Aurora Solar Closes $200 Million Series D

<p><span class&equals;"xn-location"><strong>SAN FRANCISCO<&sol;strong> <&sol;span>&&num;8212&semi; <span class&equals;"xn-person">Aurora Solar<&sol;span>&comma; a software platform for solar sales and design&comma; has closed a <span class&equals;"xn-money">&dollar;200 million<&sol;span> Series D funding round co-led by current investors Coatue and Energize Ventures with participation from Fifth Wall&comma; ICONIQ and new investors&comma; Lux Capital and Emerson Collective&period; With this funding&comma; <span class&equals;"xn-person">Aurora Solar<&sol;span> plans to accelerate its mission to create a future of clean energy by equipping solar professionals with a powerful and accessible software platform for every step of the solar adoption process&period;<&sol;p>&NewLine;<p>&&num;8220&semi;As a trusted partner to the fastest growing solar companies&comma; we have a unique vantage point from which to deliver customer-centric innovation&comma;&&num;8221&semi; said <span class&equals;"xn-person">Christopher Hopper<&sol;span>&comma; Co-founder and CEO of <span class&equals;"xn-person">Aurora Solar<&sol;span>&period; &&num;8220&semi;We are thrilled about our next chapter and accelerating innovations that enable every member of the solar organization to benefit from data and AI&comma; and ultimately deliver on the promise of solar&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The solar industry is at a strategic inflection point&period; According to the <u>Solar Energy Industry Association<&sol;u> &lpar;SEIA&rpar;&comma; solar has experienced an average annual growth rate of 42&percnt; in installed solar capacity over the past decade and is expected to continue setting a series of record years until 2024&period; This strong industry-level momentum&comma; along with the dramatic shift to a digital-first business environment&comma; further accelerated by the pandemic&comma; has highlighted the need for the solar companies to double down on digital transformation&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Software is increasingly becoming a mission-critical part of every solar organization&&num;8217&semi;s technology and operating strategy&comma;&&num;8221&semi; said <span class&equals;"xn-person">Samuel Adeyemo<&sol;span>&comma; Co-founder and CRO of <span class&equals;"xn-person">Aurora Solar<&sol;span>&period; &&num;8220&semi;Aurora&&num;8217&semi;s focus is to help our customers tackle some of the industry&&num;8217&semi;s biggest challenges head on&colon; accelerating sales cycles&comma; scaling up design operations&comma; and transitioning costly and ineffective manual processes to automated and integrated workflows&period;&&num;8221&semi;<&sol;p>&NewLine;<p>With more than 7&period;5 million solar projects designed in its software platform&comma; Aurora is the de facto standard for solar sales&comma; design and operations&period; Top solar companies in the US&comma; including Freedom Forever&comma; Infinity Energy&comma; Sunpower and POWERHOME Solar depend on Aurora to power their sales&comma; design and operations teams&comma; and deliver meaningful business outcomes&period; Building on this momentum&comma; this funding will help Aurora accelerate its product development&comma; expand outreach&comma; and build lasting&comma; trusted relationships with their customers while also increasing Aurora&&num;8217&semi;s collaboration with the broader solar community&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Solar is a <span class&equals;"xn-money">&dollar;100 billion<&sol;span> industry and the fastest growing power generation source in the world&period; At Energize&comma; we believe the key to accelerating solar adoption at scale is through software and automation&comma;&&num;8221&semi; said <span class&equals;"xn-person">John Tough<&sol;span>&comma; managing partner at Energize Ventures&comma; which is Aurora&&num;8217&semi;s largest investor&period; &&num;8220&semi;Aurora is building the operating system that will support this growth&comma; and we&&num;8217&semi;re thrilled to make our fourth consecutive investment in the company as they continue to expand their platform and build upon their world-class team&period;&&num;8221&semi;<&sol;p>&NewLine;