ChargeItSpot, a leading provider of secure phone charging stations for retailers, has raised a $2 million round with the help of SeedInvest.
ChargeItSpot provides secure phone charging stations for retail stores and public venues around the country including Urban Oufitters, Bloomingdale’s, and Under Armour. Customers receive a complimentary phone charge while retailers – who pay a monthly fee for the stations – enjoy a boost in foot traffic, dwell time, and sales.
Since launching out of the Wharton Business School Incubator 3 years ago, ChargeItSpot has performed over 1 million charges and can be found at over 120 retailers in 11 states. The ChargeItSpot app features a full list of locations (sortable by city or zip code) and can be set up to alert a consumer when their phone battery is low, pointing them to the nearest charging kiosk.
SeedInvest investors invested alongside Robin Hood Ventures and Soundboard Angel Fund. SeedInvest investor Tony Bosco said, “My experience investing in ChargeItSpot through SeedInvest was very satisfying. ChargeItSpot is a great story well-told, and I believe it will prove to be a successful investment.” ChargeItSpot selected SeedInvest because of its track record of funding companies quickly and finding high-value add investors.
“SeedInvest was a solid partner to help us close out our round,” said ChargeItSpot’s Founder and CEO Douglas Baldasare. “The capital will be used to expand our retail client base by adding units at Under Armour and Neiman Marcus, in the casino space, sporting arenas and at high-profile events like New York Fashion Week in July 2015.”
SeedInvest Investment Director Ameet Padte said, “While we at SeedInvest thoroughly vet every startup on our platform, ultimately the fundamental idea has to resonate with investors. We credit ChargeItSpot’s outstanding execution and strong CEO for electrifying our members and powering the fundraise to a successful close.”
This post was written by SeedInvest on September 6, 2016