San Jose, California [RenewableEnergyAccess.com] Fat Spaniel Technologies has closed $18 million in Series B financing. The investment round was led by Ignition Partners, with follow-on investment from Element Partners and Chrysalix Energy. Pacific Corporate Group and Applied Ventures, the venture capital arm of Applied Materials, Inc., also participated in the round.
Fat Spaniel will use this round of funding to expand sales and marketing efforts to European and other international markets. The company will also continue to broaden its product offering to support customer and partner needs across the full spectrum of renewable energy and energy efficiency technologies.“Fat Spaniel’s services are fundamental to the sustained growth of the renewable energy marketplace. Third party project financing is a key driver of the industry, and remote management services are essential in order to realize a higher return on investment combined with a lower level of risk,” said John Ludwig, founding partner of Ignition Partners. “I’m confident that Fat Spaniel has the team and the technology to continue along its impressive growth trajectory.”