Softbank will lead a $120 million Series C in Lemonade, the AI-enabled homeowners and renters insurance startup.
Unlike most insurance companies, Lemonade acts as its own underwriter, and the latest round gives it a $500 million pre-money valuation.
For Softbank, the investment marks a further concentration in real estate and related services.
A few months ago, Softbank put $4.4 billion in WeWork and invested in WeWork China’s $500 million round.
Earlier this month, Softbank provided Compass with its entire $450 million Series E,