Wednesday, May 23, 2012

Sunrun Raises $60M

San Francisco-based Sunrun, which provides solar power lease plans and financing to residential homeowners, has raised $60M in an equity fundraising, the firm said this morning. The funding was led by Madrone Capital Partners, and also included Accel Partners, Sequoia Capital, and Foundation Capital. Sunrun said the funding will go to help it continue to develop and scale its software and service expertise. Sunrun provides power purchase agreements (PPAs), which allow homeowners to install solar power for no or very low cost, by promising to pay payments for that solar power over the life of those systems. More information »