Drive Power navigates to $815k angel round


Drive PowerMinneapolis-based startup Drive Power has closed an $815k angel investment round through a combination of equity and convertible debt, according to CEO Will England.

Spun-out of the University of Minnesota in January, the venture is merging mobile, SaaS, and data into DriveScribe, which is slated to launch next month with “some of the largest insurance carriers and fleet operators both nationally and internationally,” England says. DriveScribe will aim to monitor and coach driving habits — while a data byproduct, The Safe Driver Score (SDS), will be “The FICO of safe driving.”

“Now the real hard work starts,” he says, noting that proceeds will be used for ongoing technical development and continuing to grow the team of statisticians and developers. Accordingly, the company is hiring for a Ruby on Rails lead and also an iOS engineer.
KC Associates