Wednesday, September 21, 2016

Metromile Picks Up $205.5M For Pay-As-You-Go Car Insurance

San Francisco-based Metromile, which offers up car insurance by the mile, disclosed on Wednesday that it has raised $205.5M in total funding, and acquired insurer Mosaic Insurance. The funding came from such investors as Mark Cuban, Intact Financial Corp., China Pacific Insurance Group Co, index Ventures, New Enterprise Associates, and First Round Capital. Metromile is led by Dan Preston. The funding was raised over the last few years, but only disclosed today.