Mile Auto: Funding, Investors & Team (Oct 2026)
Mile Auto is an auto insurance company that operates on a pay-per-mile model, employing unique computer vision technologies to assist infrequent drivers in cutting costs. Customers of Mile Auto can conveniently report their mileage using their smartphones once a month, after which they are billed based on the exact number of miles driven. This straightforward approach ensures transparent billing for individuals. Furthermore, Mile Auto offers mileage-based technologies to insurance providers and automobile manufacturers seeking to offer inventive insurance solutions to their clientele. For instance, in collaboration with Porsche Financial Services, Mile Auto has established and manages Porsche Auto Insurance for all Porsche owners residing in states where Mile Auto has gained regulatory approval. Mile Auto's headquarters are located in Atlanta, Georgia.
Mile Auto has raised $18.5M across 3 funding rounds on record, the most recent an undisclosed round of $4.2M announced in Dec 2023.
That round is below the $15M median round size for Financial Services companies tracked on FundedIQ over the last two years.
Mile Auto Company Profile and Key Stats
Latest funding round on record: Dec 2023.
Mile Auto Funding Rounds
Mile Auto raised $10.3M in an undisclosed round announced in May 2021.
1.4 years later, a Debt Financing of $4.0M was announced in Oct 2022.
1.2 years later, an undisclosed round of $4.2M was announced in Dec 2023.
Mile Auto Founders and Leadership Team
No contact details are on record for this team yet.
Mile Auto Funding Compared to Other Financial Services Startups
Mile Auto's latest round of $4.2M is below the median round in Financial Services. Medians cover the last 24 months of disclosed rounds.
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Mile Auto Funding FAQs
What does Mile Auto do?
Mile Auto is an auto insurance company that operates on a pay-per-mile model, employing unique computer vision technologies to assist infrequent drivers in cutting costs. Customers of Mile Auto can conveniently report their mileage using their smartphones once a month, after which they are billed based on the exact number of miles driven. This straightforward approach ensures transparent billing for individuals. Furthermore, Mile Auto offers mileage-based technologies to insurance providers and automobile manufacturers seeking to offer inventive insurance solutions to their clientele. For instance, in collaboration with Porsche Financial Services, Mile Auto has established and manages Porsche Auto Insurance for all Porsche owners residing in states where Mile Auto has gained regulatory approval. Mile Auto's headquarters are located in Atlanta, Georgia.
How much funding has Mile Auto raised?
Mile Auto has raised $18.5M across 3 rounds on record. The most recent is an undisclosed round of $4.2M announced in Dec 2023.
When did Mile Auto last raise funding?
Mile Auto's most recent funding round on record is an undisclosed round of $4.2M, announced in Dec 2023.
Who founded Mile Auto?
FundedIQ lists Scott Nelson (Founder) at Mile Auto.
Who is the CEO of Mile Auto?
Fred Blumer is listed as CEO at Mile Auto.
Where is Mile Auto headquartered?
Mile Auto is based in Atlanta, Georgia, United States.
How many employees does Mile Auto have?
Mile Auto is in the 11-50 employee band.
How does Mile Auto's funding compare to other Financial Services startups?
Mile Auto's latest round of $4.2M is below the $15M median round size for Financial Services companies on FundedIQ across 5,752 tracked companies over the last two years.
About FundedIQ's Mile Auto Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Mile Auto is left off this page rather than filled in.
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