About By Miles
By Miles is a company based in London (United Kingdom) founded in 2016 was acquired by Direct Line Insurance Group in April 2023. By Miles has raised $26.96 million across 4 funding rounds from investors including Octopus Ventures, Insurtech Gateway and InMotion Ventures. By Miles operates in a competitive market with competitors including Zego, Marshmallow, Cuvva, Octo Telematics and Bikmo, among others.
- Headquarter London, United Kingdom
- Stage Minicorn
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name By Miles Ltd
- Date of Incorporation 19 Mar, 2015
- Jurisdiction BROMLEY, ENGLAND
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$26.96 M (USD)
in 4 rounds
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Latest Funding Round
$18.6 M (USD), Series B
May 20, 2020
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Investors
Octopus Ventures
& 6 more
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Employee Count
Not available
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Acquired by
Direct Line Insurance Group
(Apr 25, 2023)
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Funding Insights of By Miles
By Miles has successfully raised a total of $26.96M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $18.6 million completed in May 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in By Miles
By Miles has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Octopus Ventures, Insurtech Gateway and InMotion Ventures.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investment and support for founders in technology and health sectors.
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Insurtech Gateway is focused on incubating and funding insurtech startups.
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Venture capital and startup studio firm focused on transportation tech companies
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Investor details for By Miles
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Investments & Acquisitions by By Miles
Investment portfolio details for By Miles
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Financial Statements - By Miles
Detailed financials for By Miles
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By Miles Comparisons
Peer comparison for By Miles
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Competitors of By Miles
By Miles operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zego, Marshmallow, Cuvva, Octo Telematics and Bikmo, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Motor insurance is provided for personal and work driving.
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Auto insurance is delivered via app to individual drivers.
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Online usage-based car insurance solutions
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Provider of telematics and data analytics solutions for the insurance and connected mobility sectors
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Provider of cycle insurance for damage, theft, or loss
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Detailed competitors of By Miles
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Latest news on By Miles
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Frequently Asked Questions about By Miles
By Miles was founded in 2016 and raised its 1st funding round 1 year after it was founded.
By Miles is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Maddy Howlett is the current CEO of By Miles.
By Miles is a funded company, having raised a total of $26.96M across 4 funding rounds to date.
By Miles was founded in 2016 in London, United Kingdom. An app-based platform is operated in the auto insurance sector, where coverage is provided based on miles driven by users. Insurance claim assistance is included as a service. Availability is ensured on iOS and Android devices, with pricing structured around a monthly subscription plus charges per mile. Operations focus on the UK market.
By Miles's top competitors include Marshmallow, Cuvva and Octo Telematics.
By Miles has 7 investors. Key investors include Octopus Ventures, Insurtech Gateway, InMotion Ventures, JamJar Investments, and Hambro Perks.
The valuation of By Miles is $79.1M as of May 2020.