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Metromile

InsurtechUSA
🤝 Acquired
Peak $1.3 BillionToday
~-89%
from peak
  1. 🦄
    Became a unicorn
    Feb 2021
  2. 📈
    Peak valuation
    $1.3 Billion ’21
  3. 💔
    Became a Unitard
    Nov 2022
  4. 💸
    Last valuation
    ~$143M
Current status
Acquired by Lemonade ~$145M (2022)

How it happened

Metromile was a U.S. pay-per-mile auto insurtech that went public via SPAC in February 2021 at about a $1.3B valuation. Mounting losses and a falling share price eroded its value, and it was acquired by Lemonade in an all-stock deal worth roughly $145M that closed in 2022, leaving it far below unicorn status (~-89%).

Source: Crunchbase