Funding to Accelerate Growth and Market Expansion of the EV Cloud Platform
LOS ANGELES, CA, July 23, 2018 – EV Connect, a leading provider of electric vehicle (EV) charging solutions and the most advanced cloud-based EV network management platform, today announced that it has closed an $8 million financing round. The round was led by Ecosystem Integrity Fund, with participation by Montage Capital and existing investors. 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 is uniquely positioned to address the massive growth and evolution which the EV charging market will experience over the next decade”, said Devin Whatley, partner with Ecosystem Integrity Fund and new EV Connect board member. “EV Cloud is delivering unmatched innovation to any organization deploying EV charging networks, networks-within-networks and grid services.”
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.
“This funding will allow us to continue our momentum in delivering the most advanced EV charging management and grid services to our customers,” said Jordan Ramer, founder and CEO of EV Connect. “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.
About EV Connect
EV Connect has created EV Cloud™, the most innovative, robust, flexible and feature-rich cloud-based software platform for managing electric vehicle (EV) charging stations, and their interaction with utilities, energy management systems and drivers. Established in 2009, EV Connect is a leading provider of EV charging solutions for commercial, enterprise, hospitality, utility, university and government facilities. For more information, visit www.evconnect.com.
About Ecosystem Integrity Fund
Ecosystem Integrity Fund (“EIF”) is a venture capital firm that invests in early-stage companies contributing to environmental sustainability, targeting sectors including renewable energy, green chemistry, and resource efficiency. EIF takes a systems-based approach to sustainability investment, primarily investing in capital-efficient opportunities. EIF seeks out market niches that have not received the investor attention they deserve, resulting in better investment opportunities and greater impact with less capital. For more information, visit www.ecosystemintegrity.com.