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Solar company Sunrun secures $150m

16 May 2014

dollars roll_sqHome installation solar company Sunrun has secured $150m in the largest round ever raised by a private residential solar company in the US.

Sunrun said that “a leading public institutional investor” led the round with a $100m investment with the rest provided by new and existing backers.

Venture capital firms that are invested in the company include Accel Partners, Foundation Capital, Madrone Capital Partners and Sequoia Capital.

Madrone led a $60m investment round for the company in May 2012.

The company said it will use the funds to broaden its reach to consumers and continue developing tools and technologies.

Sunrun CEO Lynn Jurich said, “Sunrun is adding 15 customers every working hour through our deliberate approach to sustainable growth that never compromises the customer experience. But, we are still in the first inning of a decades-long industry growth story.

“With this capital and our leading market position, we are excellently poised to take advantage of the enormous market potential that exists. Sunrun’s scalable platform allows us to be nimble, while aggressively pursuing growth with the consumer in mind.”

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