EnergySage, a Boston, MA-based online solar energy marketplace, raised $1.5m in Series A funding.
The round was led by Launchpad Venture Group with participation from The New York Angels and the Clean Energy Venture Group. Combined with previous seed-round funding from angel investors, an award from the New York State Energy Research and Development Authority (NYSERDA) as well as two Department of Energy (DOE) SunShot Initiative Awards, this Series-A financing brings EnergySage’s total funding to more than $4m. In conjunction with the funding, Gail Greenwald of Launchpad Venture Group joined EnergySage’s board of directors.
The company intends to use the funds to increase its sales and marketing efforts and expand partnerships with businesses, municipalities, non-profits, utilities and a variety of other organizations to accelerate the national expansion of its marketplace.
Led by Vikram Aggarwal, CEO, EnergySage operates a solar comparison-shopping platform that provides information about solar energy systems consumers or business owners need to make an informed decision about solar installations. It enables users to research and compare solar energy systems, explore financing options and obtain multiple price quotes from more than 250 pre-screened solar installers. The marketplace also provides solar installers access to a large pool of prospective clients, giving them the ability to reduce customer acquisition costs and grow their businesses.
It currently operates in 30 states nationwide and expects to expand its presence to all 50 states by year end 2015.