Just Insure, a pay-per-mile insurance technology company, has raised $8 million in a funding round.
CrossCut Ventures, ManchesterStory and Western Technology Investments co-led the investment, which brings its total raised to $15.3 million since its January 2019 inception.
Los Angeles-based Just says it uses telematics “to reward safe drivers and reduce insurer bias” by looking at factors such as how, when and where customers drive, rather than factors such as ZIP code or marital status as most traditional insurers do. Or put more simply, it charges customers only for miles driven and its rates vary based on driving behavior. This way, Just says …
