Why We Invested in Aurora Solar
February 4, 2019
Energize Ventures is proud to lead a $20M Series A investment in Aurora Solar, the leading software platform for distributed solar. S28 Capital and existing investor Pear VC also participated in the round. Amy Francetic joins Aurora co-founders Christopher Hopper and Samuel Adeyemo alongside existing board member Shvet Jain on Aurora’s board.
Aurora’s digital solution is instrumental in making solar energy more affordable, reliable, and secure. As the price of solar PV modules, inverters and balance-of-system hardware dramatically declined, distributed solar “soft costs” remain stubbornly high in the U.S., accounting for 60–70% of installed cost[1]. Inefficient processes for customer acquisition, system design, proposal generation, permitting and financing all add cost — and hinder broader solar adoption. Aurora’s software platform significantly reduces soft costs, making solar a more economical choice for consumers and businesses.
Aurora Solar’s DNA is user-centric. In 2012, Chris and Sam launched an emerging market commercial solar development business. They immediately realized available tools were insufficient to quickly, remotely, and accurately design solar installations. Existing solutions could not accurately conduct shading analysis, identify roof shape and building obstructions, conduct financial analysis, or generate permit-ready engineering documents. Chris and Sam subsequently began building a tool to support their own solar development business. Soon after Aurora was born.
Over the past 5 years, Aurora assembled an incredible team of web development, graphics, and machine learning engineers to automate many of the complex processes of designing and deploying rooftop solar projects. Today, Aurora is used to design more than 60,000 solar projects monthly, and more than $30B in solar projects are processed by Aurora’s software in the U.S. alone.
Energize is thrilled to partner with Aurora to accelerate its journey to become the “operating system” for solar.
Aurora and Energize see a tremendous market opportunity for software to drive efficiency across every aspect of the project lifecycle as solar goes mainstream. Aurora is best-positioned to build it. With the Series A capital infusion, Aurora will expand product functionality and sales to further streamline solar provider processes and help make a future powered by solar energy a reality. In addition to capital, Energize is excited to bring our energy industry network and experience scaling industrial SaaS companies to help accelerate Aurora’s growth. We are thrilled to partner with Chris, Sam, and the broader Aurora team!
[1] Source: SEIA / Wood Mackenzie Power & Renewables U.S. Solar Market Insight
