Tigo Energy, which provides the proprietary SmartModule technology for photovoltaic solar installations, says it has now raised $18 million in additional financing, bringing the total company funding in excess of $50 million.
Led by Bessemer Venture Partners, the investment will enable Tigo Energy to accelerate growth, expand manufacturing and focus on international sales, according to the company. Bessemer Venture Partners was joined by all existing investors to complete the capital infusion.
As a result of the investment, Umesh Padval, a partner in Bessemer's Menlo Park, Calif., office, will join the Tigo Energy board of directors.
