Lemonade, Inc. announced the extension and expansion of its financing relationship with General Catalyst (GC) - AKA ?Synthetic Agents? - whereby GC finances up to 80% of Lemonade?s spending specifically related to customer acquisition cost (CAC). Under the original agreement, GC agreed to finance up to $150 million of CAC spend for the 18 months from July 2023 through December 2024.

With today?s announcement, the agreement has been extended through December 2025, and an incremental $140 million will be made available to Lemonade.