Coulomb Technologies, which operates more than 6,000 electrical vehicle charging stations in 14 countries, including dozens in the Seattle area, is fueling up with a new $47.5 million venture capital found led by Braemar Energy Ventures and Kleiner Perkins Caufield & Byers.
Existing investor Rho Ventures, Siemens Venture Capital GmbH, Harbor Pacific Capital Partners and Hartford Ventures also participated, as did Seattle-based Voyager Capital. Voyager and Rho Ventures, in fact, led a $14 million investment in the Campbell, California company in February, 2010, followed by a $15 million round later that year.
Coulomb says that more than 2,000 drivers plug into one of its electrical vehicle charging stations each day, with half of those drivers using a ChargePoint card for the transaction. The company boasts more than 800 customers, including companies such as Google, Netflix and Adobe as well as municipalities like Houston, Orlando and San Francisco.
The City of Bellevue City got its first charging station in November 2010, with mayor Don Davidson marking the occasion by saying that it was a way to encourage cleaner transportation options.
The new funds will be used to expand the network of charging stations to additional locations.
“With this financing, we are well positioned to accelerate the deployment of our EV charging solutions and further solidify our position as the market leader. These funds enable us to provide cloud-based solutions to cities, retailers, employers, parking operators and property managers that will drive the adoption of clean transportation,” said Pat Romano, president and chief executive officer of Coulomb Technologies, in a statement.
As part of the new financing round, Scott DePasquale from Braemar and Michael Linse from Kleiner Perkins have joined Coulomb’s board. Linse said that they invested because of the company’s “critical role in enabling clean vehicle technology, noting that there’s been a surge in mass-market, plug-in vehicles from manufacturers this year.