By Miles
Latest round
- Series B
Last raised
- May 2020
Total raised
- $27M
Investors
- 6
About By Miles
By Miles Ltd.Founded in 2016, By Miles Ltd. operates from its headquarters in London, UK, and focuses on providing innovative car insurance solutions. The company was co-founded by Callum Rimmer and James Blackham, who both have backgrounds in entrepreneurship.04 million post-money.By Miles offers a unique pay-per-mile car insurance policy primarily targeting low-mileage drivers in the UK, specifically those who drive less than 7,000 miles annually. The core product, the By Miles insurance policy, utilizes a telematics device called the Miles Tracker, which plugs into the vehicle's OBD-II socket to accurately track mileage. This approach allows customers to pay a fixed annual fee for coverage against theft and damage while parked, along with a variable cost based on actual miles driven.By Miles generates revenue through a dual-structured pricing model that includes an upfront annual fee for vehicle coverage when parked and a variable per-mile rate based on actual driving.90. Customers subscribe to this insurance service, paying monthly premiums that reflect their driving habits. This model enhances customer engagement through features such as real-time journey cost tracking and self-service policy adjustments via their mobile app.By Miles plans to further innovate its product offerings and enhance customer experience by developing new features for the Miles Tracker and its insurance policies. Future initiatives may include entering new geographic markets, scaling its technology capabilities, and potentially launching new products that cater to evolving customer needs.
Who invested in By Miles
6 investors across 4 rounds
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Questions about By Miles
Who invested in By Miles?
By Miles has 6 investors on record across 4 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has By Miles raised?
By Miles has raised 4 venture rounds. Sign up free to see how much each round raised and the total.
When did By Miles last raise money?
By Miles's most recent round on record is a Series B, in May 2020.
What does By Miles do?
By Miles is a software company.
Where is By Miles headquartered?
By Miles is headquartered in London, UK.
Which VCs invest in companies like By Miles?
Among active investors with capital left to deploy, Index Ventures, European Investment Bank, Highland Europe and Balderton Capital back software companies at By Miles's stage. Their profiles are linked below.
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