# Enphase Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/enphase-energy

- Industry: Renewable Energy
- Headquarters: Fremont, US
- Website: www.enphase.com/en-in
- Total disclosed funding: $78M
- Latest round: Series E (Mar 30, 2010)
- Investors on record: 6

## About

Enphase Energy, Inc. is a California-based company specializing in advanced solar energy solutions, focusing on microinverters, energy storage systems, and smart software applications for both residential and commercial markets.Founded in 2006 in Fremont, California, Enphase Energy, Inc. develops innovative solar technology that includes microinverters and energy storage solutions. The company transitioned to public status in March 2012 through its IPO, raising USD 51.1 mn by selling 8.97 million shares. The company was co-founded by Annette Roth and is currently led by CEO Badri Kothandaraman.Enphase Energy specializes in solar energy solutions, with a focus on microinverters, energy storage systems, and software applications designed for residential and commercial use. The company's flagship product, the IQ8 Series microinverter, converts solar energy into usable electricity while optimizing energy production and allowing homeowners to manage their energy consumption efficiently. Enphase’s energy storage offerings, such as the IQ Battery 5P with FlexPhase, provide users with a means to store excess energy generated during the day for use during peak hours or outages. These products aim to address the growing need for renewable energy solutions and energy independence among consumers. Enphase primarily serves markets in North America, Europe, and parts of Asia-Pacific, catering to homeowners, businesses, and installation professionals seeking sustainable energy alternatives.In the most recent fiscal year 2024, Enphase Energy reported a revenue of USD 1.33 bn and an EBITDA of USD 158.68 mn. The company generates revenue through direct sales of its solar products and associated services, employing a B2B and B2C model. They maintain partnerships with installers and electricians for product distribution and installation services.Enphase Energy aims to enhance its product lineup with upcoming innovations in solar technology, focusing on expanding its microinverter and energy storage offerings. The company plans to enter new markets in Asia-Pacific and Europe by 2025, leveraging recent funding from their IPO to support these initiatives. The funds raised during the IPO were intended to advance product development and expansion, positioning Enphase for continued growth and market penetration.

## Funding rounds

- Series E, Mar 30, 2010, $40M — Bay Partners, RockPort Capital Partners, Madrone Capital Partners, Applied Ventures, Third Point, Horizon Technology Finance Corporation
- Series D, May 18, 2009, $23M — Bay Partners, RockPort Capital Partners, Madrone Capital Partners, Applied Ventures, Third Point
- Series C, Sep 9, 2008, $15M — RockPort Capital Partners, Applied Ventures, Third Point

## Investors

- RockPort Capital Partners (https://capitalatlas.ai/funds/rockport-capital-partners) — Series C, Series D, Series E
- Applied Ventures (https://capitalatlas.ai/funds/applied-ventures) — Series C, Series D, Series E
- Third Point (https://capitalatlas.ai/funds/third-point) — Series C, Series D, Series E
- Bay Partners (https://capitalatlas.ai/funds/bay-partners) — Series D, Series E
- Madrone Capital Partners — Series D, Series E
- Horizon Technology Finance Corporation — Series E