SunRun Secures US $12 Million in Financing

SunRun announced that it has raised US $12 million in a financing led by Foundation Capital. SunRun Solar Service reduces homeowners’ energy costs by offering rooftop solar electricity as a home service. Instead of making a large capital investment in solar panels, the homeowner is billed only for the solar electricity used.

“SunRun launched last year with a simple goal: to minimize homeowners’ power bills with hassle-free solar electricity,” said Nat Kreamer, President, Co-Founder and COO of SunRun. “The investment from Foundation will accelerate our ability to deliver SunRun Solar Service to our rapidly growing market, and we’re very excited to partner with them.”

Foundation Capital said that the investment was made because SunRun’s strategy dovetails their own. “With the cost of fossil fuel based energy skyrocketing, SunRun’s pioneering approach of delivering solar as a service is a huge positive step toward making residential solar affordable to every homeowner,” said Steve Vassallo of Foundation Capital. “We are deeply committed to building great companies with entrepreneurs whose goal is to rapidly deploy clean technologies that have the potential to change the world; SunRun is doing just that.”
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