Is DRIPs a real company?

Could you please clarify if DRIPs is indeed a legitimate and registered company, or is it merely a term or concept used within the realm of finance and investing? I'm particularly interested in understanding if DRIPs stands for a specific organization with a tangible presence in the market, or if it's more of a strategy or method employed by investors. Additionally, could you elaborate on the legitimacy and credibility of DRIPs, if it indeed represents a company, by providing insights into its regulatory status, history, and any notable achievements or milestones?