Funding Investment News

Booster Fuels raises $9M to move beyond Texas

At the end of last year, we told you a little bit about Booster Fuels – a company that provides mobile vehicle fueling while you are parked for an extended amount of time. Way back then, Booster Fuels was only operating throughout Texas. On 28 January 2016, however, the company made a major announcement. According to TechCruch, “it [Booster Fuels] has now raised a $9 million Series A funding round from the likes of Maveron, Madrona Venture Group, Version One Ventures and RRE Ventures. The plan is to use this money to fund Booster’s expansion in both North Texas and Silicon Valley.”1

Fuel Booster Fuels raises $9M to move beyond Texas

What’s more, according to GreenCarReports, Booster Fuels will also be moving its headquarters to Silicon Valley with the new funding.2 Right now, Booster Fuels has positioned itself as a sort of value add for larger corporations. Frank Mycroft, the company’s CEO, explained this point to TechCrunch, but added that there is potential to move beyond big corporate parks:

Campuses where employees have to commute by car are often at a disadvantage in recruiting and retaining employees relative to those with more alternative transportation methods…We help turn parking lots into valuable assets used to improve employee quality of life. That’s a big win for many employers who care about employee productivity and retention.3