Mile Auto provides pay-by-mile auto insurance for low-mileage drivers using computer vision and decision analytics to verify odometer readings without requiring additional hardware, apps, or GPS. The company is led by CEO Fred Blumer and is currently available in Arizona, Georgia, Illinois and Oregon. Mile Auto has partnerships with automakers, including a program launched with Porsche Financial Services in 2019 and a partnership with Ford Motor Company for Ford owners to get insurance. The company plans to expand into additional states within six months and aims to make its insurance offering available to half of the U.S. auto insurance market by the end of 2021. It intends to use new funding for hiring, adding distribution channels, onboarding white-label partners, and expanding its automaker network.

Total raised

$10M

Funding rounds

1

Latest round

Seed

Latest activity

May 2021