Complete Solar Solution Raises $5M to Fuel Further Innovation and Growth
Investors Identify HelioQuote™ Software and Efficient Business Model as Key to Solar Business Future
FOSTER CITY, Calif., March 11, 2014-- Complete Solar Solution™ today announced it has received a $5 million investment led by the Ecosystem Integrity Fund (EIF), a venture capital fund with a successful track record in identifying, growing and selling innovative sustainability start-ups. EIF selected Complete Solar Solution because of its game-changing proprietary software, superior operational efficiencies, and focus on delivering the industry's best customer experience. This round of funding will enable Complete Solar Solution to reach $100 million in annual revenue within the next two years by advancing the capabilities of its market-leading software and expanding its operations into additional regions in California and the Northeast.
"Complete Solar Solution is the clear technology leader in the U.S. residential solar industry. The company's innovative, technology-rich approach to selling solar has rapidly made it a highly efficient, low-cost provider, and we are confident in the team's ability to continue to grow and innovate," said Devin Whatley, Partner at EIF. "Complete Solar Solution's assets and abilities have it well-positioned to be a disruptive force and eventually a leader in this market."
Complete Solar Solution's proprietary HelioQuote™ software gives the company a competitive advantage by delivering a fully optimized and customized solar solution for each customer. That optimization means a solution that addresses each customer's unique situation, factoring in their financial requirements, local weather patterns, energy usage and physical home structure. While other providers claim customization based on a few variables, Complete Solar Solution is the only company that can dynamically assess the full breadth of all possible solar solutions -- analyzing dozens of variables and thousands of product and financial options resulting in literally billions of possible combinations -- to identify the best option that delivers the maximum value for each homeowner.
"There's enormous opportunity for the solar industry, but to move it forward we must invent new ways to better manage our businesses and better meet the needs of our customers. That's been our focus since day one," said Will Anderson, Complete Solar Solution CEO. "Complete Solar Solution is a next-generation solar company addressing the industry's unique challenges and eliminating inefficiencies at every step in the process. We deliver an unmatched level of customization and optimization for homeowners -- ultimately driving more sales and more satisfied customers."
In just three years, Complete Solar Solution has established an extremely efficient and holistic approach to the solar business, automating everything from its supply chain and installation logistics, to individually-focused customer financing. The company's proprietary technology allows it to more effectively manage every detail, including local permitting, and ensures operational efficiencies within the marketing and sales cycle. To that end, Complete Solar Solution delivers and installs in just three weeks -- which is seven times faster than the industry average. Complete Solar Solution has developed not only a better, lower cost approach to market, sell, and install solar, but also a better way to ensure customer satisfaction.
About the Ecosystem Integrity Fund
The Ecosystem Integrity Fund (EIF) is a sustainability-focused venture capital firm. The firm takes a systems approach to sustainability problems, and targets capital-efficient opportunities in niches which have not received sufficient investor attention.
Additional investors include Floodgate Capital and several individual investors.
About Complete Solar Solution™
Complete Solar Solution's mission is to deliver the most efficient end-to-end solar installation experience and to earn the highest level of customer satisfaction in the industry. The company, founded in 2010, has developed HelioQuote™, a proprietary software solution that delivers unmatched customization for solar customers and ensures its customers realize maximum value. For more information, visit Complete Solar Solution at www.completesolar.com.
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