|By Marketwired .||
|February 4, 2014 07:30 AM EST||
COLUMBUS, OH--(Marketwired - February 04, 2014) - Drive Capital today announced the closing of Drive Capital Fund I to invest in early and growth-stage companies across the Midwest. The firm will partner with founders creating products that solve problems in the technology, healthcare and consumer industries.
The startup firm was founded by Mark Kvamme and Chris Olsen. Experienced entrepreneurs and investors, they decided to leave Silicon Valley to pursue their investment strategy in the underserved Midwest region.
"We see a tremendous set of entrepreneurs in the Midwest. Historically, they've been forced to relocate to the coasts to access the majority of venture dollars," said Olsen. "By partnering with Drive Capital, entrepreneurs can build their companies in the Midwest, closer to their customers and talent base."
The Midwest offers structural advantages that will drive innovation and a thriving startup ecosystem for the next several decades. For example, the Midwest is currently one of the most cost-effective places in the world to build businesses. It also offers: Existing industry (22% of the US GDP is based in the Midwest); innovation (more than 25% of all research in the United States is done in the Midwest); and access to talent (150 of the Fortune 500 are in the region).
"When I first came to the Midwest I had no idea of the depth and breadth of technological innovation in the region," explained Kvamme. "We started Drive Capital to partner with these innovators to give them the tools, connections and capital they need to accomplish their dreams here. We believe the Midwest is the best place on earth to build your company -- period."
The firm previously announced investments in four Midwest companies:
- Channel IQ: Drawing on decades of experience in channel management, distribution, online retail and manufacturing, the Channel IQ team realized there had to be a better way to collect and analyze information. So, they set out to create a SaaS product to scour the web, collecting much-needed online retail intelligence. Today, the data is used by leading retailers, distributors and manufacturers to inform decision-making.
- CrossChx: One of the CrossChx founders had a close friend battle prescription drug abuse. This addiction drove his friend's family apart and strained the entire community. Today, Sean Lane and Brad Mascho have created a biometric solution to solve this problem. By scanning a patient's finger, CrossChx instantly verifies a patient's medical identity and links that person to their medical benefits so no one else can use them. Based in Columbus, Ohio, CrossChx enables a nationwide health information exchange, prevents fraud, improves healthcare and reduces costs.
- FarmLogs: Growing up in a farming family, Jesse Volmar wanted to help his family leverage technology to make farming more efficient and profitable. The Y Combinator alum created FarmLogs and relocated to Ann Arbor, Mich., to be closer to the farmers at the core of the business. Today, FarmLogs makes farming smarter, offering an online destination to store and track crop details. Already, 10,000 farmers use this information to increase crop yields by as much as 30 percent.
- Roadtrippers: As a youngster growing up in Great Britain, James Fisher completed several road trips across Africa with his father. When he visited the US, he always wondered why planning a road trip was so difficult. Why do you need multiple websites, printed materials and mobile tools just to explore the open road? Along with co-founder Tatiana Parent, James went to the Brandery in Cincinnati to solve this conundrum. Now, Roadtrippers' web and mobile applications help millions of road warriors plot their next trip and discover the coolest places in America.
About Drive Capital: Drive Capital invests in innovative technology, healthcare and consumer companies in the Midwest. We are looking for innovative entrepreneurs addressing big market opportunities. Our goal is to partner with entrepreneurs that have audacious goals and strive to build large sustainable companies. For more information, visit www.DriveCapital.com.
Taylor Ray Orsbon
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Oct. 27, 2016 04:30 PM EDT Reads: 1,333
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
Oct. 27, 2016 04:30 PM EDT Reads: 396
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Oct. 27, 2016 04:15 PM EDT Reads: 3,265
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
Oct. 27, 2016 04:15 PM EDT Reads: 1,545
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
Oct. 27, 2016 04:00 PM EDT Reads: 595
SYS-CON Events announced today that Impiger Technologies will exhibit in Booth #109 at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Impiger Technologies is a world-class, enterprise software product engineering company specializing in Mobile Application Development, Cloud Applications, Microsoft Technology Solutions, Web Technology and Telecom Services. Impiger Technologies helps enterprises improve busi...
Oct. 27, 2016 03:44 PM EDT
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
Oct. 27, 2016 03:15 PM EDT Reads: 541
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 27, 2016 02:30 PM EDT Reads: 590
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Oct. 27, 2016 02:17 PM EDT Reads: 222
As companies adopt the cloud-to-streamline workflow, deployment hasn’t been very seamless because of IT concerns surrounding security risks. The cloud offers many benefits, but protecting and securing information can be tricky across multiple cloud providers and remains IT’s overall responsibility. In his session at 19th Cloud Expo, Simon Bain, CEO of SearchYourCloud, will address security compliance issues associated with cloud applications and how document-level encryption is critical for sup...
Oct. 27, 2016 01:48 PM EDT Reads: 272
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 27, 2016 01:45 PM EDT Reads: 1,598
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 27, 2016 01:45 PM EDT Reads: 990
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 27, 2016 01:45 PM EDT Reads: 1,148
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 27, 2016 01:45 PM EDT Reads: 3,995
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 27, 2016 01:30 PM EDT Reads: 2,271