Charleston, S.C.-based Palmetto, a technology company focused on the distribution and democratization of clean energy products, has raised $6 million in funding.
Palmetto harnesses its software, fulfillment and financial solutions to streamline the deployment of clean technology products to homeowners. The firm has structured, financed and developed clean energy projects across four continents and 22 countries since its inception in 2009, but today, it focuses entirely on the residential sector in North America.
The round was led by Greycroft with participation from Lerer Hippeau, Box Group and former NBA commissioner David Stern.
Explaining his decision to invest in the clean energy firm, Stern says, “In today’s political climate, it has become clear that it will be the burden of business and the populace to make clean energy a priority. This team has the right mix of passion and experience to lead us into a future powered by renewable energy. I am excited to be part of such an important company.”
Palmetto focuses on residential solar, storage, energy efficiency and in-home Internet of Things products. Other services range from energy consumption analytics to solar production support.
“For the last decade, our focus has been to educate the broader market about the value of a clean energy future. For most of our customers, that equates to one question – can clean technology help me save money?” says Chris Kemper, founder and CEO of Palmetto. “With this round, we plan to broaden the reach of Alchemy, our core software product. The solution helps our solar sales partners streamline the selling process by giving agents the ability to generate custom proposals in less than 30 minutes and by brokering access to industry-leading financing, policy insights, installation services and fulfillment.”