Spotluck founders secure $13M for ride-share advertising startup

Bethesda-based tech startup Octopus Interactive Inc. has raised more than $13 million in a new funding round, according to a Securities and Exchange Commission filing submitted in early September.

Octopus partners with ride-share drivers and provides them tablets that passengers can use to play games and receive opportunities to win cash prizes. Brands such as Disney, Red Bull, Sprint, Target, Walmart and Marriott International have partnered with Octopus to advertise on the tablets, allowing drivers to earn up to $100 a month.

The tablet is free to drivers as long as they give 100 rides per month.

Octopus raised $4.75 million in funding in 2017 and a more than $500,000 round the year prior, according to SEC filings.

Octopus says more than 80% of drivers report higher tips or ratings as a result of having the tablet, and that 35% to 50% of passengers, whose rides average 13 minutes, will engage with the tablet in some way, according to Forbes.

The genesis of the tablet program,…

Read the full story from the Washington Business Journal.

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