Home solar company Sunrun has raised $60 million in equity financing. The round was led by Madrone Capital Partners, a private investment firm affiliated with Wal-Mart heir S. Robson Walton and other Walton family members. It was joined by existing investors Accel Partners, Sequoia Capital and Foundation Capital.
With this funding, Sunrun says it will continue to develop and scale the software and service expertise needed to keep driving down the cost of solar and simplify its installation process for customers and partners.
According to Sunrun, which introduced the solar lease concept in 2007, the company currently has twice the market share of the next largest provider in California.
