About Drift
Drift is a company based in Seattle (United States) founded in 2015 by Ed McKenzie. It operates as a Green Energy-as-a-Service. Drift has raised $7 million across 1 funding round from investors including Lerer Hippeau, IA Ventures and First Round Capital. The company has 3 employees as of December 31, 2020. Drift offers products and services including Green Energy Solutions. Drift operates in a competitive market with competitors including LO3 Energy, Skystream Markets, Exnaton, Enermetrix and Bovlabs, among others.
- Headquarter Seattle, United States
- Employees 3 as on 31 Dec, 2020
- Founders Ed McKenzie
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Drift Marketplace, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7 M (USD)
in 1 rounds
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Latest Funding Round
$7 M (USD), Series A
Oct 23, 2017
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Investors
Lerer Hippeau
& 4 more
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Employee Count
3
as on Dec 31, 2020
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Products & Services of Drift
Drift offers a comprehensive portfolio of products and services, including Green Energy Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Green energy is provided for businesses continuously.
Funding Insights of Drift
Drift has successfully raised a total of $7M through 1 strategic funding round. The most recent funding activity was a Series A round of $7 million completed in October 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $7.0M
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First Round
First Round
(23 Oct 2017)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2017 | Amount | Series A - Drift | Valuation | IA Ventures , First Round Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Drift
Drift has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include Lerer Hippeau, IA Ventures and First Round Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Seed and early-stage venture capital firm focusing on investments in technology and fintech companies
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Founded Year | Domain | Location | |
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US focused seed and early-stage VC firm
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Founded Year | Domain | Location | |
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USA focused VC firm investing in seed and early stage startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Drift
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Drift
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Drift Comparisons
Competitors of Drift
Drift operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as LO3 Energy, Skystream Markets, Exnaton, Enermetrix and Bovlabs, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
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AI SaaS platform for energy providers managing dynamic tariffs and EV charging.
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Energy software is developed and retail energy exchange is operated.
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Offers peer-to-peer exchange of renewable power
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Drift
When was Drift founded?
Drift was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Where is Drift located?
Drift is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Is Drift a funded company?
Drift is a funded company, having raised a total of $7M across 1 funding round to date. The company's 1st funding round was a Series A of $7M, raised on Oct 23, 2017.
How many employees does Drift have?
As of Dec 31, 2020, the latest employee count at Drift is 3.
What does Drift do?
Drift is dedicated to supplying 100 green energy to businesses and suppliers around the clock. Operations are centered in the energy sector, with a strong emphasis on renewable and sustainable power solutions. Services are designed to support companies in achieving full green energy usage, regardless of external conditions. Partnerships are formed with energy suppliers to ensure consistent delivery of environmentally friendly power. The influence of Drift is noted in rapidly changing US power markets as a potential disruptive technology.
Who are the top competitors of Drift?
Drift's top competitors include LO3 Energy, Jasmine and Skystream Markets.
What products or services does Drift offer?
Drift offers Green Energy Solutions.
Who are Drift's investors?
Drift has 5 investors. Key investors include Lerer Hippeau, IA Ventures, First Round Capital, Liquid 2 Ventures, and M Ventures.
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