Boston-based WindSail Capital Group invested $3 million in Genability Inc, a provider of energy cost and savings data based in San Francisco.
SAN FRANCISCO–(BUSINESS WIRE)–Genability, Inc., the leading new energy software company, is pleased to announce a $3 million investment from WindSail Capital Group, a Boston-based investment firm that provides growth financing to companies advancing energy innovation and sustainability.
WindSail’s investment will allow Genability to continue its fast growth in rooftop and community solar, as well as electric vehicles, behind the meter storage, and connected homes and buildings. This funding will also support Genability’s rollout of new products built on top of the Company’s best-in-industry capabilities in electricity costs and savings.
“As we looked for a growth investor, WindSail stood out as a terrific partner for us. They allowed us to leverage our rapidly growing revenue and customer base to secure the funds to continue to expand our products and services,” said Jason Riley, Genability Founder and CEO. “This investment will help us to independently deliver more value to our customers, including exciting new offerings for homes, businesses and utilities.”
“Genability has built a market-leading business providing clean energy companies with the most comprehensive rate engine and related products in the market,” said Ian Bowles, co-founder and Managing Director of WindSail. “They are a great fit for our focus on clean energy services businesses with a strong growth trajectory.”
“WindSail shares our dedication to energy innovation through sound business performance,” said Riley. “We look forward to working together as we promote a sustainable energy future.”
Genability provides energy cost and savings data to the leaders in solar (e.g. SunPower, SolarCity, NRG, Sunrun, SunEdison), storage (Tesla, Stem), EV (BMW, ChargePoint) and HEM (Whirlpool, Alarm.com). Genability’s products integrate our sophisticated rate engine and the only accurate, comprehensive database of electricity rates and incentives to provide energy cost insights. Our products include: (i) Switch is our lead-to-close sales product. We power 8 of the top 10 solar providers calculating and delivering estimated savings proposals to their customers. (ii) Conduct is our load management and optimization product. This enables EV OEMs to “smart charge” EVs or HEMs to distribute a load based on TOU rates, etc. and (iii) Verify is our independent assessment of actual monthly energy savings that allows our customers to positively impact customer referral and conversion rates.
For more information, please visit www.genability.com
About WindSail Capital Group, LLC
WindSail Capital Group is a Boston based investment firm that provides growth capital to early stage commercial businesses advancing energy innovation and sustainability. WindSail’s unique approach offers companies flexible and creative financing solutions that meet their specific financing needs while facilitating growth and minimizing dilution. WindSail invests $2.0 to $8.0 million in each transaction.
For more information, please visit www.windsailcapital.com