Total amount raised
$15 Millions
Latest funding date
10/1/2022
Location
Drivetrain has successfully raised $15 million in its Series A funding round, attracting a diverse group of 15 investors. The platform leverages AI to streamline financial planning, reporting, and forecasting for modern businesses.
Keep reading to explore the intricacies of Drivetrain's fundraising journey and the investors backing this innovative platform.
What Is Drivetrain?
Drivetrain, founded in 2021, is a strategic finance platform based in Sunnyvale, California. The company leverages AI to enhance financial planning and analysis for modern businesses.
Co-founded by Alok Goel and Kirk Kappelhoff, Drivetrain helps businesses build plans, budgets, and forecasts, track progress against targets, and identify bottlenecks. The platform integrates with over 200 common business tools.
With a team of 51-100 employees, Drivetrain offers features like real-time budget tracking, modeling what-if scenarios, and root cause analysis, making it a comprehensive solution for business planning and decision-making.
How Much Funding Has Drivetrain Raised?
- Series A Round
- Amount Raised: $15 million
- Date: October 18, 2022
- Lead Investors: Elevation Capital, Jungle Ventures, Venture Highway
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used to accelerate product development and expand the go-to-market team.
Total Amount Raised: $15 million. Current Valuation: Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage startups. The firm has a strong track record of supporting companies through their growth phases.
- Investment Focus Areas: Early-stage startups, technology, consumer services.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- Jungle Ventures
- Details: Jungle Ventures is a Singapore-based venture capital firm focusing on early to growth-stage companies. They have a significant presence in Southeast Asia and India.
- Investment Focus Areas: Early to growth-stage companies, technology, consumer internet.
- Notable Investments: Kredivo, Livspace, Moglix.
- Venture Highway
- Details: Venture Highway partners with early-stage startups in India, providing them with the necessary resources to scale. They focus on disruptive technology companies.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Moglix, ShareChat, Cars24.
- Vertex Venture
- Details: Vertex Venture is a global network of operator-investors managing portfolios in the US, China, Israel, India, and Southeast Asia. They focus on diverse sectors across different regions.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Grab, PatSnap, FirstCry.
- Vaidhyanathan B.
- Details: Vaidhyanathan B. is a notable angel investor with a keen interest in technology startups. He has been involved in multiple successful ventures.
- Investment Focus Areas: Technology, SaaS, fintech.
- Notable Investments: Not publicly disclosed.
What's Next for Drivetrain?
Drivetrain is poised to capitalize on the growing demand for real-time financial planning and decision-making tools. With $15 million in fresh funding, the company plans to accelerate product development and expand its go-to-market team. The platform's integration with over 200 business tools positions it well to attract a diverse range of clients, from mid-market to enterprise-stage companies.
Future fundraising opportunities seem promising as Drivetrain continues to scale and demonstrate its value. The successful Series A round indicates strong investor confidence, suggesting potential for additional rounds to support further expansion, particularly into new markets like the UK.
However, challenges lie ahead. Drivetrain must navigate competition from other financial planning platforms and ensure seamless integration with a wide array of business tools. Maintaining flexibility and scalability while addressing diverse business needs will be crucial for sustained growth.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Drivetrain and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, real-time information.
