Enphase Energy closes US$40 million in financing round

March 31, 2010
Facebook
Twitter
LinkedIn
Reddit
Email

Enphase Energy has secured US$40 million in funding, with Bay Partners leading the equity financing. This round of financing also includes participation from Horizon Technology Finance, Bridge Bank and existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures.

“Enphase has captured significant market share in the inverter space in an extraordinarily short time frame. This financing will be used to fund our expansion plans and further strengthen our balance sheet,” said Sanjeev Kumar, chief financial officer of Enphase Energy. “We are pleased to have the support of Bay Partners, Horizon Technology Finance, Bridge Bank and our existing investors, and their recognition that Enphase is poised to further accelerate this market share growth.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Enphase has a remarkably driven management team, and an excellent track record of technology innovation. We’re excited to invest in a company that is leading the transition in the inverter market from central to microinverters,” said Sandesh Patnam, Bay Partners.

“Shipping 250,000 inverters in such a short period of time is a remarkable achievement for any company,” said Greg Clark, Managing Director of Horizon Technology Finance. “This new round of financing will enable Enphase to continue this phenomenal growth.”

Read Next

April 24, 2026
Indian module manufacturer Saatvik Green Energy has acquired an 80% equity stake in Melcon Transformers and Electricals.
Sponsored
April 24, 2026
PV Tech spoke to Ricky Chen, President of Huawei Asia Pacific Smart PV & ESS Business, about FusionSolar9.0's role in enabling higher-quality solar deployment
Premium
April 24, 2026
US solar permitting delays are raising costs and slowing deployment, with PV Tech speaking to Crux experts on implications for developers and the wider PV industry.
April 24, 2026
Scientists at Germany’s Fraunhofer Institute for Solar Energy Systems (ISE) have developed coloured films for solar PV modules that can imitate roof tiles or building facades.
Premium
April 24, 2026
Reforms to the UK’s grid connection process for renewable energy projects are underway, aimed at easing the logjam of applications.
April 24, 2026
The US DoC has issued preliminary affirmative determinations in antidumping duty investigations, setting preliminary dumping margins of 123.04% for India, 35.15% for Indonesia and 22.46% for Laos.

Upcoming Events

Upcoming Webinars
May 27, 2026
9am BST / 10am CEST
Media Partners, Solar Media Events
June 3, 2026
National Exhibition and Convention Center (Shanghai)
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain