Enphase Closes $40 Million In Funding

Enphase Energy has secured $40 million in funding, with Bay Partners leading the equity financing. This round of financing also includes participation from Horizon Technology Finance and Bridge Bank, as well as existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures LLC.

‘This financing will be used to fund our expansion plans and further strengthen our balance sheet,’ says Sanjeev Kumar, chief financial officer of Enphase Energy.

The company also recently noted that it has now shipped 250,000 inverters.

SOURCE: Enphase Energy

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