Metromile

Metromile

An insurance technology company offering automobile insurance at a base rate combined with payments for miles driven.

Metromile in an insurance technology company offering automobile insurance at a base rate combined with payments for miles driven that is headquartered in San Francisco, California and was founded in 2011 by David Friedberg and Steve Pretre.

Funding

Series A

On December 5, 2012 Metromile completed their series A funding round with $4 million in funding from SV Angel, New Enterprise Associates, Index Ventures, and First Round Capital.

Series B

On April 30, 2013 Metromile completed their series B funding round with $10 million in funding from New Enterprise Associates, Index Ventures, and Felicis Ventures.

Series C

On November 1, 2014 Metromile completed their series C funding round with $38.4 million in funding from Mike Ghaffary.

Series D

On September 21, 2016 Metromile completed their series D funding round with $191.5 million in funding from SV Angel, New Enterprise Associates, Mitsui & Co, Intact Financial Corporation, Index Ventures, First Round Capital, and China Pacific Insurance.

Series E

On July 24, 2018 Metromile completed their series E funding round with $90 million in funding from Tokio Marine Holdings (lead investor), Intact Financial Corporation (lead investor), Section 32, NEA, Index Ventures, and Future Fund.

Timeline

November 24, 2020

Metromile announces the PIPE (private investment in public equity) as part of a deal to go public at a projected $1.3 billion market capitalization.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Metromile Inc funding round, July 2018
90,000,000
July 2018
4 Results
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People

Name
Role
LinkedIn

Anna Ridling

Employee

Barney Schauble

Investor

Brett Crosby

Investor

Chloe Fan

Employee

Dan Preston

Founder

David Friedberg

Investor

Evan Cox

Employee

Jacquie McCarley

Employee

Jeremy Stoppelman

Investor

John Battelle

Investor

Miguel Valle

Employee

Mike Ghaffary

Investor

Prashant Shukla

Employee

Reed Bennett-Eisen

Investor

Scott Crosby

Investor

Sean Griswold

Employee

Sharon Heiny

Employee

Siddharth Jayaraman

Employee

Takashi Kusui

Employee

Vance Ingalls

Employee

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Metromile Auto Insurance Review

October 11, 2014

Pay Pennies Per Mile, People

September 10, 2018

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Victor Chatenay
November 30, 2020
Business Insider
Metromile decided to become a public company by merging with publicly traded special purpose acquisition company Insu Acquisition Corp.
Theron Mohamed
November 25, 2020
markets.businessinsider.com
Warren Buffett Getty Images Mark Cuban and Chamath Palihapitiya are challenging Warren Buffett in the car-insurance market.The 'Shark Tank' sta...
Kirsten Korosec
November 24, 2020
TechCrunch
Metromile, the pay-per-mile auto insurer that earlier this year laid off a third of its staff due to economic uncertainties caused by COVID-19, is taking the SPAC path to the public markets. The company, which was founded in 2011 and is led by CEO Dan Preston, said it has reached a merger agreement with special [...]

References

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