Metromile

Metromile pioneered the pay-per-mile car insurance model in the United States, transforming how low-mileage drivers access affordable auto insurance. Founded in 2011, the company developed a telematics-based insurance platform that charges customers a low base rate plus a per-mile fee, making car insurance fairer and more accessible for drivers who don't drive frequently. The company's innovation centered around the Metromile Pulse device, which plugs into a car's OBD-II port to accurately measure mileage and provide smart driving features.

Beyond consumer insurance, Metromile also licensed its digital insurance platform to insurance companies worldwide, offering a digitally native product that included automated claims processing, smart driving features, and comprehensive vehicle information. The company expanded from its initial launch in Oregon to serve eight states across the U.S., building a reputation for technology-driven insurance innovation.

In July 2022, Metromile was acquired by Lemonade, Inc. in an all-stock transaction valued at approximately $500 million (about $200 million net of cash). The acquisition brought together Metromile's pay-per-mile expertise and telematics technology with Lemonade's AI-powered insurance platform. Following the acquisition, Metromile's operations were integrated into Lemonade's auto insurance business, with CEO Dan Preston joining Lemonade as Senior Vice President of Strategic Initiatives. Today, Metromile's legacy continues as part of Lemonade's comprehensive insurance offerings.