Complete Solar Gets $5 Million to Expand OperationsJustin Doom
Complete Solar Solution Inc., the four-year-old closely held provider of residential systems, raised $5 million to expand in California and into the U.S. Northeast.
Ecosystem Integrity Fund led the round, which included a contribution from Floodgate Capital, an investor in the seed round, Complete Solar Chief Executive Officer Will Anderson said in a phone interview today. The company has raised a total of $6.6 million and doesn’t expect to require additional equity funding as it targets annual revenue of $100 million by the end of 2015.
The company, based in Foster City, California, offers bespoke solar systems to homeowners and then coordinates with manufacturers to deliver and install panels in as little as three weeks.
“We’re not simply trying to sell what we have in our warehouse that day,” Anderson said. “It’s how they use their electricity and when, it’s the specific characteristics of their home and the footprint of their roof, and the financing options available to them.”