EV Connect announced that it has closed an $8 million financing round led by Ecosystem Integrity Fund, with participation by Montage Capital and existing investors.
The company, established in 2009, is supplying charging solution to Southern California Edison (SCE), Pacific Gas and Electric Company (PG&E) and Electrify America among others.
The funds will be spent on acceleration of growth and market expansion of the EV Cloud management platform in the U.S. The EV Cloud enables management of charging stations, and their interaction with utilities, energy management systems and drivers.
"Funds will be used to accelerate deployment of EV Connect’s EV Cloud™ management platform in the U.S., advance its integration with utility grid systems and expand into new global markets."
"EV Connect customers currently include Hilton, Western Digital, Electrify America, ADP, Caltrans, Lockheed Martin, Los Angeles Metropolitan Transportation Authority, New York Power Authority, and numerous municipalities. EV Cloud is the hub of innovation for EV charging management, including integration with electric utility grid and fleet operator systems which have and are being deployed nationally."
Devin Whatley, partner with Ecosystem Integrity Fund and new EV Connect board member said:
“EV Connect is uniquely positioned to address the massive growth and evolution which the EV charging market will experience over the next decade. EV Cloud is delivering unmatched innovation to any organization deploying EV charging networks, networks-within-networks and grid services.”
Jordan Ramer, founder and CEO of EV Connect said:
“This funding will allow us to continue our momentum in delivering the most advanced EV charging management and grid services to our customers. By leveraging the insights and expertise of our new investors, we expect our partnerships with electric utilities, network operators and other global organizations to rapidly expand.