Enphase Energy Inc., a Petaluma, CA-based provider of solar microinverter systems for residential and commercial markets, held a $23m second close and completed its latest financing round totaling $63m.
Investors in the round’s second close include Kleiner Perkins Caufield & Byers (KPCB) and other strategic partners.
The funds will enable the company to accelerate product development, launch global expansion plans and strengthen its balance sheet.
The $40m first close of the financing round included existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners, PCG Asset Management and Applied Ventures LLC, as well as new investor Bay Partners.
In conjunction with the funding, Ben Kortlang, partner at KPCB, will join Enphase Energy’s board of directors.