OpenSolar Raises $15 Million in Series B Funding   

by Kay Aloha Villamor in January 16th, 2023

OpenSolar, a Sydney, Australia-based solar SaaS company that provides a solar panel design and sales platform, raised $15 million (A$22M) in Series B funding to expand its free product offering to solar contractors who use the platform in more than 130 countries.

Telstra Ventures led the round, with participation from 2150 and existing investors including Jeff Tannenbaum’s Titan Grove and solar entrepreneurs Alec Guettel and Howard Wenger.

The funding will support continued investment in the free-of-charge software platform, to ensure that OpenSolar’s end-to-end functionality acts as the backbone for contractors’ businesses, saving them many thousands of dollars every year and freeing them up to deliver more solar electrification to homes and businesses more efficiently.

In addition, to the opportunities to expand the capabilities of the platform, OpenSolar will further increase the number of partnerships it has around the world, earning fees in exchange for connecting solar contractors to the products and service providers they need to run and grow their businesses.  

OpenSolar Co-founder and CEO Andrew Birch (Birchy) said, “We started OpenSolar in Australia which is the most advanced solar market in the world, where you pay an extremely low price per watt and get your system installed within one to three weeks. With a leading position now in the Australian market, we’ve introduced much of that speed and efficiency to the rest of the world through our software.”

The company provides the world’s fastest and most accurate solar design tool, independently verified by the United States National Renewable Energy Laboratory (NREL) and PV Evolution Labs (PVEL). 

Company: OpenSolar, Inc.

Raised: $15.0M

Round: Series B

Funding Month: December 2022

Lead Investors: Telstra Ventures

Additional Investors: 2150, Jeff Tannenbaum, Alec Guettel, and Howard Wenger

Company Website: https://www.opensolar.com/

Software Category: Solar Software

About the Company: Founded by Andrew Birch and Adam Pryor, OpenSolar is a solar company that exists to accelerate the adoption of solar and renewable energy globally. The company provides the first free end-to-end solar design and sales application, providing solar professionals with a highly sophisticated yet easy-to-use software tool that services their end-to-end needs, from marketing and lead management to solar system design, sales, installation, and service. It also provides a paid, bespoke software service for solar manufacturers and solar finance companies. OpenSolar is based in Sydney, Australia, with remote offices in the U.S.


Source: https://www.opensolar.com/news/opensolar-raises-us%2415-million-to-expand-its-software-platform-and-global-footprint



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