# Drive Motors

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/drive-motors

- Industry: Retail
- Headquarters: San Francisco, US
- Website: www.modalup.com
- Total disclosed funding: $21M
- Latest round: Series A (Nov 17, 2020)
- Investors on record: 13

## About

Drive Motors Inc. is a digital solutions provider that enhances online presence and operational efficiency for businesses through its innovative offerings.Drive Motors Inc., founded in 2015 and headquartered in San Francisco, US, specializes in providing digital solutions to businesses. The firm has engaged in 6 total deals, with the most recent deal occurring on November 17, 2020. Drive Motors secured USD 3.25 mn in Series A funding led by American Honda Master Trust, alongside other investors including Bullpen Capital and GMO VenturePartners. The company's founder, Alexandre Azoulay, has a background in entrepreneurship, having previously founded other ventures prior to establishing Drive Motors.The company specializes in offering a comprehensive suite of digital solutions designed to enhance online presence and operational efficiency for businesses. Core product offerings include domain registration, web hosting, and website building services, catering to a wide range of users from small startups to established enterprises. These services provide customers with the necessary tools to create and manage their online identities effectively, which is crucial for generating leads and driving sales. The company primarily serves clients in North America and Europe, addressing the needs of business owners seeking reliable and user-friendly digital infrastructure. Since its inception, the company has continuously evolved its product lineup to incorporate advanced features, such as e-commerce capabilities and security solutions, which aim to streamline customer operations and improve user experience.The company's revenue model is built around various transactional structures, including subscription services and one-time fees for domain registration and web hosting. Clients typically engage in recurring payments for ongoing services such as hosting plans, which may range from basic packages to more comprehensive solutions tailored to larger organizations. Specific pricing plans are structured to accommodate a wide array of needs, ensuring accessibility for both individual entrepreneurs and larger corporations. The flagship product, a robust website builder, is offered through different tiers that provide clients with customizable features to suit their operational demands. This transactional framework allows the company to maintain a steady revenue stream while catering to both B2B and direct consumer markets.Following its recent funding round in November 2020, in which Drive Motors Inc. raised USD 11.15 mn in Series A funding, the company plans to utilize these resources to enhance its product offerings and expand its marketing efforts. Future growth strategies include the development of new products aimed at improving customer engagement and operational efficiency. The company is also targeting expansion into the European market by the end of 2022, which will allow it to reach a broader customer base and increase its market presence.

## Funding rounds

- Series A, Nov 17, 2020, $3.3M — American Honda Master Trust, Bullpen Capital, Pegasus Tech Ventures, GMO VenturePartners, Kanoar Ventures
- Series A, Aug 18, 2020, $11M — Array Ventures
- Seed, Jul 16, 2020, $0.1M — Khosla Ventures, Bullpen Capital, Y Combinator, Flight Ventures, Marc Bell Capital, Emagen Investment Group, Perkins Coie
- Seed, Jul 18, 2017, $5.3M — Khosla Ventures, Bullpen Capital, Y Combinator, Emagen Investment Group, Perkins Coie
- Seed, Feb 11, 2016, $1.5M — Khosla Ventures, Y Combinator, Propel

## Investors

- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Propel (https://capitalatlas.ai/funds/propel) — Seed
- Bullpen Capital (https://capitalatlas.ai/funds/bullpen-capital) — Seed, Series A
- Emagen Investment Group — Seed
- Perkins Coie — Seed
- Flight Ventures (https://capitalatlas.ai/funds/flight-ventures) — Seed
- Marc Bell Capital (https://capitalatlas.ai/funds/marc-bell-capital) — Seed
- Array Ventures (https://capitalatlas.ai/funds/array-ventures) — Series A
- American Honda Master Trust — Series A
- Pegasus Tech Ventures (https://capitalatlas.ai/funds/pegasus-tech-ventures) — Series A
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Series A
- Kanoar Ventures (https://capitalatlas.ai/funds/kanoar-ventures) — Series A