Heres what co-founders of Driveway Software, Igor Katsman and Jake Diner, have to say about their one-year anniversary of the MC Accelerator, in this weeks guest post:
With the vast majority of startups failing within their first year of establishment, finding a solid foundation to work with was no easy task.
What once resembled a pipe dream, we set out to create a revolutionary tool that has the potential to save drivers money, ensure greater levels of vehicle safety as well as providing a one of a kind B2B service that allows insurance companies to tailor policies to a users specific driving style.
With the help of MassChallenge, we were given the opportunity to refine the product, define a strategy, and meet insurance industry executives.
Nearly one year after being invited to participate in MassChallenge, and after achieving Silver Winner status, the Driveway team finds itself miles ahead of where the company was just one year ago.
After raising seed investment in July we made fantastic headway, going so far as to close a partnership and sales contract with a large Texas insurance company to whom Driveway will be providing a unique smartphone app that enables individually tailored insurance policies. Unlike most early-stage startups, in less than a year the application was even able to garner a profit.
Most recently, the technology has become available to iPhone and Android users in the form of an easy to use Smartphone app. In less than two months of its release, the app has achieved over 30 thousand downloads.
So whats next for the Driveway team? To be a household name in driving technology. We aim to become like a credit score for driving, and revolutionize the industry.
To join the smart driving revolution, download the app and dont forget to check out our twitter, like us on Facebook and follow our blog!