In the News

Solar Universe Inks $7M Series B Financing

Date: 01/25/2011

Company: Solar Universe

Source: PEHub

California-based Solar Universe, which provides residential and small business solar installations, has raised $7 million in a Series B financing round led by RockPort Capital Partners. The company will use the new financing to bolster its product offerings and expand into new markets.

Solar Universe, the nation’s leading provider of residential and small business solar installations, today announced its $7.0 million in Series B funding, led by RockPort Capital Partners with returning founding investors. The company also announced that it has added Kevin Daughtery as EVP, Operations, and Laurie Anthony Baggio as Chief Development Officer. Proceeds from the financing will be used to expand Solar Universe’s successful business into new geographies and product offerings.

“Solar Universe has proven its business model and has developed an impressive delivery platform without large amounts of capital, and we’re excited to be supporting a group of entrepreneurs who have already built a significant business,” said Abe Yokell, a Principal of RockPort Capital, who led the investment round and is joining the board. “With solar now a viable option for most homes and businesses, Solar Universe’s approach for training and supporting locally owned and operated solar installers will help launch new solar businesses and ensure a high quality customer experience anywhere in North America. We believe its suite of solutions enables local entrepreneurs to perform at the highest levels, and will create explosive growth while creating thousands of green collar jobs.”

Read full story at PEHub

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