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Drive Spotter secures $750,000 in seed round

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Video analytics startup Drive Spotter has announced the completion of a $750,000 seed round, led by Grinnell Mutual Reinsurance.

Drive Spotter was founded in 2015 by Chris Augeri and Andrew Prystai. Their platform allows commercial fleet managers to query dash cams and telemetry to prevent accidents.

The company is positioning itself to ultimately take advantage of self-driving vehicles.

“It is especially exciting to serve as a board member for a company that is gaining interest from vehicle manufacturers, the insurance industry and regulators with respect to creating and deploying autonomous vehicles,” said Kurt Eaves, Grinnell Mutual’s vice president of underwriting, in a press release.

Drive Spotter is a graduate of the Global Insurance Accelerator’s 2015 program in Des Moines, Iowa. This is the largest investment in a GIA portfolio company to date, according to Brian Hemesath, GIA managing director. Grinnell Mutual Reinsurance is also an investor in the GIA.

“When Drive Spotter graduated from the program, we knew they had created an innovative solution and we are excited to be part of their growth and success as they move forward,” said Hemesath, in a press release. “It is impressive to see a seed round investment be led by an insurance company.”

Drive Spotter has operations at The Exchange in Omaha, Nebraska, Gravitate in Des Moines, Iowa, as well as team members in Austin, Texas. Building teams across the region is a key part of Drive Spotter’s strategy.

“While we may call Nebraska home, some of our greatest talent and our greatest successes have been elsewhere on the Silicon Prairie,” said Augeri. “These hubs have been a crucial part of that story.”

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