Evelar Solar, a Salt Lake City, UT-based provider of a technology platform focused on the solar industry, completed a $5m Series A and Mezzanine round of financing.
The financing was provided by Black Oak Capital Partners. In conjunction with the deal, Todd Heiner, one of Black Oak’s limited partners, joined the Evelar Board as the Chairman.
The company intends to use the funds to further develop its technology platform, provide working capital to accelerate growth of both residential and commercial business lines, as well as support geographic expansion into New York City, Boston, South Carolina and New Jersey.
Led by Spencer Angerbauer, CEO, Evelar Solar provides a SaaS-based proprietary technology platform that instantly calculates a homeowner’s energy usage requirements and qualifies them as a viable solar candidate, and centralizes the marketing, sales, customer service and data acquisition paired with localized engineering, procurement, construction and finance partners in target markets.