Categories
Blog Uncategorized

ChargerHelp Co-Founder Kameale Terry, an Alum of Cohort 3, Secures Impressive $17.5 Million in Series A Funding Post Accelerator

ChargerHelp! Continues to Lead the Way with Technology Solutions Focused on Increasing EV Charger Uptime

Los Angeles, CA – ChargerHelp! a leader in operations, maintenance and workforce development for the EV industry, announced today that it raised $17.5M in Series A financing. The round was led by Blue Bear Capital with investments from Aligned Climate Capital, Exelon Corporation, and previous investors which include Energy Impact Partners and non sibi ventures among a number of other committed insiders. –The fresh capital helps the company double down on their commitment to reliable EV charging. ChargerHelp! has experienced month-over-month revenue growth and increased customer traction in response to efforts to educate and service the market.

“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 Kameale C. Terry, CEO of ChargerHelp!.

As EV adoption continues to grow, the need for reliable charging stations is vital for the industry’s expansion. Through this raise, ChargerHelp! will continue to build out their EMPWR reliability software platform, expand their Reliability as a Service (RaaS) offering, and grow their workforce development programs – all essential products and services needed to maintain and repair EV charging station infrastructure.

“Dependable charger uptime is critical for widespread vehicle electrification, and ChargerHelp! presents the most differentiated and data-driven approach in the market,” said Vaughn Blake, Partner at Blue Bear Capital. “Kameale and Evette bring a passion and expertise to the vertical that is honestly unmatched. They will win and Blue Bear will be there to support them at every step along the way.”

“We are usually expecting an availability of industrial equipment in the high 90% range. With EV chargers today, it’s 60% or sometimes less, an unacceptable situation for equipment that is often publicly subsidized. ChargerHelp! is the only company today that is using data and software to help with this programmatically,” said Blue Bear Capital Partner Carolin Funk, PhD.

With the growth of EV deployment under the National Electric Vehicle Infrastructure (NEVI) Formula Program, many public EV chargers are falling short of the mark set by NEVI’s requirements. Yet ChargerHelp!’s EVSE technician support and data-driven insights have shown they can help their customers meet the required 97% uptime. These solutions inspired past investors like Elemental Excelerator and current ones to support the company’s mission.

“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, Investor at Energy Impact Partners. “We are excited to continue to support ChargerHelp’s mission to drive first-class service and operations in vehicle electrification. The voice of the customer from our platform of energy providers and technology enablers echoes the clear need for ChargerHelp’s market support.”

“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.”

Early last year, ChargerHelp! launched Reliability as a Service (RaaS), a labor subscription service that provides peace of mind to charging station owners and operators, who require fast and reliable O&M services at consistent, hassle-free prices. As the only national EVSE-dedicated operations and maintenance service provider, ChargerHelp! takes a technology-first approach to providing their clients with reliable, predictable, and hassle-free EV charging.

“Of course, we’re very impressed by Kameale, her team, and what she’s building,” said Kent Lucas, General Partner of non sibi ventures. “But we’re most excited about their technology solving the massive software and data problems electrification faces.”

“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, senior vice president and Chief Strategy and Sustainability Officer for Exelon. “Through our 10-year, $20 million Climate Change Investment Initiative (2c2i), we are investing in companies like ChargerHelp! that are working to reduce those impacts in the communities we serve, particularly in under-resourced areas, which are disproportionately affected by climate change.”

# # #

About ChargerHelp!:

ChargerHelp!’s app-based dispatch and deployment system solves the industrywide problem of downed electric vehicle charging stations by providing on-demand repairs and maintenance support from trained local workforces. This capability, provided at scale, is essential to support sharp growth in EV charging infrastructure and dramatically improve efficiency, turnaround time, and network availability while reducing costs across the networks. With the ChargerHelp!’s service offering, partner EV charging owners and operators can meet new service-level requirements and win new EVSE contracts to meet the exponential growth in charging demands. For more information, visit www.chargerhelp.com.

Categories
Blog Uncategorized

Plug In South LA Announces Third Tech Accelerator Program To Benefit Black And Latinx Communities

Plug In South LA has announced its third tech accelerator program focused on Black and Latinx communities.

In a press release announcement, it was revealed that they are looking for startup founders focused on healthcare tech, climate and sustainability, digital media, and educational technology. The benefits of the tech accelerator will include potential grants of up to $40,000 as well as possible seed investments and pilot partnerships. Mentors in the program will include leaders and executives from the California Health Care Foundation, Courtside Ventures, RareBreed Ventures, and Zeal Capital Partners, among others.

“We are keen to help Founders secure capital and investment plus help them leverage the LA start ecosystem to develop traction and momentum around their company,” notes Derek Smith, founder of Plug In South LA, in the press release announcement.

In addition to the new tech accelerator, Plug In South LA is known for Urban Tech Connect, a prominent annual business conference that equips tech company founders from African American, Latinx, and underrepresented communities in Los Angeles and beyond with a platform to plug in to the greater technology ecosystem and to network with other founders, VCs, angel investors, tech influencers, and industry leaders.

Plug In South LA cultivates a space for conversations and networking focused on creating a community and hub for innovation in South LA. From conferences, tech demos, workshops, and intimate salons, Plug In offers members modern and contemporary programming aimed at entrepreneurship, innovation, technology, and creativity.

For more information about the tech accelerator, check out the Plug In LA website.

Categories
Blog Uncategorized

We need more talented Black VCs.

In the venture capital community, things are changing. Two Black celebrities have become venture capitalists, partly to make the industry more inclusive. Tariq “Black Thought” Trotter, The Roots’ lead rapper, joined VC firm Impellent Ventures earlier this year and spoke with Forbes about his approach there. And, from the archives, here’s a 2019 cover story about tennis superstar Serena Williams and her venture capital firm Serena Ventures, which she’s expected to focus on more after she retires from the sport. “I want to be remembered for things I’ve done off the court,” she told Forbes, “lives I’ve had an impact on and voices that have been heard through mine.”

Read More here

Categories
Uncategorized

Ally Financial Celebrates Black Business Month with $30M investment to support black entrepreneurship

Did you know that Black Founders begin their startup journey with at least $72,000 less than their white counterparts on average? Aside from receiving less capital, Black businesses are three times more likely to experience lower profits as a result of less funding. Many more issues have been addressed by Black founders in recent years. In honor of Black Business Month, Ally Financial has pledged to address the issues and help founders of color rise back up in their businesses by investing $30 million in venture capital funds. 

Ally Financial will also partner with Fearless Fund as a primary investor to develop programs that advocate for and encourage Black entrepreneurship, as well as education on opportunities to grow their wealth, inspiring an entire generation of future Black business owners.In addition to assisting and honoring Black-owned businesses across the country, the finance firm will make a consistent effort to assist businesses and their founders with any necessary funding and consultative services. Fearless Venture Capital Week, a celebration of women entrepreneurs, will be held now that Ally is a top investor with Fearless Fund. 

Ally Financial, an industry-leading digital bank holding company committed to its saying of “Do It Right,” has a reputation for standing by its consumers on a commercial and corporate level. Ally is made up of independent auto finance and insurance operations and has won awards for its digital bank service, which offers unique mortgage lending, POS personal lending programs, and an array of deposit products not offered by other competitors. 

Read more here

Categories
Uncategorized

Great Non-Profit Alert!

Minor-I.T., a black-owned tech nonprofit, provides opportunities for African American and black minority children to participate and excel in the information technology sector through education, equity, and empowerment. This organization hopes to have individual volunteers who are also people of color available to answer questions and provide additional mentorship, in addition to providing tools to learn programs within the I.T. career path.

According to the nonprofit, it will ensure cultural competency for all young people who express an interest and will remain committed to seeing them develop into the next generation of information technology leaders

Minor-I.T. operates in a similar manner to a tech start-up, but students learn how to support, stand up, code, lead, and build almost every aspect of I.T. in a corporate setting.

Read more here.

Categories
Uncategorized

The black tech community takes over Disney World

 Blacks In Technology, LLC and the Blacks In Technology Foundation (BIT) hosts their 4th annual conference for Black IT professionals, entrepreneurs, gamers, and afro-futurists. Hundreds will descend on Disney World October 26-28, 2022.

The in-person conference will feature global brands, world class speakers and business leaders. Sponsors include Google, Disney, Northwestern Mutual, Bridgewater Consulting, Ally Bank, Block, TIAA, CapTech Ventures, Red Ventures, Intuit, ADP, Spotify, and many more.
The 50 plus speaker lineup will be led by writer, activist, comedian, and techie, Baratunde Thurston­, author of the New York Times bestseller How To Be Black and host of television series Lenovo Late Night I.T. and PBS’s America Outdoors.

Read more here

Categories
Uncategorized

US Startup Surge Is Driven by Growth in Majority Black Areas

According to the Alliance for Entrepreneurial Equity, US entrepreneurial growth has been particularly strong since the pandemic. Particularly in areas where minority groups make up the majority of the population.

According to the AEE, from 2019 to 2021, majority of Black counties in America, saw a 103 percent increase in new business applications, compared to a 54 percent increase nationally. The organization is a collaboration between the center-left think tank Third Way and the civil-rights organization National Urban League.

According to the US Census Bureau, a record 5.4 million new businesses were formed in the United States last year as a result of a combination of economic necessity and increased support. According to the report, the disruption of how Americans live and work played a role in the entrepreneurship boom during the Covid-19 crisis.

Read more here

Categories
Uncategorized

Embarking as a Solopreneur? Here’s what you need to know

Solopreneurship promises a lifestyle for you to be your own boss and get the full benefits of your efforts. The first benefit is flexibility,  you will have more control over your working hours and can achieve a better work/life balance. 

The second and most incentivizing benefit is the earning potential. Solopreneurs have a significantly larger earning potential and can swiftly enhance their own income by bringing in new clients. The third one being, YOU CAN DO IT ANYWHERE! Solopreneurs can work and travel at the same time, unlike employees, who must request time off and are generally limited to only two or three weeks of vacation per year. 

Since the COVID-19 pandemic began and offices across the country were closed, this option has become even more appealing.

These, being a Solopreneur is easy and the internet has a lot of the tools that you need at its disposal.

Read more.

Categories
Uncategorized

How startups are dealing with the hardest fundraising climate in more than a decade

Cloud stocks were already down 40% from their 2021 highs when Cube CEO Christina Ross launched fundraising efforts for her financial planning software business in February. They have a lot more to drop in the coming months. When Cube launched its $30 million Series B round in mid-June, the broader market was about to have its worst first quarter in 50 years, led by a drop in high-growth tech equities, which had been the top outperformers in the Nasdaq Composite’s ascension to a record in November.

The private funding market tends to lag behind public stocks, providing venture investors time to modify their exit price expectations. However, the transition is now complete.

The IPO market’s suspension has effectively halted pre-IPO rounds, and the sharp decrease of software multiples has stymied private deal flows. Companies are doing everything they can to avoid the dreaded down round, which is funding that is worth less than the preceding round. Ross, who started Cube in 2018, anticipated that any valuation today would fall far short of the bubbly days of 2020 and 2021. However, she was also aware that many of those high-priced deals had produced an albatross for the receivers, who now face a financial burden and gloomy reality.

Read more here.

Categories
Uncategorized

Black professionals in tech industry being ‘left behind’ due to persistent racial inequalities

According to recent research from the non-profit Colorintech and Meta, large and persistent racial inequities continue, with expanding gaps between what organizations say and what they do to promote inclusion.

Nearly a quarter (30%) of those polled stated that they can’t – and don’t want to – be their true selves at work, and that they feel compelled to be inauthentic for fear of not progressing, and that a façade of conformity must override their personal values, views, and attributes in order to fit in with organizational ones.

Read more. ➝