the public markets. Even fewer offer management experience across so many functional disciplines. Lemonade is truly disruptive, representing not just the application of technology, but also a fundamentally new industry paradigm rooted in strong and trusted customer relationships. It’s a visionary concept, and I’m delighted that Tim is joining Lemonade’s world-class team.”

About Lemonade
Describing itself with the pithy “Instant everything. Killer prices. Big heart.”, Lemonade is disrupting the insurance business in New York, California and Illinois, and will continue rolling out across more states, as the business meets individual state regulation and licensing obligations.

The company has received $60M in funding in four rounds since December 2015, from backers including Aleph, Sequoia Capital, XL Innovate, General Catalyst, and Thrive Capital, among others. Recognizing Lemonade’s importance to the evolution of the insurance industry, the most recent round (April 2017) was funded by insurance giant, Allianz.

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