Folsom Labs wasn't desperate for the $1 million in angel funding it just raised -- the bootstrapped solar design and optimization startup is already profitable, according to co-founder Paul Grana.
“By raising when we didn’t need the money, we were able to be very selective about the investors we wanted to work with -- and ended up with a group of investors that include the most experienced executives in the solar industry,” said Grana.
But startups need to grow fast, so the funding is aimed at extending the software to span far more of the process flow in a solar project -- from "initial customer lead to final close." The aim is to lower "industry soft costs with work flow improvements," according to the company.
Paul Gibbs, co-founder and CEO, suggests that the startup will extend its software's reach from "refining residential functionality to generating permitting documents – and all steps in between."
Investors include Sheldon Kimber, former COO of Recurrent Energy, Tim Ball, founder of REC Solar, and Fred Kittler of Firelake Ventures. Kimber notes, “The solar industry doesn’t need a new semiconductor technology – it needs tools like HelioScope that help...
Installing new faucets, fixing balky electrical switches, and a variety of other routine household chores are part of a giant home services market that could be worth more than $400 billion and an area of growing interest for big internet powers like Google and Amazon.
That's the gist of an article published on April 12, 2015 in The New York Times.