Span, a San Francisco, CA-based home electrification technology company, raised $96M in Series B2 funding.
The round was led by Wellington Management and included investors such as Congruent Ventures, Capricorn Investment Group, Qualcomm Ventures, Fifth Wall, Munich Re Ventures, A/O PropTech, and Amazon’s Alexa Fund.
The company intends to use the funds to extend its ecosystem for whole-home energy management and strengthen its position in electrification as it aims to electrify 10 million homes by 2030.
Led by CEO Arch Rao, Founder and CEO, Span is developing products that enable electrification and simplify the adoption of clean energy including solar, batteries, and electric vehicles. Span Panel gives customers circuit-level management, real-time monitoring, and actionable energy insights through the Span Home app’s interface. Span Panel and the Span Drive electric vehicle charger (sold exclusively as an accessory to SPAN Panel) are designed with hardware innovation and purpose-built with intelligent software.
The company is also developing a research and development facility near their headquarters in San Francisco. The facility will enable advanced product testing in a microgrid environment that can emulate multiple on-grid and off-grid scenarios, helping accelerate new product and feature development. Span is also investing in human capital by hiring software and hardware engineering talent focused on system modeling and controls, forecasting, DER integration, enhanced grid service capabilities, and machine learning.
Through partnerships with major home appliance brands, such as Kenmore, and leading solar and storage providers, such as Sunrun, the company continues to build upon the industry’s most integrated whole-home electrification technology – providing homeowners the ultimate experience with maximum value in savings, comfort, control, and resilience.
Since 2018, Span has grown to a team of over 220 employees.
FinSMEs
24/04/2023