ENACT SYSTEMS today announced an investment of $11.5M in Series A financing led by Energy Growth Momentum (https://egmomentum.com/) a growth capital fund focusing on digital technologies applicable to the energy sector.
Additional investors in the round include early backers NB Ventures, ARKA Venture Labs, Olympus Capital and Alumni Venture Funds, along with several angel investors.
“The ENACT end-to-end software platform is transforming how distributed solar and energy storage projects are deployed and managed”, said Deep Chakraborty, Co-Founder and CEO. “With this important capital infusion, we will be taking our platform expansion to the next level”, Deep added.
ENACT’s software platform enables end-customers to manage their clean energy transition, as their single source of truth for system performance and financial return. Sales teams can also leverage ENACT’s two-sided platform to design, price and build attractive proposals remotely, finalize contracts and track project execution. The powerful two-sided platform leverages data analytics to improve customer experience and outcomes, with $1.5B+/year of projects now on the platform in 20+ countries.
“This investment will accelerate our plan to support the global climate transition and boost the adoption of renewable generation globally,” said Adeeb Asfari, Managing Partner of Energy Growth Momentum.
First launched in 2017, ENACT SYSTEMS has steadily expanded its software platform capabilities. ENACT is showcasing their latest technology at the RE+ Conference at Anaheim, CA Sept 19-22, 2022 at booth #4138 (schedule your meeting with ENACT here).
“We have been tracking ENACT’s steady progress on building out its unique two-sided platform strategy. ENACT is poised for rapid growth ahead as solar and storage becomes a new purchase category across major urban markets globally”, said Neelesh Bhatnagar, Managing Partner of NB Ventures and seed investor at ENACT SYSTEMS.
About ENACT SYSTEMS
ENACT SYSTEMS provides the leading end-to-end software platform for solar and energy storage projects: design, pricing, installation management and asset management on a single cloud platform. ENACT’s SAAS Platform is transforming how distributed energy resources are deployed and managed, with thousands of users in 20+ countries, headquartered in Pleasanton, CA, USA.