Total amount raised
$72.6 Millions
Latest funding date
5/1/2016
Location
ChargePoint has successfully raised significant funding through multiple rounds, supported by a diverse group of investors. The company is publicly traded under the stock symbol NYSE:CHPT.
Keep reading to explore the intricacies of ChargePoint's fundraising journey and the investors backing this innovative platform.
What Is ChargePoint?
ChargePoint, founded in 2007 in Campbell, California, is a leading provider of electric vehicle (EV) charging solutions. The company was established by Dave Baxter, Harjinder S. Bhade, Milton T. Tormey, Praveen Mandal, and Richard Lowenthal.
ChargePoint offers a comprehensive EV charging platform that includes hardware, software, and services, catering to businesses, fleets, and individual drivers. Their solutions enable users to set up, manage, and monitor their EV charging operations seamlessly.
With a workforce of 1001-5000 employees, ChargePoint is dedicated to making EV charging accessible and efficient across Europe and North America.
How Much Funding Has ChargePoint Raised?
- Amount Raised: $45M
- Date: Jan 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Amount Raised: $240M
- Date: Nov 2018
- Lead Investors: Quantum Energy Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the deployment of EV charging infrastructure.
- Amount Raised: $127M
- Date: Aug 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market presence and infrastructure.
- Amount Raised: Not publicly disclosed
- Date: Oct 2020
- Lead Investors: Hayman Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the company's financial position post-IPO.
- Amount Raised: $225M
- Date: Mar 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing operations and expansion efforts.
- Amount Raised: $300M
- Date: Apr 2022
- Lead Investors: Antara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and infrastructure development.
- Amount Raised: $480K
- Date: Jun 2023
- Lead Investors: Illinois Environmental Protection Agency
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance EV charging infrastructure in Illinois.
- Amount Raised: $150M
- Date: Jul 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the company's expansion and operational needs.
- Amount Raised: $944.4K
- Date: Aug 2023
- Lead Investors: PennDOT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve EV charging infrastructure in Pennsylvania.
- Amount Raised: $19M
- Date: Sep 2024
- Lead Investors: California Department Of Transportation, California Energy Commission
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand EV charging infrastructure along California highways.
Total Amount Raised: $1.107B. Current Valuation: Not publicly disclosed.
Key Investors
- California Energy Commission
- Details: The California Energy Commission (CEC) is the state's primary energy policy and planning agency. It focuses on promoting energy efficiency, renewable energy, and reducing greenhouse gas emissions.
- Investment Focus Areas: Renewable energy, energy efficiency, transportation.
- Notable Investments: Not publicly disclosed.
- California Department Of Transportation
- Details: The California Department of Transportation (Caltrans) is responsible for the design, construction, and maintenance of California's state highway system. It aims to provide a safe, sustainable, and efficient transportation system.
- Investment Focus Areas: Transportation infrastructure, public transit, highway maintenance.
- Notable Investments: Not publicly disclosed.
- PennDOT
- Details: The Pennsylvania Department of Transportation (PennDOT) oversees transportation issues in Pennsylvania, including highways, public transit, and railroads. It aims to provide a safe and efficient transportation network.
- Investment Focus Areas: Highway infrastructure, public transit, railroads.
- Notable Investments: Not publicly disclosed.
- Illinois Environmental Protection Agency
- Details: The Illinois Environmental Protection Agency (IEPA) is dedicated to safeguarding the environment and public health in Illinois. It focuses on air quality, water quality, and waste management.
- Investment Focus Areas: Environmental protection, air quality, water quality.
- Notable Investments: Not publicly disclosed.
- Antara Capital
- Details: Antara Capital is an investment firm that focuses on event-driven strategies and special situations. It aims to generate high returns through a deep understanding of market dynamics.
- Investment Focus Areas: Event-driven strategies, special situations, distressed assets.
- Notable Investments: Not publicly disclosed.
What's Next for ChargePoint?
ChargePoint is poised to capitalize on significant opportunities, particularly with the $19 million NEVI funding to install 248 DC fast charging ports along California highways. This expansion is part of a broader initiative, with nearly $90 million secured for 700 fast charging ports across 21 states, enhancing the EV charging network's accessibility and reliability.
Future fundraising prospects look promising, with continued participation in government programs like NEVI. However, ChargePoint faces challenges such as managing the installation and maintenance of numerous charging stations and addressing stock performance issues. Strategic partnerships and additional funding rounds will be crucial for sustaining growth and overcoming these hurdles.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like ChargePoint and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
