miDrive set to accelerate growth with £2m investment
Driving instructor marketplace will use funding to make lessons and resources available to more learners across the UK
miDrive, the driving instructor marketplace, has landed £2m in Series A funding led by Initial Capital.
Launched in 2014 by Simon Hagger, miDrive is a marketplace for approved independent driving instructors and provides a range of mobile tools to support learning.
Users can monitor progress and receive smart lesson reports, route maps and insights on common mistakes from their instructors. To date, more than 300,000 people have used the platform to learn to drive.
The investment will be used to roll out the miDrive platform across the UK, making lessons and resources available to more learners. COO Asher Ismail was promoted to CEO at the beginning of the year.
Hagger commented: “I’ve been part of this company since the very beginning and it feels like it is entering a new phase as it has a clearer vision and strategy than ever before.
“Ismail has been instrumental in setting this new direction and revamping of the business model. Since he joined, we have transformed our revenue streams, significantly increased our revenue run-rate and are ready to start moving through the gears to scale nationally.”
Shukri Shammas, lead investor at Initial Capital, commented: “The benefits of miDrive are clear. miDrive saw great traction last year and we were particularly impressed by Ismail and his team.
“We’re confident this company has what it takes to dominate its category and turn miDrive into the most well known and respected global brand for learner drivers and instructors.”