Boston, MA – October 11, 2016
EnergySage, the country's leading online marketplace for solar, announced today that it has secured $1.4 million in new funding that extends the $1.5 million Series A financing round of May 2015.
Investors’ Circle’s Patient Capital Collaborative (PCC), an impact fund that invests in high-growth companies that are facilitating the transition to a more sustainable economy, has joined the round, along with existing investors including Launchpad Venture Group, Clean Energy Venture Group (CEVG), and the Massachusetts Clean Energy Center (MassCEC). This funding brings the total private investment raised to $3.3 million, and adds to the $2.14 million in grants received from the U.S. Department of Energy’s SunShot Initiative and New York State Energy Research and Development Authority. The company will use the funds to expand the capabilities of its online platform and develop new offerings for consumers including community solar, energy storage, and related home energy products and services.
“We are pleased to be co-investing in EnergySage with Investors’ Circle member MassCEC and other investors such as Launchpad and CEVG,” says Justin Desrosiers, Investors’ Circle’s Director of Investments and PCC Principal. “The EnergySage team has built a robust but simple to use platform that will hopefully help hundreds of thousands of consumers go solar more efficiently and cost effectively. With a strong environmental impact, EnergySage is a great addition to our portfolio and will certainly help transition us to a more sustainable economy.”
“EnergySage has been growing rapidly since launching our online marketplace in 2013,” said Vikram Aggarwal, CEO and founder of EnergySage. “In 2016, we’re expecting to help more than one million consumers in over 30 states research and explore solar, making our site one of the most trafficked in the solar industry. Additionally, we’re expecting to send over $700 million worth of solar installation requests to our growing network of over 350 solar installation companies. The support of our investors has helped us think much bigger. We’re excited for what’s ahead and grateful for their ongoing faith in our mission."
About Investors’ Circle and the Patient Capital Collaborative
Investors’ Circle (IC) is the largest and most active impact investing network. Its network of angel investors, venture capitalists, foundations, and family offices has invested over $200 million into more than 300 enterprises dedicated to improving the environment, education, health, and community. IC’s Patient Capital Collaborative (PCC) fund invests in companies that apply to IC for funding and focus on high-growth companies that are improving quality of live, alleviating poverty, and transitioning us to a more sustainable economy. For more information, visit investorscircle.net.
About EnergySage, Inc.
EnergySage provides the first comprehensive online marketplace for consumers and businesses interested in converting to solar energy. By enabling people to comparison shop for “apples-to-apples” competitive quotes from pre-screened installers and financiers, the EnergySage Marketplace typically delivers cost-savings of up to 20 percent when compared to going directly to installers. EnergySage also simplifies today’s complex solar industry by providing tools and unbiased information that enable people to fully understand their product and financing options as well as their return-on-investment scenarios. Many leading organizations have forged partnerships with EnergySage to promote the adoption of solar energy, including Connecticut Green Bank, Staples, Walgreens and the World Wildlife Fund. For more information, please visit: www.energysage.com.