SemaConnect Completes Third Financing Round

$15MM Funding to Support Growing Demand for Electric Vehicle Charging Networks

Jul 20, 2015, 07:30 ET from SemaConnect

WASHINGTON, July 20, 2015 /PRNewswire/ -- SemaConnect, the North American leader in Class "A" commercial electric vehicle charging solutions, has completed its third round of financing. The $15MM funding round, led by Pear Tree Partners, LP, will enable the company to significantly expand sales, marketing, customer service and project management resources to better serve its customers in the multifamily, office, hospitality and parking property space.

SemaConnect is already a proven charging network provider to leading Class A properties across the continent. The company has deployed thousands of stations across the United States and Canada, including high profile deployments for CBRE, JLL, Hines, Greystar, Cisco Systems, and Standard Parking. These companies have successfully integrated charging stations onto the SemaConnect network to outsource the complete management of their EV experience, extend user interaction into their parking lots with the newest green property amenity, and enjoy elegant product design with the latest in networking technology.

The recent influx of support has enabled company expansion across twelve local U.S. sales and service field offices in Seattle, San Francisco, Los Angeles, Denver, San Diego, Houston, Orlando, Atlanta, Chicago, Washington DC, Long Island, and Boston.

"Our engineering team has worked tirelessly to develop a best-in-industry electric vehicle charging solution. The demand for this solution from Class A commercial real estate firms has exceeded our expectations," said SemaConnect's CEO, Mahi Reddy. "This capital raise enables us to continue to augment our product support and educational resources for our loyal property management customers. We will also continue our emphasis on a strong local presence in high electric vehicle adoption metro regions throughout the US."

"The entire SemaConnect family is energized by this expansion of resources," said Mark Pastrone, SemaConnect's Vice President, Business Development. "In addition to adding team members throughout our customer service and support functions, we are pleased to announce that Kelly McDermott has joined SemaConnect as Director of Marketing, and Don MacNeil has been promoted to Director of Sales."

Mr. Pastrone explained further that, "Kelly will lead the growth of our marketing program and focus on developing exceptional educational resources for our customer base. Don will lead our North American sales team with an emphasis on growing their contribution to our customers through an in-depth knowledge of charging solutions. Electric vehicle charging stations are still very much a new amenity for commercial properties, it is paramount that we also be the leader in customer service and educational resources."

About SemaConnect
SemaConnect is the leading provider of electric vehicle amenities to the North American commercial and residential property market. A complete electric vehicle support partner, SemaConnect delivers a truly modern property experience through innovative, elegantly designed charging stations and a robust and open network. The company has helped maximize property value and appeal through thousands of successful Class A deployments since its founding in 2008. SemaConnect remains the preferred charging solutions partner to municipal, parking, multifamily, hotel, office and retail customers across the United States and Canada. For more information, visit www.semaconnect.com.

 

SOURCE SemaConnect



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