About DriveFactor
DriveFactor is a company based in Glen Allen (United States) founded in 2010 was acquired by CCC in May 2015. DriveFactor has raised $8.67 million across 4 funding rounds from investors including CCC Intelligent Solutions, Safeguard Scientifics and QED Investors. DriveFactor operates in a competitive market with competitors including Clearcover, Zendrive, Metromile, Cambridge Mobile Telematics and HDVI, among others.
- Headquarter Glen Allen, United States
- SectorsTransportation, Automotive & LogisticsFinancial Services
- Website drivefactor.com
- Social LinkedIn X Facebook
- Acquired by CCC (May 2015)
- Legal Name Drivefactor Inc
- Total Equity Funding$8.67M (USD)
in 4 rounds
- Latest Funding Round$3.25M (USD), Series A
Aug 2013
- InvestorsCCC Intelligent Solutions
& 3 more
- Acquired byCCC
(May 2015)
Funding Insights of DriveFactor
DriveFactor has successfully raised a total of $8.67M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3.25 million completed in August 2013. 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 $8.67M
- Total Rounds 4
- Last Round Series A — $3.25M
- First Round $2.5M
(Jun 2011)
- Investors Count 3
All 4 funding rounds of DriveFactor with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2013 | $3.25M | Series A | – | – | – |
| Dec 2011 | $1.8M | Series A | – | – | |
| Sep 2011 | $1.12M | Seed | – | – | – |
| Jun 2011 | $2.5M | Seed | – | Middlemarch Partners | – |
4 investors in total: 4 institutional.
Investors in DriveFactor
DriveFactor has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include CCC Intelligent Solutions, Safeguard Scientifics and QED Investors.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm investing in early and growth stage companies | 1953 | safeguard.com | Radnor, United States | |
Venture capital fund investing in early-stage start-ups | – | qedinvestors.com | Alexandria, United States | |
- | – | middlemarchllc.com | - | |
Technology solutions are provided for the P&C insurance and collision repair industry by CCC Intelligent Solutions. | 1980 | cccis.com | Chicago, United States |
Investor details for DriveFactor
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of DriveFactor
4 dated milestones of DriveFactor across 5 years, from founding to its latest funding, stage changes and deals.
- Founded DriveFactor is founded.
- Funding First funding round of $2.5M.
- Funding Latest funding round, Series A, of $3.2M.
- Exit Acquired by CCC.
Competitors of DriveFactor
DriveFactor 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 Clearcover, Zendrive, Metromile, Cambridge Mobile Telematics and HDVI, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| clearcover.com | 2016 | Chicago, United States | $457.2M | 450 | Automotive insurance is delivered via an online platform. | |
| zendrive.com | 2013 | San Francisco, United States | $53.62M | 30 | AI-enabled platform offering driver behavior monitoring and analysis solutions | |
| metromile.com | 2011 | San Francisco, United States | $295.4M | 389 | App that provides usage-based auto insurance platform for individuals | |
| cmtelematics.com | 2010 | Cambridge, United States | $502.5M | 318 | Usage-based data monitoring solutions for the auto insurance industry | |
| hdvi.com | 2018 | Chicago, United States | $88.5M | 82 | Telematics-based data & monitoring solutions for auto insurers and fleet owners | |
| gotruemotion.com | 2012 | Boston, United States | $12M | 118 | AI-based driving habits are monitored for insurance insights. | |
| sigoseguros.com | 2017 | New York, United States | $22.7M | – | App-based auto insurance comparison is offered to individuals. |
Detailed competitors of DriveFactor
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Similar companies to DriveFactor
10 companies that operate in the same segment as DriveFactor (Automotive Retail & Aftersales), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Pre-owned vehicles are sold online with financing and valuation services. | 2012 | Phoenix, Arizona, United States | USD 460 M | USD 20.32 B | 17,400 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 655.23 M | USD 216.04 M | 461 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 716.48 M | USD 446.48 M | 3,992 | |
Pre-owned cars are certified, inspected, and traded online via Kavak. | 2016 | Lerma De Villada, Estado De Mexico, Mexico | USD 1.98 B | – | 2,500 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 206.3 M | – | – | |
Provider of car service and repair network | 2016 | Gurugram, Haryana, India | USD 62.01 M | USD 8.06 M | 171 | |
Second-hand cars are listed online to connect buyers and sellers. | 2003 | Mumbai, Maharashtra, India | USD 5.89 M | USD 5.28 M | 451 | |
Vehicle parts and accessories are sold via an online platform. | 1897 | Walsall, West Midlands, United Kingdom | USD 20.37 M | – | – | |
Full-stack marketplace services for car ownership are provided. | 2015 | Singapore, Singapore | USD 685.9 M | USD 806.83 M | 1,000 | |
Retailer of new automobiles, used vehicles, and related automotive news | 2008 | Jaipur, Rajasthan, India | USD 60 M | USD 289.58 M | 721 |
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Frequently Asked Questions about DriveFactor
DriveFactor was founded in 2010 and raised its 1st funding round 1 year after it was founded.
DriveFactor is headquartered in Glen Allen, United States. It is registered at Glen Allen, Virginia, United States.
DriveFactor is a funded company, having raised a total of $8.67M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2.5M, raised on Jun 2011.
DriveFactor was founded in 2010 in Glen Allen, United States, within the auto insurance sector. Online usage-based insurance is offered through telematics technology and statistical analysis of driving data. Relationships with manufacturers are leveraged to measure predictive variables. Tracking and driver feedback are delivered at low cost, enabling effective usage-based insurance programs across the United States.
DriveFactor's top competitors include Clearcover, Metromile and Sigo Insurance.
DriveFactor has 4 investors. Key investors include CCC Intelligent Solutions, Safeguard Scientifics, QED Investors, and Middlemarch Partners.
DriveFactor operates through Drivefactor Inc.
Yes. DriveFactor was acquired by CCC in May 2015.