Mile Auto
Pay-Per-Mile Auto Insurance | The less you drive, the more you save.
Pay-Per-Mile Auto Insurance | The less you drive, the more you save.
Mile Auto is a pay-per-mile auto insurance company founded in 2017 in the United States. The company's slogan, "Pay-Per-Mile Auto Insurance | The less you drive, the more you save," encapsulates its business model. Mile Auto utilizes patented computer vision technologies to enable low mileage drivers to save on insurance costs. Customers use their smartphone's camera to report mileage once a month and are charged based on the exact miles driven, resulting in transparent billing. The recent $4.22M Venture Round investment received on 11 December 2023 signifies investor confidence in the innovative approach of Mile Auto. The company operates in the Insurtech and insurance industries, offering a promising solution for cost-effective auto insurance tied to actual usage.
| Funding Stage | Amount | No. Investors | Investors | Date |
|---|---|---|---|---|
| Venture Round | $4.22M | - | 11 Dec 2023 | |
| Debt Financing | $4.03M | - | 07 Oct 2022 | |
| Seed Round | $10.30M | 4 |
|
24 May 2021 |
| Venture Round | $250.00K | 1 |
|
21 Apr 2020 |
| Seed Round | $1.00M | 3 |
|
02 Feb 2019 |
No recent news or press coverage available for Mile Auto.
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