About Metromile
Metromile is a company based in San Francisco (United States) founded in 2011 was acquired by Lemonade in November 2021.. Metromile has raised $295.4 million across 8 funding rounds from investors including Lemonade, Mitsui & Co. and China Pacific Insurance. The company has 389 employees as of December 31, 2022. Metromile has completed 1 acquisition, including Mosaic Insurance Alliance. Metromile operates in a competitive market with competitors including Clearcover, Cambridge Mobile Telematics, HDVI, Sigo Insurance and Zubie, among others.
- Headquarter San Francisco, United States
- Employees 389 as on 31 Dec, 2022
- Stage Public
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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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Annual Revenue
$104.9 M199as on Dec 31, 2021
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Net Profit
$-216.46 M-80as on Dec 31, 2021
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EBITDA
$-197.71 M-341as on Dec 31, 2021
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Total Equity Funding
$295.4 M (USD)
in 8 rounds
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Latest Funding Round
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Investors
Lemonade
& 14 more
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Employee Count
389
as on Dec 31, 2022
- Investments & Acquisitions
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Acquired by
Lemonade
(Nov 08, 2021)
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Operations Team
32 people
Data Analysis and Operations Team
19 people
Finance and Accounting
19 people
Leadership Team
12 people
Legal and Compliance
11 people
Software Development Team
7 people
Senior Team
6 people
Board Team
5 people
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Funding Insights of Metromile
Metromile has successfully raised a total of $295.4M across 8 strategic funding rounds. 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 8
- Last Round Last Round
- First Round First Round
- Investors Count 14
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2021 | Amount | Post-IPO - Metromile | Valuation |
investors |
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| Jul, 2018 | Amount | Series E - Metromile | Valuation | Tokio Marine Holdings , Intact Ventures | |
| Sep, 2016 | Amount | Series D - Metromile | Valuation |
investors |
| 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 Metromile
Metromile has secured backing from 15 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Lemonade, Mitsui & Co. and China Pacific Insurance. 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 and private equity are invested in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital investments in technology startups and entrepreneurs.
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Founded Year | Domain | Location | |
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Venture capital investments are offered to startups by NEA.
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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 Metromile
Metromile has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Mosaic Insurance Alliance. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of home, auto, RV, business, boat & life insurance services
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2010 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Metromile
| 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 |
Metromile Comparisons
Competitors of Metromile
Metromile 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 Clearcover, Cambridge Mobile Telematics, HDVI, Sigo Insurance and Zubie, 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 |
Automotive insurance is delivered via an online platform.
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| domain | founded_year | HQ Location |
Usage-based data monitoring solutions for the auto insurance industry
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| domain | founded_year | HQ Location |
Telematics-based data & monitoring solutions for auto insurers and fleet owners
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| domain | founded_year | HQ Location |
App-based auto insurance comparison is offered to individuals.
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| domain | founded_year | HQ Location |
Vehicle data is monitored through plugin devices for usage-based insurance.
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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 Metromile
Frequently Asked Questions about Metromile
When was Metromile founded?
Metromile was founded in 2011.
Where is Metromile located?
Metromile is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Metromile a funded company?
Metromile is a funded company, having raised a total of $295.4M across 8 funding rounds to date. The company's 1st funding round was a Series D of $153M, raised on Jun 01, 2011.
How many employees does Metromile have?
As of Dec 31, 2022, the latest employee count at Metromile is 389.
What is the annual revenue of Metromile?
Annual revenue of Metromile is $104.9M as on Dec 31, 2021.
What does Metromile do?
Metromile was founded in 2011 in San Francisco, United States, and operates in the insurtech sector. A mobile app is provided for Android and iOS platforms, delivering usage-based auto insurance solutions. Coverage includes liability protection, auto collision, and personal injury protection. Artificial intelligence is utilized to automate claims processing and reduce losses from fraud. Services are targeted at individual drivers.
Who are the top competitors of Metromile?
Metromile's top competitors include Clearcover, Sigo Insurance and Cambridge Mobile Telematics.
How many acquisitions has Metromile made?
Metromile has made 1 acquisition, including Mosaic Insurance Alliance.
Who are Metromile's investors?
Metromile has 15 investors. Key investors include Lemonade, Mitsui & Co., China Pacific Insurance, Intact Ventures, and Tokio Marine Holdings.
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