MileIQ is an American-based technology company that develops a mileage tracking and logging app. The app uses automatic mileage tracking to calculate mileage while driving for business purposes that can then be used to report for reimbursement and potentially a tax deduction with the

IRS The Internal Revenue Service (IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax ...

, being attributed as the first mobile app to passively track such data. MileIQ has been compared to

Fitbit Fitbit (stylized as fitbit) is an American consumer electronics and fitness company. It produces wireless-enabled wearable technology, physical fitness monitors and activity trackers such as smartwatches, pedometers and monitors for heart rate, ...

for driving and has been discussed in national business publications that include

Fast Company ''Fast Company'' is a monthly American business magazine published in print and online that focuses on technology, business, and design. It publishes six print issues per year. History ''Fast Company'' was launched in November 1995 by Alan Web ...

, Fortune, and

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. On November 5, 2015, Microsoft announced that it had acquired MileIQ for an undisclosed amount. On March 18, 2021, MileIQ service is transitioning to a new owner, MileIQ LLC, which is led by the original creators of the mileage tracking app. MileIQ LLC is unaffiliated with Microsoft Corporation and will start operating the app and the service after May 1, 2021.

History

MileIQ was founded by Dan Bomze, an entrepreneur and investor of numerous startups. He began collaborating with a small team to design software that would simplify mileage reimbursement. Bomze obtained feedback from others who tracked mileage for reimbursement and began looking for a business partner knowledgeable with software development. He was introduced to SlideRocket CEO and former

Salesforce.com Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, a ...

general manager Chuck Dietrich who became a founding partner in the company. MileIQ was officially launched in the

App Store An App Store (or app marketplace) is a type of digital distribution platform for computer software called applications, often in a mobile context. Apps provide a specific set of functions which, by definition, do not include the running of the c ...

in 2013, later becoming available for Android.

Concur Technologies SAP Concur (formerly Concur Technologies) is an American SaaS company providing travel and expense management services to businesses. It is headquartered in Bellevue, Washington. SAP SE agreed to acquire Concur Technologies in September 2014 for ...

, a company that integrates third-party apps for users to file business reports, added MileIQ to its service offerings in early 2014. The same year, MileIQ partnered with cloud accounting software company

FreshBooks FreshBooks is accounting software operated by 2ndSite Inc. primarily for small and medium-sized businesses. It is a web-based software as a service (SaaS) model, that can be accessed through a desktop or mobile device. The company was founded i ...

. The partnership allowed users of MileIQ to automatically import their driving data into their FreshBooks accounts. MileIQ received

seed funding Seed money, sometimes known as seed funding or seed capital, is a form of securities offering in which an investor invests capital in a startup company in exchange for an equity stake or convertible note stake in the company. The term ''seed'' su ...

in amount of $3 million in late 2014, led by SV Angel, CRV, and Salesforce.com founder

Marc Benioff Marc Russell Benioff (born September 25, 1964) is an American internet entrepreneur and philanthropist. He is the co-founder, chairman and CEO of Salesforce, an enterprise cloud computing company. In September 2018, Benioff acquired ''Time (mag ...

. MileIQ added $11 million in funding in 2015 with a Series A round that included original investors as well as the addition of Trinity Ventures.

Products and services

MileIQ offers an app named after the company ("MileIQ") which passively tracks and logs mileage of users. The app works in the background of a Smartphone, tracking and recording all driving activities. It uses

artificial intelligence Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech r ...

and

machine learning Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence. Machine ...

to filter personal and business mileage based on time, day, and other factors. The app syncs with online mileage logs to document information obtained while driving. The MileIQ app is available for free download on the

and

Google Play Google Play, also known as the Google Play Store and formerly the Android Market, is a digital distribution service operated and developed by Google. It serves as the official app store for certified devices running on the Android operating sy ...

. After a one-time download and profile set-up, it works like an activity tracker and begins to log drives automatically, or allows for manual entry of travel. The user swipes left or right at the end of each trip to indicate if the trip was for personal or business. The free version of the app tracks up to 40 drives per month with a premium feature that allows for more.

References

External links

* {{Microsoft American companies established in 2013 Business software companies Microsoft acquisitions Microsoft subsidiaries

History

Products and services

See also

References

External links