Booster Valuation, Funding & Investors

Booster is valued at $125M as of August 2017.

Last Booster valuation

$125M

Series B · Aug 2017

Last Booster funding round

$125M

Series D · May 2022

Cumulative funding Booster raised

$213M

across 5 funding rounds

Key investors in Booster

  • Madrona
  • Conversion Capital
  • RRE Ventures
  • Maveron
  • Perot Jain
  • Version One Ventures

Booster Overview

About Booster

Booster is a San Mateo-headquartered fueling service founded in 2015. It provides on-demand battery swaps and charging for electric fleets, serving 120,000 vehicles across 300 businesses. Customers avoid 8 million miles driven and 4 million pounds of CO2 emissions annually through mobile stations.


Founded

2014

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$125M (Aug 2017)

Booster Valuation

Booster is currently valued at $125M, based on its Series B in August 2017.

The $20M round was led by Conversion Capital, with participation from Maveron, RRE Ventures, Version One Ventures, StartX (Stanford-StartX Fund), BADR investments and 2 other investors.

Booster valuation by funding round

Booster valuation by funding round
DateStageValuation
Aug 2017Series B$125M

Booster Funding History

Booster has raised a total of $213M across 5 funding rounds.

Booster's first fundraising round was a $3M seed round in May 2015. The most recent completed round was a $125M Series D in May 2022.

Booster funding rounds

Booster funding rounds
DateStageInvestorsRaisedValuationDeal Summary
May 2022Series DRose Park Advisors (lead)$125M-Booster Fuels raised $125 million in a Series D funding round on May 25, 2022, led by Rose Park Advisors with participation from Chaac Ventures, Equinor Ventures, Mitsubishi, and Thayer Ventures. Booster Fuels operates in the on-demand fueling sector, delivering fuel directly to vehicles at customer locations to save time for fleets and businesses. The round reflects continued investor interest in Booster's model amid growth in logistics and fleet management. Rose Park Advisors, a Boston-based firm founded in 2006 by Clayton Christensen, focuses on disruptive innovation and has backed companies like Coupang and DocuSign. This investment aligns with their strategy in late-stage ventures, including Series D rounds. Broader market context includes rising demand for efficient fleet operations.
Jun 2019Series CInvus (lead); Maveron; Conversion Capital; Vulcan Capital; TotalEnergies Ventures; Madrona; Perot Jain$56M--
Aug 2017Series BConversion Capital (lead); Maveron; RRE Ventures; Version One Ventures; StartX (Stanford-StartX Fund); BADR investments; Madrona; Perot Jain$20M$125MBooster Fuels, an app-based mobile gas delivery service, raised $20 million in an oversubscribed Series B funding round on August 1, 2017, led by Conversion Capital, with participation from existing investors Maveron, Madrona Venture Group, Version One Ventures, Perot Jain LP, and RRE Ventures, as well as new investors Stanford-StartX Fund, BADR Investments, and U.S. Venture, Inc. This brought the company's total funding to over $32 million. The capital was intended to drive growth and enhance the core experience of delivering gas directly to customers' vehicles in office parking lots using custom-built purple mini-tankers. Booster operates by allowing customers to request a fill-up via app upon arriving at work, with the service providing free delivery and competitive pricing in high-density lots. By the time of the Series B, less than two years after launch, Booster had delivered more than five million gallons of gas and secured partnerships with over 300 large employers, including Cisco, Oracle, Gilead, eBay, PepsiCo, Facebook, and ten Fortune 100 companies in its Dallas-Fort Worth and San Francisco Bay Area markets. Booster continued raising capital in subsequent years, reaching over $231 million across multiple rounds, with later investments including a $125 million Series D in 2022.
Jan 2016Series AMaveron (lead); Expansion Venture Capital; RRE Ventures; Conversion Capital; Version One Ventures; Madrona$9M--
May 2015SeedMadrona (lead); RRE Ventures; Four Cities Capital; Conversion Capital; Perot Jain$3M-Booster Fuels, founded by Frank Mycroft, Diego Netto, and Tyler Raugh, delivers competitively priced gas to cars at workplaces and established the mobile fueling category in 2015. Madrona Venture Group made its initial investment in Booster in 2015. A Series Seed round occurred on May 15, 2015, with 3,900,083 shares outstanding and a price per share of $0.82.

Who has invested in Booster?

14 investors have backed Booster across its funding rounds, including Madrona, Conversion Capital, RRE Ventures, Maveron, Perot Jain and Version One Ventures.

Lead investors include Rose Park Advisors, Invus, Conversion Capital, Maveron and Madrona.


Booster Investors

Investors in Booster by funding rounds participated
InvestorHQRoundsRoleFirst check
Conversion CapitalUnited StatesNew York City, NY4LeadMay 2015
MadronaUnited StatesSeattle, WA4LeadMay 2015
MaveronUnited StatesSan Francisco, CA3LeadJan 2016
RRE VenturesUnited StatesNew York City, NY3ParticipantMay 2015
Perot JainUnited StatesDallas, TX3ParticipantMay 2015
Version One VenturesCanadaVancouver2ParticipantJan 2016
Expansion Venture CapitalUnited StatesNew York City, NY1ParticipantJan 2016
Rose Park AdvisorsUnited StatesBoston, MA1LeadMay 2022
InvusUnited StatesNew York City, NY1LeadJun 2019
Four Cities CapitalUnited StatesBoston, MA1ParticipantMay 2015
Vulcan CapitalUnited StatesSeattle, WA1ParticipantJun 2019
TotalEnergies VenturesFranceParis1ParticipantJun 2019

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Booster Competitors

Booster competitors include listed companies like Blink Charging, EVgo and ChargePoint, and private ones like REE Uno, SUN Energy and Leilac.

Public and private companies comparable to Booster
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
REE UnoChileSantiagoPrivate--$146M-
Blink ChargingUnited StatesUnited StatesPublicly listed$103M($73M)$79M0.5x
SUN EnergyIndonesiaIndonesiaPrivate--$200M-
EVgoUnited StatesUnited StatesPublicly listed$384M($18M)$209M2.1x
LeilacUnited KingdomSalisburyPrivate--$247M-
ChargePointUnited StatesUnited StatesPublicly listed$411M($170M)$266M1.0x

Booster Public Comps

Booster is still privately-owned, but its public comps include WLM, McDermott, Altea Green Power, PRL Global, Onde, Hadron Energy, Helios Solar, Nine Energy Service, Saean Group and MIC Electronics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
WLM$586M$38M0.3x-5.2x-
McDermott$10B$208M0.1x-2.9x-
Altea Green Power$25M$15M6.1x5.8x10.4x10.4x
PRL Global$1.6B$45M0.1x-4.3x-
Onde$228M$13M0.6x0.6x11.3x12.4x
Hadron Energy-($72M)--(1.3x)-
Helios Solar$507K-259.8x---
Nine Energy Service$562M$53M0.4x0.5x4.8x7.3x

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Common questions about Booster

When was Booster founded?Booster was founded in 2014.
Where is Booster headquartered?Booster is headquartered in Seattle, WA, United States.
Is Booster publicly listed?No, Booster is a private, VC-backed company.
What is Booster's valuation?Booster was last valued at $125M in its Series B in August 2017.
How much funding has Booster raised?Booster has raised $213M across 5 funding rounds.
What was Booster's last funding round?Booster's last funding round was a $125M Series D in May 2022, led by Rose Park Advisors.
Who are Booster's investors?Booster's investors include Conversion Capital, Madrona, Maveron, RRE Ventures, Perot Jain, Version One Ventures, Expansion Venture Capital, Rose Park Advisors, Invus, Four Cities Capital and 4 others.
Which companies are comparable to Booster?Companies comparable to Booster include REE Uno, Blink Charging, SUN Energy, EVgo, Leilac and ChargePoint.

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