Energize invests in $100M PVcase Growth Round
At Energize we have been tracking the solar software market for years. For years we have known and spoken with the utility scale leader in this software market, PVcase, and today we are excited to announce our formal investment into the company. Energize is a major investor in PVcase’s $100M growth round and we are thrilled to help them scale their company globally and into the stratosphere of renewables. The company, cofounded by David Trainavicius (CEO) and Douglas Geist (CCO), is based in Lithuania. I have tremendous respect for the cofounders and their ethos, mission, product, and competitive spirit aimed at serving the customer. With the investment, I joined the PVcase board and Kevin Stevens as a board observer.
(Links to Energize specific posts “Why We Invested” can be found at the link.)
We are excited to join Irena at Highland Capital and Peter at Elephant in this round. Highland brings incredible growth equity experience and European exposure and Elephant specializes in capital efficient scaling.
This investment comes from Energize’s growth platform. Kevin Stevens and Meredith Breach were both foundational in executing the investment. But like everything at Energize, it was a full team effort as several team members engaged with the PVcase team dating all the way back to 2020. Our EDGE team has already engaged with PVcase and we were excited to be involved in PVcase’s recent acquisition of Anderson Optimization.
I have previously written about how the solar market will yield several large technology companies. One of those notes was an article I wrote for Forbes titled: “The Horizon for Solar: A Vertical Software Decacorn“. A consistent trend in the sustainability landscape is how much bigger the market opportunity grows each year. The solar market is a great example as the scale of the asset class continues to beat any recent expectations. This investment in PVcase is further belief in the asset class and how software will help deploy and manage more assets.
