Booster, the app-based mobile gas station, has raised $20 million in a Series B round that will be used to drive growth and enhance the core experience of gas delivered to individual cars. Booster delivers and pumps gas in office parking lots, using custom-built purple mini-tankers that easily navigate tight spaces.
Customers request a “boost” when they get to work, use the app to pin their car location, and get a full tank before they leave the office. Because Booster exclusively operates in lots where density is high, it provides customers free delivery and competitive pricing while covering operating costs.
NYC-based Conversion Capital led the round, with additional previous investors Maveron, Madrona Venture Group, Version One, Perot Jain LP, and RRE Ventures also participating. New investors include the Stanford-StartX Fund, BADR investments, and U.S. Venture, Inc. With this new funding round, Booster has raised a total of $32 million.
Fuel consumption reached record highs in 2016. While autonomous and electric vehicles are certainly the future, last year more than 99% of all new autos sold in the US ran on conventional fuels, a trend we don't see subsiding in the foreseeable future. We are proud to support Booster in its mission to provide a more consumer-friendly, safer, and sustainable refueling experience.—Christian Lawless, Managing Partner of Conversion Capital and new Booster board member
Since it launched service less than two years ago, the company has delivered more than five million gallons of gas. Booster has become a highly sought-after perk at more than 300 large employers including Cisco, Oracle, Gilead, eBay, PepsiCo, Facebook, as well as most of the Fortune 100 companies based in Booster’s two current service regions: the Dallas-Fort Worth and San Francisco Bay areas.
The challenge is much more than developing an on-demand app; our full-stack implementation is built upon our proprietary transport equipment, supply procurement, routing algorithms, and mobile experiences.—Frank Mycroft, CEO, Booster Fuels
In addition to being offered by major companies, leading commercial real estate owners recognize that Booster is an attractive benefit for large office parks to offer tenants.
Each “boost” eliminates a trip to the filling station, relieving road congestion, and removing fuel transfer points from the supply chain. By using Booster, customers have eliminated over 630,000 miles of travel to date, equivalent to offsetting 234 tons of carbon, according to the company.