Phone Charging Kiosk Provider ChargeItSpot Closes $5.26M in Series A Financing

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ChargeItSpot, the leading phone charging station provider for retailers, will use funds to support the company’s growth into other retail markets and venues, expand its sales and invest in new technology

ChargeItSpot
“The rapid adoption of our phone charging stations underscores the demand for innovation and the traffic and sales opportunities phone charging stations provide for retailers and public venues," said Douglas Baldasare, CEO and founder of ChargeItSpot.

ChargeItSpot, the leading provider of cell phone charging stations for retail chains, casinos, hospitals, shopping centers/malls, universities, stadiums and other indoor public venues, has closed its “Series A” financing raising $5.26 million.

The funding will be used to expand ChargeItSpot’s sales and client services teams and for investments in new technology to further improve its tech-enabled charging kiosks.

“In the past year, we’ve more than quadrupled our client base,” said Douglas Baldasare, CEO and founder of ChargeItSpot. “The rapid adoption of our phone charging stations underscores the demand for innovation and the traffic and sales opportunities phone charging stations provide for retailers and public venues. This new round of funding will help to support our company’s growth so we can continue to provide best-in-class technology and service to our retail clients.”

Among the dozen investors in the current funding round, which closed on November 20, 2015, are many of ChargeItSpot’s prior investors including Robin Hood Ventures, SeedInvest and SoundBoard Angel Fund, in addition to other retail and financial investors.

“ChargeItSpot has steadily grown into a key player in retail innovation, keeping shoppers charged and retailers engaged with their customers,” said Anthony Cambeiro, partner, Robin Hood Ventures. “We participated in ChargeItSpot’s earlier convertible note and continue to see enormous potential in Doug and his bold vision for making phone charging as ubiquitous as Wi-Fi.”

The company also recently announced a new line of charging kiosks that support its partners’ loyalty programs. The kiosks feature a built-in card scanner that enables complimentary phone charging as an exclusive benefit for loyalty card members, while allowing clients to collect and append opt-in data from loyalty members.

With installations in 18 states and two countries, ChargeItSpot stations are featured in retail and luxury retail stores, casinos, hospitals, shopping centers/malls, universities, stadiums and other indoor public venues. Its client roster includes Neiman Marcus, Nordstrom, Staples, Under Armour, Bloomingdale's, Westfield Malls, PREIT Malls and Bergdorf Goodman.

About ChargeItSpot
Based in Philadelphia, and founded by Wharton graduate Douglas Baldasare, ChargeItSpot creates elegantly designed, fully customizable mobile phone charging kiosks. Built for retail, the stations feature an intuitive, user-friendly touchscreen interface, highly secure locking capability, promotional opportunities, customizable on-screen messages, and robust data tracking and reporting. ChargeItSpot also offers a mobile app that alerts users when their cell phone battery is running low and points them to the nearest ChargeItSpot kiosk. Clients include Neiman Marcus, Nordstrom, Under Armour, Bloomingdale’s, Westfield Malls, PREIT and others. Visit the ChargeItSpot Press Room for more info or download the mobile app for kiosk locations.

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Bennie Sham/Richard Anderson
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