Tech Company Financing Transactions
Mile Auto Funding Round
On 5/25/2021, Mile Auto secured $10.3 million in Seed funding from Emergent Ventures, Sure Ventures and Thornton Capital.
Transaction Overview
Company Name
Announced On
5/25/2021
Transaction Type
Venture Equity
Amount
$10,300,000
Round
Seed
Proceeds Purpose
The company intends to use the funds to expand availability of its insurance offering to half of the U.S. auto insurance market by the end of 2021, as well as hiring, adding new distribution channels, onboarding of white-label partners, and expanding its automaker network.
Company Information
Company Status
Private & Independent
Industry
InsureTech
Mailing Address
75 5th St. NW 3220
Atlanta, GA 30308
USA
Atlanta, GA 30308
USA
Phone
Website
Email Address
Overview
Mile Auto is a pay-per-mile auto insurance company using patented computer vision technologies to help low mileage drivers save money. Mile Auto customers use their smartphone's camera to report mileage once a month, and then pay based on exact miles driven. The result is simple, transparent billing -- pay for the miles you drive, not for the miles you don't.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Frederick Blumer
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Our team works diligently to report on every notable VC transaction. VC investment data records reported here are derived from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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