Exelon, the owner of several regulated electric and gas utilities in Maryland, has joined a $17.5 million Series A for Los Angeles-based ChargerHelp!, which helps manage and maintain charging networks for electric vehicles.
Los Angeles-based Blue Bear Capital led the round, while other investors included Aligned Climate Capital, which has its East Coast headquarters in New York, Energy Impact Partners and non sibi ventures. ChargerHelp! has previously raised $2.8 million from investors including Energy Impact and non sibi, both of New York.
“At this pivotal point in the fight against climate change, we are focused on finding innovative solutions to mitigate its devastating effects,” said Sunny Elebua, Exelon’s senior vice president and chief strategy and sustainability officer. Exelon’s investment in ChargerHelp! is part of its $20 million Climate Change Investment Initiative, called 2c2i. Chicago-headquartered Exelon’s subsidiaries include Baltimore Gas and Electric (BGE), Delmarva Power and Pepco.
ChargerHelp! was co-founded by CEO Kameale C. Terry, the daughter of Belizean immigrants, and Chief Workforce Officer Evette Ellis, a professional development adviser who has previously worked for the U.S. Department of Labor Job Corps. The company runs a reliability software platform and claims delivering a 97% uptime rate for charging platforms. Its so-called Reliability-as-a-Service (RaaS) offering is an app-based dispatch and deployment system to fix downed charging stations. ChargerHelp! also runs workforce development programs.
“This commitment by our investors makes it possible for ChargerHelp! to scale as the demand for our technology and service offerings has rapidly increased with more companies and municipalities recognizing the demand for cleaner, more sustainable and reliable solutions,” said Terry, a former EV Connect executive.
At EV Connect, Terry served as director of programs for the electric vehicle charging station networks and also established its Customer Experience Department. She is a fellow at Unreasonable Impact Americas and serves as an advisor to Edge Energy. Terry has a B.S. in Organizational Leadership from Azusa Pacific University and the co-creator of Culture and Climate, an annual gathering in Los Angeles.
ChargerHelp! investors have been upbeat about the startup’s prospects amid a rapid switch to electric vehicles.
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“If you can’t charge, you can’t drive,” said Nneka Kibuule, principal of Aligned Climate Capital. “ChargerHelp!’s software and technicians ensure that EV chargers are operational when drivers pull up to charge.”
Kent Lucas, general partner of non sibi ventures, praised Terry, her team, and “what she’s building.” But “we’re most excited about their technology solving the massive software and data problems electrification faces,” he added.
“Since our initial investment, we have seen growing momentum in uptime reliability and ChargerHelp! has directly serviced that market need from day one,” said Vida Asiegbu of Energy Impact Partners. “The voice of the customer from our platform of energy providers and technology enablers echoes the clear need for ChargerHelp’s market support,” the former Evercore and Citibank executive added.
