Solo, a Utah solar company, announces a big investment
Salt Lake City— SOLO, LLC (“Solo”), a leading provider of solar sales, proposal, and design software, announced that it has received a significant minority investment from Bregal Sagemount, a leading growth-focused private equity firm.
Solo is a pioneer and innovator in solar energy sales, accelerating growth of the solar industry with their cloud-based quote, propose, and close platform. In 2017, Solo was the first to market with the introduction of their one-touch-close system. Today, Solo continues to lead the industry as they enhance and expand their platform with best-in-class accuracy, real-time visualization features, proprietary measurement, and calculation engine, presale and educational tools, and integrated partner and lender solutions.
“Our vision shapes everything we do, even our very name,” says Dan Larkin, co-founder and CEO of Solo. “Solo stands for Speed Of Light Operations. It is as much our obsession as it is our vision. Relentlessly pursuing our vision has enabled significant market acquisition and led us to the right strategic and capital partner in Sagemount.”
The Solo and Sagemount partnership is aligned by a shared vision of accelerating growth and speed to market through technology and talent. The investment will be used to fuel further growth for Solo within the solar industry and deepen Solo’s ongoing revolution of the point-of-sale experience by enabling the advancement of new technology, adding and attracting talent, and most importantly, enabling the company’s ambitious milestones in clean energy adoption.
“Solo is an innovation engine solving the most critical challenges of the solar ecosystem,” says Pavan Tripathi, Partner at Bregal Sagemount. “The Solo team has an impressive focus on anticipating the needs of its clients, and we are excited to partner with Dan and the Solo team to help advance the energy transition.”
Sagemount’s investment was led by Pavan Tripathi, Sandeep Swaminathan, Gerald Castaldo, and Harrison Boyajian. Goodwin Procter served as legal counsel to Sagemount, and Mayer Brown served as legal counsel to Solo.