California — Aurora Solar announced it closed a $200 million Series D funding round co-led by current investors Coatue and Energize Ventures with participation from Fifth Wall, ICONIQ and new investors, Lux Capital and Emerson Collective.
With this funding, Aurora Solar says it’ll accelerate its mission to create a future of clean energy by equipping solar professionals with a software platform for every step of the solar adoption process.
“As a trusted partner to the fastest-growing solar companies, we have a unique vantage point from which to deliver customer-centric innovation,” said Christopher Hopper, Co-founder and CEO of Aurora Solar. “We are thrilled about our next chapter and accelerating innovations that enable every member of the solar organization to benefit from data and AI, and ultimately deliver on the promise of solar.”
The solar industry is at a strategic inflection point. According to the Solar Energy Industry Association (SEIA), solar has experienced an average annual growth rate of 42% in installed solar capacity over the past decade and is expected to continue setting a series of record years until 2024. This strong industry-level momentum, along with the dramatic shift to a digital-first business environment, further accelerated by the pandemic, has highlighted the need for the solar companies to double down on digital transformation.
“Software is increasingly becoming a mission-critical part of every solar organization’s technology and operating strategy,” said Samuel Adeyemo, Co-founder and CRO of Aurora Solar. “Aurora’s focus is to help our customers tackle some of the industry’s biggest challenges head-on: accelerating sales cycles, scaling up design operations, and transitioning costly and ineffective manual processes to automated and integrated workflows.”