Campbell, Calif.-based Coulomb Technologies Inc. has closed $47.5 million in new financing. Braemar Energy Ventures and Kleiner Perkins Caufield & Byers led the round for Coulomb, a developer of electric vehicle charging technology. Other investors include Toyota Tsusho Corp., Rho Ventures, Voyager Capital, Siemens Venture Capital GmbH, Harbor Pacific Capital Partners and Hartford Ventures.
Coulomb Technologies, Inc, the leading electric vehicle (EV) charging solutions provider, today announced that it has secured $47.5 million of financing. Braemar Energy Ventures and Kleiner Perkins Caufield & Byers led the financing and were joined by Toyota Tsusho Corporation and existing investor Rho Ventures. Existing investors including Voyager Capital, Siemens Venture Capital GmbH, Harbor Pacific Capital Partners and Hartford Ventures also participated. The financing will enable Coulomb to expand its operations and further grow the ChargePoint® Network, the largest network of independently owned charging stations in the world, and expand the deployment of its next generation cloud-based charging solutions for electric vehicles. Additionally, Coulomb will expand its position in both existing and new markets. Scott DePasquale from Braemar and Michael Linse from Kleiner Perkins have joined Coulomb’s Board of Directors.
“Our new investors bring a wealth of industry acumen and expertise in driving commercial scale around innovative technologies,” said Pat Romano, president and chief executive officer of Coulomb Technologies. “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.”
Coulomb has seen significant market adoption of its networked hardware and cloud-based service plans. EV drivers utilize the ChargePoint Network thousands of times a day to service their EV charging needs. Coulomb works closely with automobile manufacturers including Nissan, BMW, Ford, GM, and Fisker Automotive enabling their customers to easily find, reserve and pay for EV charging services. The ChargePoint Network provides the most feature-rich solution for station owners and EV drivers alike, with innovations in software services from mobile applications to vehicle telematics. Coulomb’s charging solutions provide station owners the tools they need to help better manage their charging services, including the ability to track station utilization and energy costs, set pricing, process payments and provide driver support.
“Coulomb delivers EV charging solutions that go beyond simply providing charging stations,” said Scott DePasquale, partner at Braemar Energy Ventures. “Coulomb was the first company to develop and patent networked EV charging solutions. Their approach holistically addresses the business needs in each distinct segment of the market. We look forward to supporting the company’s worldwide growth in the coming years.”
“Kleiner Perkins invests in pioneering industry leaders, companies that define their technology category, as Coulomb has with its ChargePoint solution,” said Michael Linse, partner at Kleiner Perkins Green Growth Fund. “We invested in Coulomb because of its critical role in enabling clean vehicle technology, its innovative products and software, and the scale of the ChargePoint Network. 2012 has seen the release of mass-market plug-in vehicles from the major global manufacturers and Coulomb is there to support the industry with reliable high-quality charging solutions. ChargePoint continues to enhance the driver’s experience by providing necessary infrastructure, driver services and innovative features that make the transition from petroleum to clean energy seamless.”
About Coulomb Technologies, Inc.
Coulomb Technologies is the leading electric vehicle charging solutions company. Coulomb’s ChargePoint Network is the largest online global charging network connecting electric vehicle drivers to charging stations in 14 countries. Coulomb also provides ChargePoint Network service plans and cloud-based solutions that handle all driver billing and support. Coulomb’s products provide organizations the control and flexibility they need to optimize performance of their electric vehicle charging operations. The ChargePoint Network is currently dispensing over 462 Megawatt hours of energy each month, with drivers plugging in for more than 2600 charging sessions per day.
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm’s principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams in both alternative and traditional energy markets that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at www.braemarenergy.com.
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in more than 500 ventures including AOL, Amazon.com, Citrix, Compaq, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Sun, Symantec, Verisign, WebMD and Zynga. KPCB portfolio companies employ more than 350,000 people worldwide. More than 150 of the firm’s portfolio companies have gone public, and many other KPCB ventures have achieved success through mergers and acquisitions. KPCB focuses its global investments in three practice areas – digital, greentech and life sciences – and provides entrepreneurs with company-building expertise out of its offices in Silicon Valley, Beijing and Shanghai. For more information visit KPCB at www.kpcb.com.
Toyota Tsusho Corporation
Toyota Tsusho Corporation, a member of Toyota group is a general trading company that develops business together with over 400 consolidated Group companies in Japan and overseas and with customers around the world, via a global network covering Japan and more than 60 other countries worldwide. Toyota Tsusho’s Green Mobility Solution Group focusing on electric mobility related business will work closely with Coulomb to focus efforts on next generation electric vehicle charging related business opportunities in Asia. For more information visit Toyota Tsusho at www.toyota-tsusho.com/english/.
About Rho Ventures
Rho Ventures has a multi-stage investing strategy focused on high-growth companies in large markets. Rho Ventures’ investments span new media, healthcare, IT, communications, energy technology and other disruptive technologies. Rho Ventures brings nearly 30 years of venture experience having invested in more than 200 companies, combined with its partners’ deep sector expertise and its far-reaching network to assist each portfolio company. This approach has allowed Rho to participate in the growth of some of today’s most innovative and successful companies. Rho Ventures is currently investing from Rho Ventures VI, a $510 million fund.