StearClear Raises $600K in Funding

Published On September 21, 2012 |

StearClear, a Wycoff, NJ-based developer of a GPS-enabled designated driver service for smartphones, has raised $600k in funding.

The round was led by New Jersey’s premier angel group Jumpstart. In conjunction with the funding, veteran angels Thomas Chisholm and Neil Rosoff will join StearClear’s Board of Directors.

Founded in November 2011 by CEO Craig Sher, Ken Schwartz, Andrew Bares and Harjinder Sidhu, StearClear aims to combine the latest smartphone and GPS technologies to address the 12,000 DUI-related deaths and 900,000 DUI/DWI arrests that occur each year in the U.S. The company, which has raised more than $1,1m since the beginning of 2012 (read here), provides a “last mile” service that uses a smartphone application to provide customers with access to local driver teams that pick them up and get them and their car home responsibly.
StearClear has automated the entire workflow through their iPhone, iPad and Android apps and delivers the service through local franchises. Franchise opportunities are available across in North America, EMEA, Australia and South Africa.

FinSMEs

21/09/2012

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