Mile Auto

What Mile Auto does

Mile Auto is an Atlanta-based insurtech founded in 2017 that operates as a Managing General Agent (MGA) offering pay-per-mile auto insurance. The company targets drivers logging 10,000 miles or fewer annually — a segment it estimates represents 65% of U.S. drivers — and claims 30-40% savings versus traditional fixed-rate policies. Policies are underwritten by an AMBest "Excellent"-rated national carrier and backed by a major global reinsurer. Mile Auto is currently licensed in 8 U.S. states: Arizona, Colorado, Florida, Georgia, Ohio, Oregon, Tennessee, and Texas.

The company's core product combines a fixed monthly base rate with a per-mile charge, where mileage is reported through the proprietary MVerity system. MVerity is a computer-vision platform that processes monthly odometer photographs captured on the policyholder's smartphone, extracting odometer readings, confirming vehicle identity and photo authenticity, and validating continuity against prior submissions. This eliminates the need for a hardware telematics device, addressing consumer privacy concerns and serving as the operational foundation of the product. Distribution runs through three channels: a self-serve digital flow on mileauto.com, an agent-assisted sales channel, and OEM-embedded partnerships with Ford Motor Company and Porsche Financial Services.

Mile Auto has raised approximately $17 million across multiple rounds since 2019, including a $10.3 million seed round (May 2021) led with participation from Emergent Ventures, Sure Ventures, Thornton Capital, and Ulu Ventures; a $4 million debt facility (October 2022); and an additional $4.22 million round disclosed in December 2023. The company employs 11–50 people and is led by co-founders Fred Blumer (CEO), Joe Fuller (CTO), Jim Cook (COO), and Scott Nelson. Revenue mechanics rely on recurring monthly base premiums plus usage-based per-mile charges, with no public revenue disclosures.

Name

Mile Auto

Legal name

Mile Auto, Inc.

Website

https://mileauto.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Mile Auto is an Atlanta-based insurtech founded in 2017 that provides pay-per-mile auto insurance for low-mileage drivers, using a proprietary smartphone-based odometer verification system (MVerity) and OEM partnerships with Ford and Porsche Financial Services.

Ownership category

akta.pro rank

Product category

Usage-Based Auto Insurance

NAICS

Taxi and Ridesharing Services (485310)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Pay-Per-Mile Personal Auto Insurance (FSAJAAAC)

Keywords

• Pay-per-mile insurance
• Usage-based auto insurance
• Low-mileage car insurance
• Telematics insurance
• Auto insurance app

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Pay-Per-Mile Auto Insurance Premiums: Mile Auto charges customers a fixed monthly base rate plus a per-mile charge based on monthly odometer readings. Customers report monthly miles driven via the MVerity photo system; the per-mile rate is applied to calculate the final monthly premium. The model is designed to save low-mileage drivers 30-40% off standard insurance rates.
2. Base Rate (Storage Insurance): A fixed monthly base rate functions as coverage for the vehicle when not being driven, similar to storage insurance. Unlike traditional storage policies, the base rate allows the policyholder to drive at any time without policy updates, paying only the per-mile rate for actual driving.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Mile Auto provides pay-per-mile auto insurance priced on actual miles driven, targeting low-mileage drivers. Coverage is paired with a mobile-first quoting, policy management, and claims experience rather than a traditional agent-led model. The proprietary MVerity system verifies mileage from customer-submitted odometer photos, eliminating the need for in-vehicle tracking hardware.

Product overview

Mile Auto offers a single unified pay-per-mile auto insurance product designed for low-mileage drivers. The offering combines a base monthly rate with a per-mile charge, allowing drivers who log under 10,000 miles annually to save 30-40% compared to standard policies. The product uses the proprietary MVerity system for odometer verification via smartphone photos rather than intrusive black-box tracking devices. Coverage includes minimum state-required liability plus optional comprehensive and collision coverage.

Differentiator

Problem solved

Functional benefit

Products and services

• Pay-Per-Mile Auto Insurance

Quantifiable outcome

• 30-40% savings off standard insurance rates for low-mileage drivers
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• FordcoreStrategic or Co-development Partner · 24 May 2021Mile Auto formed a strategic partnership with Ford Motor Company in May 2021, announced alongside Mile Auto's $10.3 million seed funding. The partnership is designed to reduce insurance rates for Ford vehicle owners and leverage Ford's distribution ecosystem to grow Mile Auto's customer base. The funding was intended in part to expand Mile Auto's automaker network, with Ford being the flagship partner at the time of announcement.
• Porsche Financial ServicescoreStrategic or Co-development PartnerMile Auto collaborates with Porsche Financial Services in select states to provide usage-based auto insurance to Porsche vehicle owners. This partnership allows Mile Auto to embed its pay-per-mile insurance product within Porsche's financial services ecosystem, providing preferential coverage options to Porsche customers.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• GEICO: Largest direct-to-consumer auto insurer, with DriveEasy as its usage-based offering. Sets the benchmark for digital DTC distribution scale against which Mile Auto's funnel economics must compete.
• Progressive: Incumbent auto insurer operating Snapshot, a telematics-based usage-based insurance program. Represents the most established competitive benchmark for usage-based personal auto pricing at national scale.
• Allstate: Major personal auto incumbent with Drivewise, a usage-based insurance product. Comparable in offering mileage- and behavior-driven pricing through a national agency-and-direct distribution model.

Direct peers

• Metromile: Was the most direct pay-per-mile auto insurance competitor, offering a base rate plus per-mile pricing for low-mileage drivers. Acquired by Lemonade in 2022 after struggling with unit economics at scale, making it the most analogous operating model — and cautionary reference — for Mile Auto.
• Root Insurance: Direct-to-consumer insurtech using telematics-based pricing to underwrite personal auto. Competes with Mile Auto in the usage-based / personalized-pricing segment, though Root relies on smartphone sensor data rather than odometer-only verification.
• Tesla Insurance: OEM-embedded insurance product built around real-time vehicle data, mirroring Mile Auto's automaker-embedded distribution thesis. Represents the highest-end benchmark for embedded auto insurance tied to vehicle telemetry.

Emerging players

• Lemonade: Digital-native insurer expanding into auto via the Metromile acquisition. Overlaps with Mile Auto in AI-driven underwriting, mobile-first customer experience, and target low-mileage consumer segments.
• Noblr (USAA): Usage-based auto product from USAA that rewards safe driving behavior with lower premiums. Comparable as a behaviorally-priced personal auto product targeted at a defined member/consumer segment.
• Clearcover: Digital-first auto insurtech using AI-driven underwriting and a mobile-first claims experience. Overlaps with Mile Auto as a tech-forward personal auto MGA competing for the same digitally-engaged consumer.

Others

• Smartcar: Developer platform providing odometer and vehicle data APIs to insurers, fleets, and mobility apps. Comparable as the enabling mileage-data infrastructure layer that Mile Auto's MVerity system partially replicates internally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/drivemile
• Facebookfacebook.com/drivemile
• LinkedInlinkedin.com/company/mile-auto-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mile Auto