Jul 24, 2018

Pay-by-mile auto insurance startup raises $90 million

Dan Primack, author of Pro Rata

Metromile, a San Francisco-based pay-by-mile auto insurance and automated claims processing company, raised $90 million in Series E funding.

Why it's a big deal: Because while everyone seems focused on an autonomous driving future, there are still plenty of present-day usage trends that require updated solutions.

  • Tokio Marine and Intact Financial co-led the round, and were joined by return backers NEA, Index, Future Fund and Section 32.
  • Bottom line: "As baby boomers retire and millennials flock to cities, two insurance giants are making a bet on people driving a lot less." — Julie Verhage, Bloomberg

Go deeper

Axios
Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 12,220,166 — Total deaths: 553,438 — Total recoveries — 6,696,632 — Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,111,902 — Total deaths: 133,195 — Total recoveries: 969,111 — Total tested: 38,032,966 — Map.
  3. Public health: More young people are spreading the virus — Cases rise in 33 states — Florida reports highest single-day death toll since pandemic began.
  4. Science: World Health Organization acknowledges airborne transmission of coronavirus.
  5. 1 🐂 thing: How the world could monitor for potential pandemic animal viruses.
Go deeper (<1 min. read)Arrow
Axios
5 hours ago - Podcasts

Inside Joe Biden's economic plan

Joe Biden on Thursday returned to his hometown of Scranton, Pennsylvania, to give his first major speech on economic policy since becoming the Democratic Party’s presumptive presidential nominee.

Axios Re:Cap digs into Biden's plans, how they developed and how they may change, with former U.S. Commerce secretary and campaign surrogate Penny Pritzker.

Dave Lawler
5 hours ago - World

Countries grapple with whether to lock back down as hotspots emerge

Tokyo in the time of coronavirus. Photo: Charly Triballeau/AFP via Getty

Many politicians and public health officials sounded a similar lockdown refrain in the spring: let’s do this right so we only have to do it once.

Reality check: While some countries have thus far managed to keep cases under control after opening up, dozens of countries that had initially turned a corner are now seeing a worrying rebound. They have to decide if and how to return to lockdown — and whether their populations will stand for it.

Go deeper (2 min. read)Arrow