confusing because many solutions require you spend more money upfront to save in the long run. Formative Labs has a different solution to get people to conserve.

While they’re still working on building their product, and founder/CEO Jessica Alter doesn’t want to give too much away, she does tell us that a key to what they’re going to do revolves around game and social mechanics. It’s about creating a consumer experience that entices people to change their behavior, she says. Hopefully, part of that is guilting them into conserving more energy when friends boast about how much they’re saving — I love those types of mind games.

And today Formative Labs is announcing an angel round of funding from an impressive roster of angels: Jeff Clavier, Keith Rabois, Dave McClure, Ben Ling, and Karl Jacob. These angels are betting that Alter and her team can use their social experience to lead to real change in the space. Alter was previously the Director of Platform and Business Development at Bebo. The amount of funding has not been disclosed.

Formative Labs was one of the groups that was initially working out of San Francisco’s Dogpatch Labs alongside companies like Burbn (now Instagram), StickyBits, Formspring, and FanPulse (now Fanvibe). Alter notes they have their own space now. She says that they’ll be launching their first product into beta testing soon.

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Authors: MG Siegler

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