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EVmatch, Inc.
Location: 414 W Los Olivos St., Santa Barbara, California, United States United States
Founded in: 2016
Stage: Post-launch
Number of employees: 1-5
Funding history:
- Date: 01/2017, Accelerator/Incubator: $20 k
Investors: Elizabeth Kraus
Short URL: vator.co/evmatch-inc
Referred by: Tech.co
Followers (3)
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EVmatch, Inc.

Startup/business
Santa Barbara, California, United States United States
http://www.evmatch.com
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Company description

EVmatch is a peer-to-peer network for electric vehicle (EV) charging. The service allows EV drivers to easily find and reserve charging stations anywhere they go by enabling access to the underutilized private charging market. EVmatch reduces the stress in locating an available charger and can immediately grow the public charging network by over 20x its existing size with no added infrastructure. The EVmatch application includes reservations, payment processing, a review system, and a proprietary pricing algorithm that accurately estimates the cost of each charging transaction. EVmatch recently launched its service in Los Angeles and will expand across all of California within the year. Initially, the company is targeting single-family residential charging station owners as hosts, but with the integration of compatible charging hardware, the service will soon integrate charging stations at workplaces and multi-family dwellings. By using EV charging infrastructure more efficiently, EVmatch reduces range anxiety and will eliminate the number one barrier to consumer adoption of electric vehicles – lack of reliable charging.


Team
Business model

EVmatch’s current revenue stream is a 20% service fee charged to the EV driver for each charging transaction. The company will later leverage its network for additional revenue through solar installation referral fees and data sales. EVmatch projects 75% of revenue from service fees and 25% from these additional sources. EVmatch expects over $25 million in annual revenue within five years.

Competitive advantage

EVmatch’s competitors include public charging networks, such as ChargePoint, Blink, and EVgo. None of these charging networks provide reservations, an essential feature for eliminating range anxiety. Additionally, these networks are often too expensive for routine charging due to high equipment costs and parking fees. EVmatch is an innovative approach to public charging and the first of its kind. By utilizing the sharing economy, EVmatch can provide reservable charging access at a lower cost and more quickly build a national charging network.

Investors
Elizabeth Kraus
Elizabeth Kraus is the co-founder of MergeLane and the Impact Angel Group. Kraus started her career as an intern for a fast growing startup, Exclusive Resorts, and has been founding, consulting for and investing in startups ever since. She is an a...