Paren Secures $3M Seed Funding, Acquires Loren McDonald’s EVAdoption

San Francisco, CA – October 3, 2024

At Paren, we’re on a mission to bring it all together—to unify the fragmented world of EV charging data and accelerate the adoption of electric vehicles. Today, we’re thrilled to announce a significant milestone in our journey: a $3 million seed funding round led by Base10 Partners, with participation from Founders Network Fund, Luc Vincent (founder of Google Street View and Lyft Level 5), and an impressive roster of angel investors who share our vision for a seamless, electric future.

Securing Our Seed Round

Our road to this funding round is a testament to the power of collaboration and shared vision. Earlier this year, we joined forces with Bill Ferro’s EVSession LLC, a move that positioned us uniquely in the market. This union brought together an experienced founding team, a product that immediately resonated with enterprise clients, and a revenue stream generated purely through word-of-mouth.

When we met with Base10 Partners in San Francisco, the synergy was immediate. Our shared vision of the electric vehicle market dynamics aligned perfectly, setting the stage for a swift and successful close to our funding round.

Next Steps: Scaling Our Impact

This seed funding is a powerful catalyst for our mission to transform the EV charging landscape. It enables us to significantly expand our capabilities and impact.

Here’s how we’re channeling this investment:

Expanding Our Data Horizons: We’re broadening our datasets to provide even more comprehensive insights into the EV charging ecosystem.

Scaling Our Platform: To meet the growing demand from our enterprise partners, we’re supercharging our infrastructure to deliver unparalleled performance and reliability.

Enhancing Our API: We’re expanding our API access beyond reliability metrics, incorporating crucial data on amenities, pricing, and safety – all seamlessly available to drivers navigating the national EV infrastructure.

Strategic Acquisition: We’re proud to announce the acquisition of EVAdoption LLC, an EV infrastructure data and analysis firm. Loren McDonald, EVAdoption’s founder and a trusted industry expert, joins our executive team as Chief Evangelist, further strengthening our position as the go-to source for EV charging insights.

About Paren

Paren Inc. is the leading neutral data platform accelerating electric vehicle adoption by addressing core challenges in EV charging infrastructure. Founded in 2023 and headquartered in San Francisco, Paren aggregates, enriches, and delivers comprehensive data on reliability, availability, pricing, amenities, and safety across charging networks. Through its robust API and online application, Paren empowers users with actionable insights, fostering informed decision-making and strategic planning in the rapidly evolving EV landscape. By transforming fragmented information into a unified, reliable resource, Paren is driving the transition to a sustainable, electric future. For more information, visit www.paren.app.