Sunrun
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| Public | |
| Traded as | NASDAQ: RUN |
| Industry | Solar Energy |
| Founded | 2007 |
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Key people
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Lynn Jurich, Chief Executive Officer (CEO) Edward Fenster, Chairman. |
| Website | sunrun.com |
Sunrun Inc. is a United States-based provider of residential solar electricity, headquartered in San Francisco, California.
Sunrun was co-founded in January 2007 by Nat Kreamer with a business model in which it offers customers either a lease or a Power Purchase Agreement (PPA) business model whereby homeowners pay for electricity usage but do not buy solar panels outright, reducing the initial capital outlay required by the homeowner. Sunrun is responsible for installation, maintenance, monitoring and repairs.
The company raised $12 million in venture capital funding from a group of investors including Foundation Capital in June 2008. In 2009, Sunrun closed a Series B round of funding for $18 million led by Accel Partners and joined by Foundation Capital. The company also received an additional commitment of $90 million in tax equity from U.S. Bancorp in 2009, following the $105 million in project financing from the bank in 2008. In June 2010, Sunrun struck a deal with PG&E for $100 million. Following the deal, the company announced $55 million in fresh capital from Sequoia Capital.
In May 2014, the company raised $150 million.
In 2015 Sunrun went public (NASDAQ: RUN) at $14 per share, with an initial market capitalization of $1.36 billion and launched its BrightBox product in the state of Hawaii. The next year it started selling BrightBox in California.
In August 2016, Sunrun announced that one of San Francisco's architectural icons and famous "Painted Lady" homes was going solar using their technology. The home sits on a row of classic Victorian homes that is one of San Francisco's most photographed locations and recognized nationally from the opening scenes of the hit TV sitcom Full House.
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