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By Miles operates a pay-by-mile car insurance platform, offering a flexible and transparent model. Its core product combines an annual upfront fee for parked vehicle coverage with a variable rate per mile driven. This system integrates telematics via an in-car device to track mileage, with policy management and data accessible via its mobile application.
Founded in 2015 by James Blackham and Callum Jon Rimmer, By Miles emerged from an insight into the inefficiencies of traditional car insurance for low-mileage drivers. Blackham, CEO, and Rimmer aimed to establish an insurance model directly linked to actual usage, addressing the market's inability to fairly price for infrequent drivers.
The platform primarily serves individuals driving fewer miles annually, providing a cost-effective alternative to standard policies. By Miles' vision empowers members with control and transparency over their insurance costs. The company strives to ensure premiums accurately reflect driving behavior, providing tailored, affordable options for customers.
By Miles has raised $26.4M across 4 funding rounds.
By Miles has raised $26.4M in total across 4 funding rounds.
By Miles (often styled "By Miles") is a UK-based insurtech that sells pay-per-mile car insurance using telematics to charge drivers only for miles driven; it focuses on lower-mileage drivers and younger customers through a mobile app and device-based tracking. [4][5]
High-Level Overview
Origin Story
Core Differentiators
Role in the Broader Tech Landscape
Quick Take & Future Outlook
Quick reminder: Companies House lists the corporate filings for BY MILES TECHNOLOGY SERVICES LTD, which can be consulted for formal corporate details and filing history[4][5].
By Miles has raised $26.4M in total across 4 funding rounds.
By Miles's investors include Paul Morgenthaler, Insurtech Gateway, JamJar Investments, Octopus Ventures, Kompas VC, Ted Serbinski, InMotion Ventures, Jon Wright, Hambro Perks.
By Miles has raised $26.4M across 4 funding rounds. Most recently, it raised $18.0M Series B in May 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2020 | $18.0M Series B | Paul Morgenthaler | Insurtech Gateway, JamJar Investments, Octopus Ventures |
| Feb 1, 2019 | $7.0M Series A | Octopus Ventures | Kompas VC, Ted Serbinski, InMotion Ventures, Insurtech Gateway, JamJar Investments |
| Jul 1, 2018 | $1.0M Seed | Jon Wright | Kompas VC, Ted Serbinski |
| Jul 3, 2017 | $450K Other Equity | Hambro Perks, InMotion Ventures |