Solar Universe, a Livemore, Calif.-based provider of residential and small business solar installations, closed a $7.0m Series B funding.
The round was led by RockPort Capital Partners, with participation from returning founding investors.
The company intends to use the funds to to expand its business into new geographies and product offerings.
As stated by founder and CEO Joe Bono, with this new round of financing, the company looks forward to adding more top entrepreneurs and contractors to its growing network.
In conjunction with the funding, Abe Yokell, a Principal of RockPort will join the company’s board of directors.
Solar Universe has also added Kevin Daughtery as EVP, Operations, and Laurie Anthony Baggio as CDO.
Daugherty is responsible for overseeing all aspects of the company’s supply chain, quality control and logistics. Baggio assumes responsibility for overseeing continued network growth, market development, channel partnerships and sales support.
Founded in 2007, the company currently supports a network of two dozen solar franchises across California and in Nevada, Arizona, Pennsylvania, New Jersey and Louisiana.
FinSMEs
25/01/2011