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Overview
Metromile is a digital auto insurance platform that prices premiums by the mile using data science to tailor policies to individual drivers. It works with a base rate plus a per-mile charge, and mileage is tracked to align costs with actual driving. The company differentiates itself with a digital-first user experience, automated claims processing, and smart driving tools that encourage safer driving while potentially lowering costs. In addition to direct auto insurance, Metromile licenses its technology as Metromile Enterprise to other insurers, creating a secondary revenue stream. The goal is to deliver fairer, more cost-effective insurance for urban and occasional drivers by matching premiums to actual usage and by expanding through technology licensing.
About Metromile
Industries
Data & Analytics
Enterprise Software
Financial Services
Company Size
51-200
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2011
Simplify's Take
What believers are saying
- Lemonade's 2022 acquisition injects $500M resources for platform scaling.
- Low-mileage drivers save 47% annually versus traditional insurers.
- Telematics data enables personalized policies and smart driving features.
What critics are saying
- Lemonade laid off 60 Metromile staff hours after November 2021 closure.
- $775K settlement resolves 2020-2021 data breach class action lawsuits.
- Ademi LLP probes fiduciary breaches in Lemonade merger transaction.
What makes Metromile unique
- Metromile offers pay-per-mile auto insurance using Pulse device for precise tracking.
- AVA AI assistant automates claims settlement instantly from driving data.
- Enterprise licenses claims automation and fraud detection to global insurers since 2019.
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Funding
Total Funding
$1.1B
Above
Industry Average
Funded Over
10 Rounds
Index Ventures
SV Angel
First Round CapitalBenefits
Stock options
Remote work options
Flexible hours
12 week paid parental leave
Well-being reimbursement
Annual Metroversary gifts
Stock Price
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 1%2 year growth
↑ 0%For almost all FinTechs — and especially for publicly traded firms — it has been a bumpy ride these past few years. Stock prices have been volatile. An overwhelming majority of the names tracked by the FinTech IPO Index trade with “busted” status, or below their initial offering price. Profitability remains elusive, as the cost of doing business is more expensive than it has been in decades. Sezzle CEO Charlie Youakim and Lemonade Chief Financial Officer Tim Bixby said stanching red ink on the operating line boils down to a few key principles, as they detailed in the last conversation of the continuing “Pivot to Profitability” series
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The settlement benefits individuals who received a data breach notification letter from Metromile informing them that their information may have been compromised in a data breach between July 2020 and January 2021.
Lemonade <i class="fa fa-info-circle company-popover" data-content="h3Lemonade/h3. div. table
Shortly after its acquisition of car insurer Metromile, Lemonade reportedly laid off about 20% of the Metromile staff. According to a report by Forbes, 60 Metromile employees were laid off just hours after Lemonade closed the $145m deal
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About Metromile
Industries
Data & Analytics
Enterprise Software
Financial Services
Company Size
51-200
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2011
There are no jobs for Metromile right now.
Find jobs on Simplify and start your career today