Solar Energy Co. Runs Away with $150M in New Funding
May 19, 2014
Sunrun has received $150 million, the largest fundraise yet for a private residential solar company in the U.S. This is the third equity financing round over $50 million for the company; in May of 2012 the company scored a $60 million Series C financing that valued the company at over $781 million. In total, the company has attracted enough capital to support the purchase of more than $2 billion in solar systems, some $300 million of it in equity. The latest round was participated in by both new and existing investors.
Offering the services homeowners need to choose cleaner, cheaper energy and ameliorate their electric costs, the company installs, owns, insures, monitors and maintains solar panels on a customer’s roof. It is a very similar offering to that of SolarCity, a company that went public in late 2012 and currently has a market cap of over $5 billion.