# ConnectDER

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/connectder

- Industry: Electronics
- Headquarters: Philadelphia, US
- Website: www.connectder.com/
- Total disclosed funding: $76M
- Latest round: Series D (Dec 3, 2024)
- Investors on record: 13

## About

ConnectDER, based in the US, focuses on the seamless integration of solar panels and electric vehicle (EV) chargers into homes through innovative meter socket adapters, enhancing energy accessibility and efficiency for homeowners.ConnectDER, founded in 2011 in Philadelphia, US, simplifies the connection of solar and EV technologies at residential meter sockets. The company has executed 5 deals, with its most recent funding round being Series D on December 3, 2024, raising USD 35.004 mn, led by Decarbonization Partners. CEO Whitman Fulton, who is also the Founder, has not publicly stated prior ventures. ConnectDER has consistently focused on product innovation and market penetration without significant pivots in strategy.ConnectDER specializes in simplifying the integration of solar panels and electric vehicle (EV) chargers into residential properties through their innovative meter socket adapters (MSAs). These products allow for rapid and cost-effective connections without the need for extensive electrical upgrades, making clean energy more accessible to homeowners. By facilitating the interconnection of solar and EV technologies directly at the meter socket, ConnectDER addresses common barriers such as outdated wiring and undersized electrical panels, which often hinder adoption in lower-income communities. Their offerings have gained traction across various regions in the United States, particularly where utility partners like Austin Energy provide services. The core customer base includes homeowners looking to reduce energy costs and installers seeking efficient solutions for their clients.ConnectDER generates revenue primarily through the sale of its UL-Listed meter socket adapters designed for both solar and EV installations. Typically, transactions occur through partnerships with solar installation companies and utilities, which integrate ConnectDER’s products into their service offerings. The pricing structure for these products is designed to ensure affordability, with homeowners reportedly saving an average of USD 1,000 in installation costs compared to traditional methods. Additionally, the company collaborates with licensed electricians who facilitate the installation of their products, further enhancing the ease of use and market reach. The revenue model effectively combines direct-to-consumer sales with business-to-business partnerships, positioning ConnectDER as a key player in the expanding clean energy sector.In December 2024, ConnectDER raised USD 35.004 mn in Series D funding to accelerate product innovation, market expansion, and manufacturing development. The recent funding will support the launch of new products designed to further enhance the integration of renewable technologies in residential settings. The company aims to expand its market presence into new geographic regions, targeting specific areas in the US where demand for solar and EV integration is growing. ConnectDER’s strategic focus on innovation and market outreach is set to bolster its position in the clean energy landscape.

## Funding rounds

- Series D, Dec 3, 2024, $35M — MassMutual Ventures, Energy Innovation Capital, Zoma Capital, Avista Development, Clean Energy Ventures, LG Technology Ventures, Evergy Ventures, Decarbonization Partners
- Series C, Mar 8, 2023, $27M — Riverstone Holdings, Skyview Capital, Energy Innovation Capital, Avista Development, Clean Energy Ventures, LG Technology Ventures, Evergy Ventures
- Series B, Jan 22, 2020, $7M — Skyview Capital, Avista Development, Clean Energy Ventures
- Series B, Sep 16, 2019, $5M — Clean Energy Ventures
- Series A, Jan 22, 2018, $1.8M — Skyview Capital, Investors' Circle, E8 Angels, Ground Squirrel Ventures

## Investors

- Skyview Capital (https://capitalatlas.ai/funds/skyview-capital) — Series A, Series B, Series C
- Investors' Circle — Series A
- E8 Angels — Series A
- Ground Squirrel Ventures (https://capitalatlas.ai/funds/ground-squirrel-ventures) — Series A
- Clean Energy Ventures (https://capitalatlas.ai/funds/clean-energy-ventures) — Series B, Series C, Series D
- Avista Development — Series B, Series C, Series D
- Riverstone Holdings (https://capitalatlas.ai/funds/riverstone-holdings) — Series C
- Energy Innovation Capital (https://capitalatlas.ai/funds/energy-innovation-capital) — Series C, Series D
- LG Technology Ventures (https://capitalatlas.ai/funds/lg-technology-ventures) — Series C, Series D
- Evergy Ventures (https://capitalatlas.ai/funds/evergy-ventures) — Series C, Series D
- MassMutual Ventures (https://capitalatlas.ai/funds/massmutual-ventures) — Series D
- Zoma Capital — Series D
- Decarbonization Partners (https://capitalatlas.ai/funds/decarbonization-partners) — Series D