Sungevity raises US$6 million, adds COO, CFO and VP of engineering

Leading online solar provider Sungevity announced today that it has raised an additional US$6 million led by Greener Capital, a new venture capital firm. The company has also added three key members to its executive team, doubled its salesforce, and plans to enter three new geographies by the end of the year.

Charles Finnie, managing partner in Greener Capital, said. "Sungevity's unique web-based direct selling model has enabled the potential for rapid deployment, great customer service and scalability at the lowest installed cost in the industry. We are excited to invest in Sungevity, as solar power becomes competitive with grid electricity across the US. Finnie will also join the Sungevity Board.

Joining the Sunevity team is Charles Ferer, who will be the company's CFO. Ferer joined the company from SolarCity where he was also CFO. Ferer has a B.A. in Economics from the University of Puget Sound, and an MBA in Finance from Indiana University.

Sunevity's new COO will be Daphne Li. Li has held key leadership positions in marketing, product management, strategy and M&A at ADP and Apple. She currently sits on KQED's board. Li has a B.A. in Economics and an MBA, both from Stanford.

The final new recruit is Ariel Tseitlin, who will become VP of Engineering. Tseitlin was most recently the Founder & CEO of CTOWorks, a software consultancy advising early-stage start-ups on their technology strategy. He holds a bachelor's degree in Computer Science from UC Berkeley and an MBA with Honors from Wharton.

"With our easy online service, we have the lowest-cost way of getting solar power into American homes" said Andrew Birch, CEO and cofounder of Sungevity. "Now we have the team and resources to make sunshine online available to millions of home-owners."