Thursday, December 12, 2013

Maveron Gets Quick Exit At Lemon

Seattle-based venture investor Maveron has scored an exit at one of its portfolio firms, Lemon, as the mobile wallet developer was acquired today by Lifelock. Maveron was the lead investor in Lemon's Series A round in June of 2012. LifeLock said it paid $42.6M in cash plus will pay an undisclosed amount of equity earnout over the next three years for Lemon. Lemon was based in Palo Alto, and had raised $8M in its Series A last year. Amy Errett at Maveron sat on Lemon's board. Lemon's other backers include Lightspeed Venture Partners, CampVentures, Draper Fisher Jurvetson, and The Social+Capital Partnership.