Sunrun just announced a new round of equity financing totaling $60 million dollars. With this funding, Sunrun will continue to develop and scale the service expertise it needs to keep driving down the cost of solar and to simplify the installation process for its customers and partners.
Sunrun President and co-Founder Lynn Jurich says the funding will lead to a new level of innovation in the solar space. Now that Sunrun has proven just how affordable solar can be, the logical next step is to innovate further on the installation process, service and cost reduction, all with the hope of opening the market up to more homeowners.
Planned upgrades include a 50 percent employee increase by the end of the year, including doubling the number of software engineers. We’ll need many more programmers as the company builds the technology needed to simplify installations and continues to reduce the complexity of the permitting process.
More than spectacular support from investors, the $60 million investment is also a vote of confidence in Sunrun and its business model. Investment like this emphasizes the current success and long-term potential of solar power service and continues to highlight Sunrun as the market leader.
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Congrats on the investment! Looking forward to what is next for SUNRUN.