# EverCharge

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evercharge

- Industry: Energy Storage & Batteries
- Headquarters: US
- Website: www.evercharge.net
- Total disclosed funding: $1.4M
- Latest round: Seed (Aug 28, 2015)
- Investors on record: 3

## About

EverCharge, Inc. specializes in electric vehicle (EV) charging solutions, utilizing innovative technology to enhance charger installation efficiency across various sectors.Founded in 2012 in the United States, EverCharge, Inc. develops dynamic EV charging solutions driven by patented SmartPower technology. Led by CEO Jason Appelbaum, the company has successfully completed 6 deals, with its latest Series C funding round raising USD 6.00 mn on March 23, 2022, totaling USD 6.00 mn raised thus far, and currently valued at USD 30.905 mn.EverCharge specializes in dynamic electric vehicle (EV) charging solutions, primarily through its patented SmartPower technology and a unique network design that facilitates the installation of up to ten times more chargers on existing infrastructure. The core product offerings include the Level 2 EV02 charger and Cove DCFC, which cater to a diverse range of end users, including luxury condominium complexes, fleet operators, and multi-family housing developments. These solutions are designed to maximize charging output while minimizing the need for extensive infrastructure upgrades, allowing properties to become 100% EV-ready. The company targets geographic markets across the United States, focusing on urban centers where EV adoption is rapidly increasing, and where the demand for accessible charging solutions is high.EverCharge generates revenue through a combination of direct sales and partnership agreements for its charging solutions. Business transactions typically involve B2B arrangements, where property developers and fleet operators purchase the charging hardware and associated software services directly from EverCharge. The company’s flagship products, such as the Level 2 EV02 and Cove DCFC, are integrated into the client's existing infrastructure, enhancing their EV readiness. Revenue may also be supplemented through ongoing maintenance contracts and service agreements, ensuring that clients receive continued support and upgrades as needed. The company’s pricing structure reflects these offerings, providing clients flexibility in choosing tailored solutions that align with their electrification initiatives.In March 2022, EverCharge was acquired by SK E&S Co. Ltd., a subsidiary of KKR, aimed at addressing the rapid growth of the EV charging market in the U.S. and enhancing its position as a global energy solution provider. Future growth plans include enhancing product offerings and expanding into new markets, leveraging the existing infrastructure to support increased EV adoption.

## Funding rounds

- Seed, Aug 28, 2015, $1.4M — Bolt, 1776, Brick & Mortar Ventures

## Investors

- Bolt (https://capitalatlas.ai/funds/bolt) — Seed
- 1776 (https://capitalatlas.ai/funds/1776) — Seed
- Brick & Mortar Ventures (https://capitalatlas.ai/funds/brick-mortar-ventures) — Seed