ChargeItSpot Closes $2 Million Raise Crowdfunding on SeedInvest

Mobile phone charging station creator ChargeItSpot has successfully raised $2 million in a funding round on SeedInvest.  Investors participated alongside professional investors Robin Hood Ventures and Soundboard Angel Fund.

ChargeItSpot tackles an issue that most every smartphone user encounters. Dead or low batteries while away from a charger.  ChargeItSpot calls a dead cell phone “everyone’s worst nightmare”. “The battery drain and impending dead cell phone preoccupies our minds until we can find the almighty charge. A dead or dying cell phone is a modern day distraction universal to us all, hence the creation of ChargeItSpot charging stations for cell phones.”

The ChargeItSpot stations are now installed around the country in well known retailers like Urban Outfitters, Bloomingdale’s and more.  The tally of locations include space in 120 retailers in 11 different states.  ChargeItSpot has developed an App to help connect users to retailers and their installed stations.

Retailers are motivated to offer the charging stations as they experience an increase in foot traffic, time in store and, correspondingly – a boost in sales. ChargeItSpot is a paid a monthly fee for its station while individuals in a need of a charge, use it for free.  The stations also integrate CRM features allowing retailers the option to capture mobile numbers, email addresses and market directly to potential customers (who visit their store). Data provided by ChargeItSpot indicates a 54% increase in customer conversion rate.

ChargeItSpot was launched at the Wharton Business School Incubator in 2012 by founder and CEO Douglas Baldasare.  The new capital will be used for market expansion.

“The capital will be used to expand our retail client base by adding units at Under Armour and Neiman Marcus, in the casino space, sporting arenas and at high-profile events like New York Fashion Week in July 2015,” explained Baldasare.