# Drivetime

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/drivetime

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.drivetime.fm
- Total disclosed funding: $15M
- Latest round: Series A (Sep 9, 2019)
- Investors on record: 14

## About

Drivetime, Inc. is a company focused on delivering innovative streaming audio solutions that enhance the in-car entertainment experience for users, including personalized playlists and traffic updates.Founded in 2018 and headquartered in San Francisco, US, Drivetime, Inc. specializes in streaming audio solutions. The founders, Cory Johnson and Niko Vuori, have aimed to address the needs of automobile enthusiasts and commuters. The company raised USD 11.00 mn in Series A funding on September 9, 2019, led by Makers Fund, with participation from investors such as Amazon, Google Assistant Investments, Access Ventures, Fuel Capital, and Webb Investment Network. Drivetime, Inc. has completed two deals since its inception, with the latest funding round being equal to the total amount raised of USD 11.00 mn, resulting in a current company valuation of USD 50.48 mn.Drivetime.fm specializes in providing innovative streaming audio solutions that cater to various users, including automobile enthusiasts and daily commuters. Their core product offerings revolve around a customizable audio streaming platform that delivers tailored music and talk radio content to enhance the driving experience. This platform is designed to address the challenges of in-car entertainment by offering users the ability to select personalized playlists and receive real-time updates on traffic and road conditions. The service targets a diverse client base, primarily consisting of individual consumers within urban and suburban regions, as well as partnerships with automotive manufacturers and dealerships to integrate their technology into vehicles. Currently, their products are marketed extensively in North America, with a focus on key metropolitan areas where demand for in-car audio solutions is high.The revenue model for Drivetime.fm is structured primarily around subscriptions, allowing users access to premium features and exclusive content through various pricing tiers. Clients can opt for monthly or annual subscription plans, with additional revenue generated from partnerships with automotive manufacturers that include the integration of Drivetime.fm’s services in new vehicles. Flagship products, such as personalized playlist offerings and real-time traffic updates, are central to this revenue model, enhancing the overall value proposition for both end users and partners. Transactions are facilitated directly with consumers via a user-friendly mobile application, and partnerships with automotive retailers further expand the distribution of their audio streaming services. This multi-channel approach not only diversifies revenue streams but also strengthens customer engagement and loyalty within the competitive landscape of in-car entertainment solutions.In September 2019, Drivetime, Inc. raised USD 11 mn in Series A funding, led by Makers Fund, to support its growth initiatives. The company is focused on developing new features for its streaming platform, including enhanced personalization options and new integrations with emerging automotive technologies. Plans for geographical expansion include targeting major urban centers in the US, with an aim to establish a stronger presence in these markets by 2022. The recent funding will be utilized to accelerate product development and expand marketing efforts to attract more users and automotive partnerships.

## Funding rounds

- Series A, Sep 9, 2019, $11M — Webb Investment Network, Fuel Capital, Access Ventures, Makers Fund, Google Assistant Investments, Amazon
- Seed, Nov 7, 2018, $4M — Index Ventures, Canaan Partners, Founders Fund, Felicis Ventures, TCG, Webb Investment Network, Fuel Capital, Precursor Ventures, Access Ventures, Sinai Ventures, Steadfast Venture Capital

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Seed
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed
- Felicis Ventures (https://capitalatlas.ai/funds/felicis-ventures) — Seed
- TCG (https://capitalatlas.ai/funds/tcg) — Seed
- Webb Investment Network (https://capitalatlas.ai/funds/webb-investment-network) — Seed, Series A
- Fuel Capital — Seed, Series A
- Precursor Ventures (https://capitalatlas.ai/funds/precursor-ventures) — Seed
- Access Ventures — Seed, Series A
- Sinai Ventures (https://capitalatlas.ai/funds/sinai-ventures) — Seed
- Steadfast Venture Capital — Seed
- Makers Fund (https://capitalatlas.ai/funds/makers-fund) — Series A
- Google Assistant Investments — Series A
- Amazon (https://capitalatlas.ai/funds/amazon) — Series A