History
Booster was founded in 2015 by Frank Mycroft, Diego Netto, and Tyler Raugh. The company's first product was an app-based on-demand fueling service for personal vehicles in corporate campus parking lots. In its first 18 months, the company reportedly delivered more than 3 million gallons of gasoline to its customers in the San Francisco Bay and Dallas-Fort Worth suburbs. Within its first few years of business, Booster began to offer its fueling services to enterprise fleets. Between early 2020 and early 2021, the company has claimed to double its fleet customer base and cited rising demand for last-mile delivery services during the COVID-19 pandemic as a contributor to its growth. In November 2021, Booster announced a partnership with Renewable Energy Group, a leading producer and supplier of biofuels. This is the company's first formal announcement of a renewable energy offering.Business
Booster's fuel delivery service enables drivers to complete more deliveries per shift by reducing the need to stop for fuels. Customers receive full tanks during their off-hours and save on vehicle wear and tear, all for a price competitive to local gas stations. The energy-agnostic service meets demand in real-time to deliver the smartest way to move vehicles, businesses, and communities forward. According to their website, they expect to expand their product offering to include gas, diesel, ethanol 10, Bio5, DEF, Red Eye, and in select markets, EV and hydrogen over the next two years. Booster is evolving from a single product mobile fueling provider, to a technology-enabled energy transformation platform. With various solutions for enterprise fleets, Booster is leading the energy transition. The company's proprietary mini-tankers deliver energy directly to fleet and consumer customers to help them save on costs and meet decarbonization goals. At the same time, Booster's data insights help fleet managers optimize their businesses. Booster has raised more than $108 million in funding from firms such as Invus Opportunities, Conversion Capital, Enterprise Holdings Ventures, Madrona Venture Group, Maveron, Perot Jain, L.P., Total Carbon Neutrality Ventures and Vulcan Capital.Funding
Booster Fuels received $3.1 million in a 2015 funding round from venture capital firms. By 2016 the company raised $9 million in a Series A funding round from Maveron, Madrona Venture Group, Version One Ventures and RRE Ventures. By August 2017, the company had raised $20 million in funding from a round led by Conversion Capital. In 2019, Booster completed its Series C funding, raising an additional $55 million.References
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