MileIQ

b2b fintech

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

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About

MileIQ provides automatic mileage tracking for deductions and expenses. Whether you're a self-employed worker looking for a mileage deduction or a large company that wants to get a handle on mileage expenses reports, MileIQ is automatic, easy and accurate. MileIQ is mileage tracking the way you need it to work. MileIQ is a Microsoft-owned company. Wed love to hear from you: Website: http://www.mileiq.com Twitter: twitter.com/mileiq Facebook: www.facebook.com/mileiq Email: support@mileiq.com

MEDICI Analysis

MileIQ uses smart drive-detection technology to automatically log users drives and calculate their value providing them with their reimbursement or deduction that they deserve with a minimum amount of effort.

Focus

PRODUCTS & SERVICES

MileIQ is an automatic mileage tracker (powered by a drive-detection technology, with a built-in GPS) for people who need to log miles for business, or for personal reasons like for deductions on taxes. Its a free app that automatically tracks miles every time the user drives his/her car (the accuracy is claimed to be down to the fraction of a mile). Mobile Data Labs, Inc., creator of MileIQ, was acquired by Microsoft in November, 2015. The following free features are included in the free app: • Downloadable mileage tracking spreadsheet • Printable miles log • Detects drives and logs them automatically • Calculates drive distances and values • Auto-syncs drive data (in miles or kilometers form) • Stores comprehensive driving history • Sends regular drive reports

PRIMARY PROBLEM SOLVED

Paperless and accurate automated milage tracking that does not require reme

Traction

TRANSACTIONS COMMENT:

$1.3 billion in deductions.

ACTIVE USERS:

Over a million users as of Nov, 2015.

People

FOUNDERS

Chuck Dietrich

Dan Bomze

NUMBER OF EMPLOYEES

11-50

INVESTORS:

CRV

Marc Benioff

SV Angel

Tom Hulme

Trinity Ventures

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

2

TOTAL FUNDING

$15.11 M

DATE OF LAST FUNDING

Jan 2015

SEED & PRIOR FUNDING

$3 M

SEED CLOSED ON

Sep 2014

FUNDING SERIES

SERIES A  · $12.11 M  · Jan 2015

LISTED

NO

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