Energy Technology Startup Drift Marketplace Brings In $7 Million

Drift Marketplace announced the completion of $7 million in financing. Six investors participated in the round, among them IA Ventures, First Round Capital, Lerer Hippeau Ventures, Macro Ventures and Liquid 2 Ventures.

Drift is a power company that “helps people access cleaner and local energy, keep the costs down, and know exactly what they are paying for.” Regardless of whether smart meters are present or not, it forecasts users’ future energy consumption in order to procure power and bring transparency to charges. If the forecast goes over, users’ accounts are credited, and if the forecast is under, they are debited.

Drift will use the proceeds to fuel its expansion initiatives.