Microsoft today announced that it has acquired Mobile Data Labs. While that name probably doesn’t ring a bell, the company’s MileIQ app is one of the most popular Android and iOS mileage-tracking apps for getting deductions and reimbursements. Financial details of the transaction were not disclosed.
Founded by Dan Bomze and Chuck Dietrich in 2011, MileIQ now has over 1 million users and according to Microsoft, it has been the top-grossing finance app in Apple’s App Store for the last 20 months. The app uses the phone’s sensors to automatically capture and log trips.
MileIQ/Mobile Data Labs has raised a total of $15.11 million in two rounds, including a $12.11 million Series A led by Trinity Ventures round earlier this year. Other investors include Salesforce.com founder and CEO Marc Benioff, SV Angel, Google Ventures Europe partner Tom Hulme and Charles River Ventures.
It doesn’t look like Microsoft is planning to shut down MileIQ anytime soon, but it’s clear that the company isn’t buying Mobile Data Labs purely to bring MileIQ into its portfolio.
“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,” Microsoft corporate VP for Outlook and Office 365 Rajesh Jha writes today. Similarly, the Mobile Data Labs team today writes that it hopes to continue to build “services for self-directed workers–services like MileIQ that are automated, intuitive and give users back time, money and peace of mind.”