Mobile Data Labs
Automatic mileage tracking and logging for expense reporting.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor | €0.0 | round | |
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Mobile Data Labs, the developer of the MileIQ application, specializes in automated mileage tracking for individuals and businesses. The company was founded in 2012 by Dan Bomze and Chuck Dietrich. Bomze, an entrepreneur with a background in product design from Stanford University and experience at IDEO, sought to simplify mileage reimbursement, leading to the creation of the app. Dietrich brought expertise in software development from his time as CEO of SlideRocket and general manager at Salesforce.com.
The core product, MileIQ, is a mobile app for iOS and Android that runs in the background of a smartphone, using GPS, WiFi, and mobile data to automatically track and log every drive without user intervention. Users can then classify drives as personal or business with a simple swipe. The platform caters to the self-employed, small business owners, and employees who need to log mileage for tax deductions or expense reimbursements. Its business model is subscription-based, offering a free tier for a limited number of monthly trips and paid unlimited plans for individuals and teams. For businesses, MileIQ provides a centralized dashboard for administrators to manage drivers, set custom reimbursement rates, and approve reports, aiming to save time on administrative tasks.
In 2014, MileIQ raised $3 million in seed funding and formed partnerships with FreshBooks and Concur Technologies. This was followed by a Series A round of $11-12.1 million in January 2015. Microsoft acquired Mobile Data Labs in November 2015 for an undisclosed amount, integrating the team and technology to enhance its mobile productivity offerings. However, in March 2021, Microsoft divested MileIQ, and it became an independent company once again, led by its original creators.
Keywords: mileage tracker, expense reimbursement, tax deduction, GPS tracking, mobile workforce, automatic drive detection, business expense, self-employed, fleet management, expense reporting, financial app, travel logging, productivity solutions, automated reporting, vehicle mileage, Mobile Data Labs, Dan Bomze, Chuck Dietrich, Microsoft acquisition, subscription service