# Evergrow

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

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.evergrow.com
- Total disclosed funding: $16M
- Latest round: Seed (Jun 7, 2022)
- Investors on record: 6

## About

Evergrow Inc., headquartered in San Francisco, California, is a financial services firm focused on delivering clean energy tax-credit financing to support developers and operators of renewable energy projects.Founded in 2021 by Chris Susanto, James Richards, and Luke Whiting, Evergrow Inc. specializes in financing clean energy initiatives. The firm successfully completed its SEED funding round, raising USD 8.86 mn from investors including Congruent Ventures, First Round Capital, Garuda Ventures, and XYZ Ventures, bringing its total amount raised to USD 8.86 mn and current valuation to USD 61.01 mn. The company has engaged in 3 notable deals since inception.Evergrow specializes in providing comprehensive clean energy tax-credit financing tailored for developers, owners, and operators of clean energy assets. The company’s primary offerings include funding solutions for solar photovoltaic (PV) systems and battery storage projects, which facilitate the financial aspects of clean energy initiatives. By reengineering the tax finance process, Evergrow ensures that clients experience a streamlined transaction process, from underwriting to funding, allowing for efficient financing even for small-scale projects. Their client base encompasses commercial real estate owners, REITs, and clean energy developers across various geographical markets, including California, Maryland, West Virginia, and Iowa. These solutions help clients achieve sustainability goals while enhancing project returns on investment.Evergrow operates on a transactional revenue model focused on B2B partnerships. The firm engages with clients through structured financing arrangements, where developers and operators of clean energy assets seek tax-credit financing to support their projects. By simplifying the financing process, Evergrow facilitates transactions that could include fixed funding agreements based on the specifics of each project. The services enable clients to access necessary capital without the burdens typically associated with traditional financing routes, positioning Evergrow as a vital partner in the clean energy sector.Evergrow plans to leverage its recent funding to expand its product offerings, with new financial solutions designed for upcoming clean energy projects slated for release by early 2024. The company aims to extend its reach into additional markets, particularly targeting regions with emerging clean energy sectors, such as Texas and Florida, by the end of 2024. The recent funding round will be utilized to support these initiatives, enhancing the company's capacity to serve a wider client base and develop innovative financing solutions.

## Funding rounds

- Seed, Jun 7, 2022, $8.9M — First Round Capital, Congruent Ventures, XYZ Ventures, Garuda Ventures
- Seed, Nov 10, 2021, $7M — First Round Capital, Skyview Capital, Congruent Ventures, XYZ Ventures, Garuda Ventures, MCJ

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed
- Skyview Capital (https://capitalatlas.ai/funds/skyview-capital) — Seed
- Congruent Ventures (https://capitalatlas.ai/funds/congruent-ventures) — Seed
- XYZ Ventures (https://capitalatlas.ai/funds/xyz-ventures) — Seed
- Garuda Ventures (https://capitalatlas.ai/funds/garuda-ventures) — Seed
- MCJ (https://capitalatlas.ai/funds/mcj) — Seed