We are excited to share our latest investment out of the Automotive Ventures DealerFund: Treehouse, a startup that delivers turnkey installations for home EV charging. We are honored to join a round of high-impact co-investors, including Trucks VC, CarMax, Assurant, Holman and Montage Ventures.
Treehouse provides a home charging solution that allows EV owners to get an estimate in under two minutes and bundle home charging installation with the purchase of the best charger for each individual's budget and needs.
Automotive Ventures has a robust process by which we evaluate each startup for investment. The most important criteria considered include the team, the size of the addressable market, and the uniqueness of the offering. Along these three dimensions (and others), Treehouse stands out as well-positioned to win the residential EV charging market.
Team:
We are very impressed by how customer-obsessed and analytically the Treehouse team is attacking the challenges around EV charger installation in the home. These and other traits were in part honed during their time at LinkedIn, where most of the team had overlapping tenures.
Treehouse’s CEO Eric and his co-founders are both very talented and deeply humble individuals, listening closely to the needs of their customers and partners. We’re honored to partner with the entire Treehouse team and look forward to doing all we can to help them achieve their ambitious vision for the company.
Total Addressable Market:
There are significant tailwinds in the vehicle electrification space. The Edison Electric Institute projects that 26.4 million electric vehicles will be on U.S. roads in 2030, meaning that EVs will make up nearly 10% of the 259 million cars and light trucks on the road in less than 8 years (Link).
We believe that Treehouse’s installation-as-a-service model has the potential to grow beyond EV charger installation, helping the company’s customers electrify other devices in their home. This will position Treehouse to tap into the broader home electrification market, which is expected to surpass $113B in size by 2030.
Unique Differentiator:
Treehouse is the only installer to provide a guaranteed upfront price that they stand behind. Instant pricing allows home charging to be integrated directly into the vehicle loan, reducing barriers to affordability for home charging.
Treehouse also automates permit documentation and has a proprietary network of electricians, enabling the company to deliver an elevated experience by managing the customer journey from end to end.
We believe that the power of transparent charger installation pricing is going to change how consumers shop for and buy EVs. Treehouse is removing a barrier to EV ownership and will make it easier for millions of consumers across the country to switch to EVs.
Read the full press release on Treehouse’s fundraise can be viewed HERE.
