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
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Net Profit
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EBITDA
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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
Employee Count
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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.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $18.6M
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First Round
First Round
(29 Jun 2017)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2020 | Amount | Series B - By Miles | Valuation | CommerzVentures | |
| Feb, 2019 | Amount | Series A - By Miles | Valuation | Octopus Ventures | |
| Jul, 2018 | Amount | Seed - By Miles | Valuation | JamJar Investments |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| 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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Founded Year | Domain | Location | |
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Insurtech Gateway is focused on incubating and funding insurtech startups.
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Founded Year | Domain | Location | |
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Venture capital and startup studio firm focused on transportation tech companies
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by By Miles
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - By Miles
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
By Miles Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Motor insurance is provided for personal and work driving.
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| domain | founded_year | HQ Location |
Auto insurance is delivered via app to individual drivers.
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| domain | founded_year | HQ Location |
Online usage-based car insurance solutions
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| domain | founded_year | HQ Location |
Provider of telematics and data analytics solutions for the insurance and connected mobility sectors
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| domain | founded_year | HQ Location |
Provider of cycle insurance for damage, theft, or loss
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on By Miles
Frequently Asked Questions about By Miles
When was By Miles founded?
By Miles was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is By Miles located?
By Miles is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of By Miles?
Maddy Howlett is the current CEO of By Miles.
Is By Miles a funded company?
By Miles is a funded company, having raised a total of $26.96M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.31M, raised on Jun 29, 2017.
What does By Miles do?
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.
Who are the top competitors of By Miles?
By Miles's top competitors include Marshmallow, Cuvva and Octo Telematics.
Who are By Miles's investors?
By Miles has 7 investors. Key investors include Octopus Ventures, Insurtech Gateway, InMotion Ventures, JamJar Investments, and Hambro Perks.
What is By Miles's valuation?
The valuation of By Miles is $79.1M as of May 2020.
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