Seattle-based startup, Drift, will shake up the current energy marketplace by giving the power to the residential, business and commercial customers.

Founded in 2014 in New York, Drift co-founders and tech veterans Greg Robinson and Ed McKenzie have made it their priority to provide better energy options for the consumer. Now, anyone can buy power directly from local solar, wind, hydroelectric and other sources.

While the company focuses on saving the earth, Drift wants to keep more money in your pocket as well by promising customers 10 percent or more savings compared to traditional utilities.

In the three years since Drift's founding, the company has reeled in about $10 million in funding from IA Ventures, First Round Capital, Lerer Hippeau Ventures, Macro Ventures, Liquid 2 Ventures and others. The bulk of that funding – roughly $7 million – has come by way of a larger round.

“Unlike traditional utilities and retail power companies, we are using the latest technology to bring the advantages of sophisticated energy trading to everyone,” Robinson told GeekWire. “Advantages like: choice, transparency and savings.”

According to GeekWire, Drift differs from traditional energy companies because it uses machine learning and artificial intelligence to predict the amount of energy a customer will need. The company earns revenue by charging a weekly $1 subscription fee as well that will also keep prices down.

“Greg and Ed previously started a cleantech company, but realized that the real issue in energy was not the end user but rather the artificially inflated price caused by the broken supply chain,” Drift’s website reads.

At the moment, Drift operates only in New York and government regulation may be the biggest obstacle in Drift's availability elsewhere.

Drift

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