SolarBridge Technologies Secures $25 Million in Series D Funding
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PDFAustin, TX (May 30, 2012)—SolarBridge Technologies (SolarBridge), a leading provider of microinverter solutions used in AC modules, announced it has secured $25 million in Series D funding. The company has raised more than $71 million to date.
The funding was led by a new investor, Shea Ventures. Investors from previous rounds, including Battery Ventures, Rho Ventures and Osage University Partners, also participated in the Series D.
“AC modules powered by SolarBridge microinverters are the clear choice for residential and light commercial solar,” said Ron Van Dell, president and CEO, SolarBridge. “The SolarBridge AC Module System is a highly bankable solution because it enables an integrated 25-year warranty on the module and dramatically reduces the cost of solar energy through unmatched reliability, better energy harvest and simpler installation. We look forward to further establishing our lead as the preferred microinverter provider to leading module manufacturers.”
The funding will be used to support the launch of new hardware and software products, increase sales and marketing efforts and expand the company’s operations globally.
“As the market for rooftop solar continues to grow, we are excited to partner with SolarBridge, which provides innovative and reliable microinverter technology and a highly differentiated business model,” said Jason Schoettler, managing director of Shea Ventures.
About SolarBridge Technologies
SolarBridge Technologies, a leader in integrated microinverter technologies for the solar industry, is accelerating the adoption of solar energy in residential and commercial applications. The SolarBridge AC Module System—featuring the SolarBridge Pantheon microinverter, Power Manager and Power Portal—dramatically increases the efficiency and reliability of PV systems, while reducing the levelized cost of energy. The Pantheon microinverter matches the lifetime of solar modules, enabling module manufacturers to provide a 25-year warranty on AC modules. The company is headquartered in Austin, Texas. For more information, visit www.solarbridgetech.com.
About Shea Ventures
Shea Ventures is an affiliate of Shea Homes, the nation’s largest private homebuilder. Since 1968, Shea Ventures has invested over $1 billion into innovative startup companies, including AES (AES), Brocade (BRCD), Compaq (acq. HPQ), Fabrinet (FN), and Salesforce.com (CRM). Its current portfolio includes such emerging sustainable energy firms as SolarCity and Cool Planet Energy Systems.