SunRun Raises $55M in Series C Financing
SunRun, a San Francisco-based leaser of solar PV panels for residential customers, has secured $55 million as part of a Series C funding led by Sequoia Capital.
Returning investors include Accel Partners and Foundation Capital. This is double the amount raised in its Series B.
Last week SunRun and Pacific Gas and Electric (PG&E) announced a $100 million initiative to deploy more than 3,500 residential solar installations over the next two years in California and across the U.S. West.
On its latest VC raise, SunRun CEO Edward Fenster said:
Many homeowners are looking for a better alternative to their utility. SunRun gives them a real choice – clean solar energy that doesn’t cost a lot, and gives them control over what they’ll be paying in the future. Plus, they don’t need to take care of any solar equipment because it’s all serviced for them. It’s an attractive proposition for a lot of homeowners.
Photo: iStockphoto
