DETROIT ? BoostUp has secured a $1 million round of funding, led by Detroit Venture Partners. Other investors include Cornerstone Opportunity Partners, angel investor Patrick Sullivan, and IncWell. As part of IncWell?s investment, Tom LaSorda, former CEO of Chrysler, has signed on as a BoostUp advisor.
?BoostUp represents a fresh approach for both consumers and advertisers,? said Josh Linkner, managing partner and CEO of DVP. ?Consumers can systematically save for life?s biggest purchases while brands and retailers can build customer relationships early in the buying process. It is a win for both, and the company?s success will be a win for Detroit.?
BoostUp is a social saving platform that enables consumers to save up and get monetary ?boosts? toward life?s big purchases like a car, home, wedding or trip. Users can save their own money toward their goal, receive contributions from family and friends, and be rewarded with savings boosts from brands that want their business.
Detroit Venture Partners is a venture capital firm that invests in seed and early-stage technology companies with a strong emphasis on Detroit-based start-ups. It provides hands-on coaching, mentorship, support, and resources to help drive growth and success. The firm was founded in 2010 by Josh Linkner, Dan Gilbert and Brian Hermelin. To date, DVP has invested in 22 companies. For more information, visit DetroitVenturePartners.com
