Plug is building core infrastructure for the rapidly growing secondary EV market by providing a dedicated marketplace that connects consumers, dealers, and commercial consignors. Its platform offers wholesale valuations derived from proprietary data, real-time market and pricing signals, battery-health intelligence, and VIN-level vehicle information, enabling most listings to receive market-rate offers within 24 hours. Since its 2024 launch, Plug has facilitated more than $60 million in used EV sales, with Q4 2025 volume alone surpassing its entire 2024 performance. Over 600 dealers and commercial sellers are active on the marketplace, attracted by faster, more accurate, and lower-risk transacting. The company plans to use new capital to expand supply pipelines, build additional technology for evaluating EV condition and capability, and scale its go-to-market efforts across wholesale and retail channels. Leadership additions in finance and marketing, along with new board appointments, are intended to support this next growth phase. Plug is headquartered in Santa Monica, California.

Total raised

$27M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2026