MiDrive operates a driving test app and an instructor marketplace that has shifted from a directory model to a payments-taking platform that gamifies the learning experience. The company now takes ownership of the full learning experience, processing payments for instructors and learners and positioning itself as a platform rather than a simple matching service. Leadership says it has multiple revenue streams and a multi-million pound run rate after previously generating little revenue and making a significant loss. The team has focused on commercialising and scaling since hiring Asher Ismail as COO in May 2016 and setting a clear direction for the next three to five years. MiDrive began as a 2013 Holiday Extras spin-out and was incubated and partially funded by Holiday Extras, which maintained majority ownership after an early 2014 round. miDrive offers an iOS and Android app that combines a marketplace for finding driving instructors (filterable by gender and location) with learning materials for both the practical and theory parts of the driving test. The app includes a GPS-powered feature to track lessons on a map so learners can review progress and focus on weak areas. miDrive is free for both learners and instructors and has not yet implemented a revenue model. Since founding in 2013 the company has attracted 2,400 driving instructors and matched them with 15,000 learners; users have logged more than 50,000 kilometers of practice drives and the platform sees a 50% match rate. The startup targets roughly 750,000 people who learn to drive in the UK each year. It plans to use new funding to expand its current 10-person team and to drive growth in the UK and internationally.

Total raised

$6M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2017