miDrive
The complete learner driver toolkit.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| N/A | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor investor investor | €0.0 | round | |
* | £2.4m | Early VC | |
| Total Funding | 000k | ||
| GBP | 2015 | 2016 | 2017 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | (5 %) | - |
| EBITDA | 0000 | 0000 | 0000 |
| % EBITDA margin | (11056 %) | - | - |
| Profit | 0000 | 0000 | 0000 |
| % profit margin | (10757 %) | (16000 %) | - |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Company filings or news article
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miDrive was established in London, United Kingdom, in 2013, with founders including Matt Sutton and Simon Hagger. The company operated as an online and mobile-based platform designed to connect learner drivers with certified driving instructors. Over its lifetime, the firm successfully raised approximately $11 million in funding across four rounds from 67 different investors, indicating significant early-stage investor confidence in its business model.
The core of miDrive's business was a marketplace model that served two main client groups: individuals seeking driving lessons and professional driving instructors. For learners, the platform offered a comprehensive suite of services, including access to informational content and a system to find and book lessons with a suitable local instructor. For instructors, the mobile application was designed to reduce administrative tasks and help fill their schedules, particularly with last-minute cancellations. This dual-sided approach aimed to streamline the process of learning to drive while maximizing earning potential for instructors.
The company's primary product was its mobile app and accompanying web services. These tools facilitated the matching of students with instructors, simplifying the discovery and booking process. The platform's value proposition was centered on convenience and efficiency for both parties. In May 2020, the digital assets of miDrive were acquired by The AA. Following the acquisition, The AA took over operations of the miDrive website to preserve its content for learners, while the dedicated pupil and instructor app was discontinued.
Keywords: driver education, marketplace, mobile application, lesson booking, instructor management, learner drivers, automotive services, digital platform, online booking, driving instruction