SUNNYVALE, Calif. -- Booster Fuels, a startup that provides on-demand fuel delivery for vehicles, said it has raised $9 million in a Series A financing round as the company expands into the San Francisco Bay Area.
The increase in capital follows Booster's expansion in North Texas and into the San Francisco Bay area. Booster will use the funding to fuel expansion and augment the team with additional world-class talent.
Maveron led the investment round with participation from existing and new investors, including Madrona Venture Group, Version One Ventures and RRE Ventures.
The investment brings Booster's total funding to $12.5 million.
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Booster provides an on-demand fuel service at select corporate campuses while customers are at work. Customers park their car, indicate that they want "a Boost" through the mobile app or online and return at the end of their day to a full tank. Some corporate benefits managers offer Booster as a free perk to employees.
"Without the conventional costs of a gas station, Booster provides its fuel delivery service at prices that match or beat local area prices," the company said.
The company is already providing fuel at dozens of corporate campuses. It claims that at "many" locations more than half of the employees say they no longer fuel up at gas stations. At Chegg in Santa Clara, CA, more than 60% of company employees use Booster, it said.
Booster plans to expand its on-demand fueling service throughout the Bay Area and North Texas. The company also plans to grow its team in engineering and operations.
"Our vision has been simple--to give people time back in their day by providing a more cost- effective and energy-efficient way to get this critical chore done with just the tap of a button," said Frank Mycroft, CEO and co-founder of Booster.
"Frank and his team … are truly applying technology, from logistics to mobile apps, to solving an issue most consumers encounter several times a week," said David Wu, general partner at Maveron.
As part of the financing, Wu will be joining the Booster board.
Seattle-based Maveron is a consumer-only venture capital firm founded in 1998.
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