Saturday, November 7, 2015

Microsoft Acquires MileIQ App Maker Mobile Data Labs

Redmond-based Microsoft has acquired Mobile Data Labs, developer of the very popular mileage-tracking app MileIQ. Financial terms of the deal were not disclosed. 

Rajesh Jha, Corporate Vice President, Microsoft Office 365 and Outlook, wrote in a blog post:  “The team will continue to build and offer mobile productivity solutions and look to take advantage of insights from Office 365 and the Office Graph.” 

Founded by Dan Bomze and Chuck Dietrich in 2011, Mobile Data Labs is a San Francisco-based startup that built MileIQ, a very popular mileage-tracking app for iOS and Android devices. MileIQ app captures logs and calculates miles that the user drives and stores the drive log in the cloud. Mobile Data Labs was incorporated in 2012 and based in San Francisco, California. Investors include Salesforce founder and CEO marc Benioff, SV Angel, Google Ventures Europe partner Tom Hulme and Charles River Ventures. The company has a total of $15.11 million in two funding rounds, including a $12.11 million Series A led by Trinity Ventures round earlier this year.

Mobile Data Labs is the latest mobile-friendly app that Microsoft has acquired since Satya Nadella became CEO of Microsoft Corporation and started working about the company’s “the mobile first and cloud-first world.” Other Microsoft’s acquisitions include Acompli, Sunrise and Wunderlist. 

Image credit: Fortune and The Register

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