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Drive Capital invests in CrossChx and Roadtrippers

Drive Capital, a venture capital investment firm targeting promising companies in the Midwest, has made its first two investments – Roadtrippers, a web-based company that helps travellers plan road trips, and CrossChx, which provides patient identification and security technologies for healthcare facilities.

 
According to Drive Capital’s co-founders and principals, Mark Kvamme and Chris Olsen, both are consistent with the firm’s commitment to Midwest-based companies and investments.
 
“Aspiring entrepreneurs like Sean Lane and James Fisher represent some of the great individuals in the Midwest building world class companies," says Olsen. "We are excited to be given the opportunity to be their business partners as they grow their respective companies."
 
"Since moving here, I have had the opportunity to meet several companies and entrepreneurs that would rival those in any other place in the world, and these two companies and these entrepreneurs are among the very best," Kvamme says. "We can’t wait to see what they become."
 
CrossChx develops and deploys real-time biometric solutions to prevent medical identity fraud, improve health outcomes, and enable nationwide health information exchange. By scanning the patient’s fingerprint, CrossChx instantly verifies a patient’s identity and links the patient to the appropriate medical benefits to make it easier for healthcare professionals to ensure the right person receives the right care.
 
"When CrossChx was exploring growth options, we made a conscious decision to partner with accomplished investors that could provide more than just capital, and we found that strategic partner in Drive Capital," says Sean Lane, chairman and co-founder, CrossChx. "Drive Capital grasped our long-term vision and has been instrumental to the rapid growth of CrossChx."
 
Roadtrippers’ web-based software application allows travellers to map routes, book hotels, identify deals, and research special events in and around their destination while calculating approximate trip mileage, travel time, and fuel costs.
 
"In very practical terms, Drive Capital’s investment has given us the financial resources to allow me to spend less time fundraising and more time on growth. When I’m not fundraising, our company grows faster," says James Fisher, founder and chief executive of Roadtrippers. "But more than that, the experience they bring has helped us scale up and execute our vision at an accelerated pace. They understand not just the opportunity we have, but the challenges we will face. There was great alignment between all parties, and they have backed my vision as founder of this company 100 per cent."

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