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Insurance Startup Lemonade Sues European Counterpart for Copyright Infringement
According to the suit, Berlin-based ONE reverse engineered Lemonade’s technology to create services that are “facsimiles” of those offered by Lemonade
New York and Tel Aviv-based insurance startup Lemonade Inc. has filed a federal complaint against Berlin-based digital insurance company ONE Versicherung AG for alleged copyright infringement, Daniel Schreiber, co-founder and CEO of Lemonade said in a LinkedIn post, Friday. According to the complaint, ONE, acquired by Zurich-based Wefox (FinanceApp AG) in 2017 for 10 million euros (approximately $11.6 million), used aliases to create phony accounts on Lemonade’s website in order to reverse engineer its technology and create services that are “facsimiles” of those offered by Lemonade. Founded in 2015, Lemonade’s online service offers property and casualty insurance policies in the U.S., charging a flat monthly rate. In December, Lemonade announced a $120 million Series C round led by the Softbank Group Corporation, bringing its total funding raised to $180 million.
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