Charleston Solar-Tech Business Raises $29M to Fuel Future GrowthBackers include Greycroft Partners, which was part of previous round of funding in 2018. Will Szczerbiak, a principal with the New York-based firm, said in a statement that Palmetto has “the best platform to bring renewable energy products and services to market. 'The potential for rooftop solar and the electrification of homes in the U.S. is huge and the competitive landscape is fairly fragmented with just a few dominant players,' said Robert Linck, chief investment officer at Shell Ventures.
Palmetto lands $29 million for residential solar sales software and home energy spendPalmetto, a Charleston, S.C.-based software company focused on home energy spend, landed $29 million in Series B funding from investors including Evergy Ventures, Arctern Ventures, Shell Ventures, Greycroft, Lerer Hippeau, Box Group, Falkon Ventures and the Leto Family Office. Greycroft led Palmetto’s Series A round in 2018. Palmetto is a software and fulfillment platform focused on helping consumers understand their energy finances. The startup pairs homeowners with solar power and energy storage providers and looks to improve the ease of financing and installation.
August 5, 2020
Palmetto Solar Raises $29 Million to Expand to Every U.S. StatePalmetto Solar LLC raised $29 million to expand to every U.S. state and help transition itself from a solar platform to an energy management and utility platform...As Palmetto transitions into operating under an energy management model, they plan to focus on establishing consumer trust early on and developing strong brand awareness.
This Won’t Be U.S. Solar’s Best Year Ever—But It’ll Be ClosePalmetto has seen strong growth during the pandemic, says CEO Chris Kemper. Its customer base surged 40% from January to April. One thing that’s helped: Palmetto shifted to a gig economy model well before the crisis, Kemper says. Early on the company’s “members,” as they’re known, primarily had sales experience within the solar industry. In March, Palmetto began marketing itself to new recruits.