AmpUp Secures $15 Million Series A to Drive Expansion in EV Charging Technology

AmpUp, a leader in electric vehicle (EV) charging platforms, has successfully raised $15 million in Series A funding. This influx of capital will accelerate the company's aggressive U.S. expansion and foster continued advancements in energy management solutions for the EV charging industry. Touchdown Ventures led the funding round, with new investors like Autotech Ventures, MUUS Climate Partners, and several others signalling robust investor confidence in AmpUp's growth potential.

Explosive Growth and Strategic Partnerships:

In the past 24 months, AmpUp has experienced exponential growth, with subscription revenue soaring over sevenfold and a threefold increase in both EV port management and charging port utilization. The company has further strengthened its momentum through a recent partnership with WEX, integrating payment solutions for fleet customers and optimizing charger utilization. With just three years in the market, AmpUp now holds 4% of the U.S. commercial Level 2 (L2) charging market and serves over 1,000 customers across the U.S. and Canada.

Strategic Appointments Driving Leadership:

AmpUp has also bolstered its leadership team with key hires. Mike DiNucci, a seasoned veteran from ChargePoint, has joined as chief revenue officer, bringing a wealth of industry knowledge. Randa McMinn steps in as chief marketing officer, leveraging her expertise in site-owner collaboration. At the same time, Reeve Harde joins as head of finance, fortifying AmpUp's financial strategy with his deep energy sector experience. These strategic appointments are set to propel AmpUp's growth even further, solidifying its leadership in the EV charging space.

About AmpUp:

Founded to simplify EV charging, AmpUp provides intelligent software solutions that balance energy usage, contributing to a cleaner, smarter grid. The company's rapid growth has captured 4% of the U.S. commercial L2 market within three years, with an impressive 98.5% charging session success rate and 99.9% uptime. Based in Santa Clara, CA, AmpUp's charging stations serve a wide range of North American clients, including JLL, CBRE, Domino's Pizza, Goodyear, Under Armour, and Hilton, positioning itself as a key player in the EV revolution.