Our Investment in Kopperfield
Hassle-free home EV charger installation
While the U.S. recently approved plans for EV charging stations in all 50 states, one of the advantages of EV ownership is the ability to charge your vehicle at a variety of locations, including your home. At-home EV charger installation provides more flexibility for drivers and their day-to-day lifestyle. As home electrification gains momentum following the passage of the Inflation Reduction Act, the number of EV chargers installed will certainly increase. Edison Electric Institute (EEI) projects the need for an additional 9.6 million EV charging stations by 2030, most of which are expected to be home charging stations. This will put further strain on electricians and companies who provide EV services, especially given the lack of purpose built software. To accelerate EV adoption and reach clean energy goals, the process for installing home EV chargers must be streamlined and simplified for the consumer and electrician.
Enter Kopperfield. The company’s co-founders, Jesse Vaughan and Mark Wong, are on a mission to modernize the home electrification process. They’re starting with EV chargers with plans to expand to heat pumps and other major home electric appliances. Their approach saves customers and contractors valuable time while supporting and accelerating the clean energy transition.
We’re proud to back Jesse and Mark as they work to make the purchase and installation of home EV chargers simple.
What is Kopperfield?
Kopperfield is accelerating home electrification with a commerce platform that makes buying major home electric appliances as simple as making an online purchase. Kopperfield’s platform eliminates friction on both sides of the transaction. Consumers simply describe the job they need assistance with, receive an estimate, book a time for the installation, and pay for it. Electricians simply select from available jobs, and Kopperfield handles the scheduling, communicating and coordinating with the customer, and billing. Electricians using the platform cut out hours of non-billable busywork, allowing them to serve more customers. Homeowners, too, save hours of time researching contractors, gathering quotes, and managing back-and-forth communications that are required for electrification projects. Furthermore, the Kopperfield platform helps shift consumers’ mentality from one of a home remodel to an easy “push of a button” solution for home upgrades that are good for the planet.
Initially, the company is starting with EV chargers, but it envisions expanding to other electrification projects, including heat pumps, induction stoves, and more.
Why Did We Invest?
Compelling Founder-Market Fit
Kopperfield’s founding team has an extensive background in product management and startup environments. Mark Wong previously worked at Stripe as Head of Product for the Connect platform, where he helped build a series of tools that streamlined and automated various business processes related to payments. Before Stripe, Mark oversaw products at Facebook’s Meta and worked as a program manager at Microsoft. He holds a bachelor’s degree in engineering from the University of Toronto. Jesse Vaughan previously co-founded Landed, which helps essential professionals build financial security near the communities they serve. Jesse holds a B.A. in economics from New York University. While Kopperfield is currently an agile team of 5, the company is actively hiring for a variety of roles after announcing a $5 million seed round.
Part of The Electrification of Everything
With major U.S. legislation propelling a growing trend to replace fossil fuel-powered assets, we believe the home will be a key focal point for accelerating electrification. Complemented by greater numbers of homeowners seeking to electrify their home — for reasons that are driven as much by energy savings as by a desire to decarbonize — this movement will serve as a tailwind to Kopperfield’s mission.
With Mark and Jesse’s collective background building seamless software solutions, we feel strongly they are well positioned to make Kopperfield the go-to brand for anyone seeking to install EV chargers and other electric assets in their home.
Additional Resources
If you are an accredited investor and want to learn more about being an investor in our fund (to back more great companies like this one!), reach out here, and include desired quarterly commitment level, accredited investor status, and info on your background and how you could be helpful to the portfolio.