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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.
July 24, 2018
Metromile raises a $90,000,000 series E round from Tokio Marine Holdings.
July 2018
Metromile raises a $90,000,000 series E round from Future Fund, Index, Intact Financial, New Enterprise Associates, Section 32 and Tokio Marine Holdings.
April 30, 2013
Metromile raises a $10,000,000 series B round from Felicis Ventures, Index Ventures and New Enterprise Associates.
December 5, 2012
Metromile raises a $4,000,000 series A round from First Round Capital, Index Ventures, New Enterprise Associates and SV Angel.
June 1, 2011
Metromile was founded by Dan Preston and David Friedberg.

Funding rounds

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
Michael Tattersall
May 19, 2021
Business Insider
Metromile and Hippo are collaborating on a discounted auto and homeowners insurance bundle, which will help the insurtechs better compete in the US.
Victor Chatenay
May 4, 2021
Business Insider
Auto insurance customers shopped around more than ever amid the pandemic, causing a 3% increase in their migration to the five biggest US insurers.
Alex Wilhelm
February 11, 2021
TechCrunch
We spoke to MetroMile CEO Dan Preston about what the day meant for his company and learn more the SPAC process for our own enjoyment.
Alex Wilhelm
February 10, 2021
TechCrunch
What we learn today will hopefully bear on other insurtech startups that want liquidity during the current cycle.
Zack Whittaker
February 2, 2021
TechCrunch
The auto insurance startup just secured a $50 million investment from a former Uber executive.
Carter Johnson
February 1, 2021
Business Insider
The $250 billion a year auto insurance industry is dominated by players like Allstate and GEICO. Former Uber exec Ryan Graves is betting on Metromile.
Alex Wilhelm
December 3, 2020
TechCrunch
Earlier this week, TechCrunch covered the latest venture round for AgentSync, a startup that helps insurance agents comply with rules and regulations. But while the product area might not keep you up tonight, the company's growth has been incredibly impressive, scaling its annual recurring revenue (ARR) 10x in the last year and 4x since the [...]
Kirsten Korosec
November 30, 2020
TechCrunch
The Station is a weekly newsletter dedicated to all things transportation. Sign up here -- just click The Station -- to receive it every weekend in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. For [...]
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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