Posted May 27, 2021
Mile Auto, a U.S.-based insurtech startup, announced on Monday it raised $10.3 million through its seed funding round, which included participation from Ulu Ventures, Emergent Ventures, Thornton Capital, and Sure Ventures.
Launched in 2019, Mile Auto describes itself as a next-generation insurtech company that uses computer version and decision analytics to support pay-per-mile auto insurance offerings.
“Mile Auto has patented technologies that help low-mileage drivers save as much as 40% off their current auto insurance rates by collecting and validating odometer data without the need for extra hardware, mobile apps or GPS tracking.”
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