On Monday, SF-based greentech startup Aurora Solar announced that it raised $50 million in a Series B funding round. This round was led by Iconiq Capital and brings Aurora’s total funding raised to $70 million.
Solar power is one of the most popular forms of renewable energy, but there’s a lot to keep in mind before you hire someone to climb onto your roof and install solar panels. Solar installation projects have a high upfront cost, and panels work best in optimal conditions. So it’s important to do your due diligence ahead of time, as this can be the difference between saving money right away and not breaking even until years in the future.
Aurora Solar has created a platform that helps solar installers design and develop their solar projects. The platform provides a slew of analytical features to help installers make smart decisions, including things like shading analysis, energy production forecasting, utility bill savings calculation, sales proposal generation, financing options and more. These data-driven features help optimize solar development, so installers can save money and get the most out of their solar projects.
So far, over four million solar projects have been developed using Aurora’s software. The company says that many of its customers rely on Aurora software for their solar installation businesses.
This new funding will help the company continue its current hiring spree. Right now, Aurora Solar has several job openings across the board, for roles in customer success, sales, product and engineering. The new investment will also help fund several new product features that are currently in development.
“This fundraise is not only a big milestone for Aurora, but for the solar industry,” Aurora Solar cofounder Christopher Hopper said in a statement. “It will allow us to continue to build best-in-class tools for solar professionals in the U.S. and internationally, and help us achieve our mission of creating a future powered by clean solar energy.”
