Drive Capital

Drive Capital

A venture and private capital firm investing in companies operating primarily out of the America Midwest.

Drive Capital is a venture and private capital firm investing in companies primarily operating out of the America Midwest that is headquartered in Columbus, Ohio and was founded in 2012 by Chris Olsen and Mark Kvamme. According to the companies website as of October 2019, Drive Capital has over $30 billion in exits between its partners, has partnered with over 100 partners, and met with over 7000 entrepreneurs since 2013. Notable investment made by Drive Capital include: CrossChx, Aver, Duolingo, Branch, ChannelIQ, Comply 365, Immuta, Hologram, and Lightstream.

Investment funds
First Fund

The first venture capital fund raised by Drive Capital was worth $250 million and was invested into 13 companies; 12 in the Midwest and one company in San Francisco, California.

Second fund

On August 29, 2016 Drive Capital announced raising $300 million for their second investment fund. Chris Olsen, a founder of Drive Capital, commented on the companies plans to use the investment fund to continue to make investments in companies operating out of the Midwest by saying:

What's interesting is that most of these companies, when you really do a hard look at who the customers are and where they're located, they're probably not in Silicon Valley. If you're selling into healthcare or finance or telecom or any retail, the headquarters of those customers are out here. We find there's an advantage for companies to be close to their customers.

Timeline

Funded Companies

Company
Description
Industry
Website
Location
READY Robotics

A robotics company developing and supplying robots for industrial automation.

Physna is a Cincinnati-based 3D modelling software company offering 3D models understandable by software applications for manufacturing, engineering, product design, 3D printing, augmented reality and virtual reality applications.

Immuta is a Boston-based provider of a cloud-native data governance platform for organizations to automate data access control, security and privacy compliance.

Greenlight Financial Technology is an Atlanta-based company offering a debit cards for kids parents can manage by app.

A data virtualization company than enables instantaneous, secure access to large, fragmented and geographically dispersed datasets to support demanding Machine Learning (ML) and Artificial Intelligence (AI) workloads.

A company that had a wait list mobile application that was used in restaurants by owners and customers alike. It was founded in 2010 and acquired by Yelp in March 2017.

Hologram is a company with a platform for building Internet of Things type products

Fast Radius is a company offering batch production, 3D printing, CNC machining and additive manufacturing company.

Non-GMO, pesticide-free, and sustainably-grown in human-free biodomes. Fifth Season is changing the game in vertical farming with the help of robotics and AI that keep fresh greens on shelves year-round.

FarmLogs is a company providing a platform that gives operational data insights to row crop farmers.

A software company offering a platform for international students to find and apply to top universities.

Duolingo is a free language-learning and crowdsourced text translation platform founded in 2011 by Luis von Ahn.

Roadtrippers is a Cincinnati-based company in the automotive industry founded by James Fisher, Tatiana Parent and John Lauck.

A company developing robots for industrial inspections

Clinc is a company with an artificial intelligence platform that looks to enable enterprises to create virtual assistants

Beam Technologies is a Columbus, Ohio-based company founded by Alex Curry, Dan Dykes and Alex X Frommeyer.

Finite State is a company that provides IoT device intelligence

Kapow Events is a company that looks to help venues book client events online

46 Results
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Associated investment funds

Investment Fund
Total offering (USD)
Total sold (USD)
Location
Date signed
Drive Capital Fund II (TE), L.P.
300,000,000
136,836,735
August 30, 2016
250,000,000
202,100,000
March 1, 2016
300,000,000
181,000,000
August 6, 2013
4,760,000
4,760,000
October 13, 2014
5,000,000
4,900,000
December 19, 2016
5 Results
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People

Name
Role
LinkedIn

Chris Olsen

Founder

Ned Schwartz

Partner

Zach Boerger

Employee

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Circulo
February 19, 2021
www.prnewswire.com:443
/PRNewswire/ -- Circulo starts with $50M out of the gate to bring much needed, disruptive innovation to Medicaid Managed Care. Medicaid is a cornerstone of the...
AlleyWatch
January 30, 2021
AlleyWatch
The Pulse of New York Tech
Berber Jin
November 9, 2020
Business Insider
These 100 venture capitalists don't work for the big-name Silicon Valley firms, but are changing the face of early-stage startups.
Jonathan Shieber
December 16, 2019
TechCrunch
Gecko Robotics has landed $40 million in financing as it looks to build an additional 40 robots over the next year to meet what the company sees as growing demand for its safety and infrastructure monitoring services. "We are growing fast solving critical infrastructure problems that affect our lives, and can even save lives," says [...]
Melia Russell
November 6, 2019
Business Insider
Drive Capital, a venture capital firm based in Columbus, Ohio, has raised a $350 million fund to invest in Midwestern startups.

References

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