• FOUNDING YEAR: 2011
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    14 Feb, 2020

Description

FOCUS

PRODUCTS & SERVICES:
A pay-per-mile insurance cover with an app to make claim and communication easy.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail vehicle insurance customers
EXISTING PARTNERSHIPS:
Uber - to provide personal/commercial per-mile car insurance plan for Uber drivers
PRIMARY PROBLEM SOLVED:
The service aims to reduce car insurance prices for drivers.
COMMENT
Metromile’s companion app help drivers remember where they parked, avoid street-cleaning tickets, optimize their fuel efficiency and know when to commute for the lightest traffic.

PEOPLE

MEDICI analysts will analyze Metromile soon

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$293 Millions
DATE OF LAST FUNDING:
Jul 2018
TOTAL FUNDING COMMENT:
The company has plans to use the funds to expand its pay-per-mile insurance and to simplify every step of the insurance experience through the use of artificial intelligence (AI) in claims processing. (July 2018)
FUNDING SERIES:
SERIES A
$4 Millions Closed: Jun 2011
SERIES B
$10 Million Closed: Apr 2013
SERIES C
$40 Millions Closed: Feb 2015
SERIES D
$96 Millions Closed: Feb 2016
SERIES E
$93 Millions Closed: Jul 2018
Others
$50 Millions Closed: Sep 2016
STRATEGIC INVESTMENT:
$50 Millions
LISTED:
NO

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