SolarCity Raises $81M in Equity Financing
SolarCity, a San Mateo, CA-based provider of clean energy services, has raised $81m in equity financing.
The round was co-led by Silver Lake Kraftwerk and Valor Equity Partners, with participation from Nicholas J. Pritzker, partner at Tao Ventures, Shea Ventures, an affiliate of SolarCity partner Shea Homes, Chairman Elon Musk and existing investor DBL Investors.
The company intends to use the new funding for sales, marketing and operations, technology development and potential acquisitions.
Led by CEO Lyndon Rive, SolarCity provides homeowners, businesses and government organizations with solar power system design, financing, installation and monitoring services.
The company has more than 30,000 clean energy projects completed or underway and more than 1,500 full-time employees.