Beamreach Funding, Investors & Competitors

Beamreach has raised $156M across 3 funding rounds, most recently a $70M Series D in August 2015.

Last Beamreach funding round

$70M

Series D · Aug 2015

Cumulative funding Beamreach raised

$156M

across 3 funding rounds

Key investors in Beamreach

  • Kleiner Perkins
  • Northgate Capital
  • DAG Ventures
  • SuRo Capital
  • SunPower
  • Technology Partners
  • GAF
  • Jasper Ridge Partners

Beamreach Overview

About Beamreach

Beamreach Solar is a Seattle-based developer of photovoltaic technologies focused on high-efficiency, low-cost crystalline silicon solar cells and modules. It pioneered metal wrap-through cell architecture achieving over 24% efficiency in production-scale modules. The company's innovations target utility-scale and commercial installations, reducing balance-of-system costs through higher power output per watt. Beamreach supplied modules to projects in Europe and Asia before its acquisition by SunPower in 2010.


Founded

2005

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Beamreach Funding History

Beamreach has raised a total of $156M across 3 funding rounds.

Beamreach's first fundraising round was a $55M Series C in August 2013. The most recent completed round was a $70M Series D in August 2015.

Beamreach funding rounds

Beamreach funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2015Series DSuRo Capital; Technology Partners; Northgate Capital; Kleiner Perkins; GAF; Spirox; SunPower; Jasper Ridge Partners; DAG Ventures$70MBeamreach Solar is a renewable energy company focused on solar hardware development, particularly thin-silicon or high-efficiency solar technologies, later pivoting to a commercial product with reported sales traction. The company raised a total of $247.49M across multiple rounds from investors including Kleiner Perkins, DAG Ventures, Technology Partners, Riyadh Valley Company, GAF, SunPower, Northgate Capital, GSV Capital, Jasper Ridge Partners, and Spirox, among others. In 2015, it secured $25 million in senior debt financing from Opus Bank. Despite spending a quarter billion dollars and achieving demand for its latest commercial product, Beamreach faced loans due and a catastrophic cash flow situation, leading to bankruptcy and liquidation in 2022, with vendors unpaid and venture investors walking away. Competitors include Bossa Nova Vision, Accustrata, Ultrasonic Technologies, Ampulse, and Solaicx.
Jul 2014Series DGAF (lead); SuRo Capital; Technology Partners; Northgate Capital; Kleiner Perkins; SunPower; Jasper Ridge Partners; DAG Ventures$31MBeamreach Solar was a solar photovoltaic hardware manufacturer founded in a direct commercialization effort after its back-contact cell technology reached NREL-certified efficiency of 21.2 percent in 2014. The company aimed to ship 20-percent-efficient photovoltaic modules at a cost of $0.42 per watt by 2014 but missed this target. Beamreach later rebranded and pivoted to target the commercial and industrial rooftop market with a lightweight, easy-to-install module featuring thinner front sheet glass, a composite material frame, integrated mounting structure, and adhesion method for low-slope commercial rooftop surfaces. The product received positive market reception from commercial buyers. Beamreach raised a total of $247.49 million across multiple funding rounds from investors including Kleiner Perkins, DAG Ventures, Technology Partners, Riyadh Valley Company (the VC investment arm of King Saud University of Saudi Arabia), GAF (a large roofing materials manufacturer), and SunPower, among others. Despite substantial demand and sales traction for its commercial product, the company filed for bankruptcy in August 2022 due to legacy misspending, debt obligations, and a catastrophic cash flow situation that accumulated over nine years of operations.
Aug 2013Series CSuRo Capital; Technology Partners; Northgate Capital; Kleiner Perkins; SunPower; DAG Ventures$55M-

Who has invested in Beamreach?

9 investors have backed Beamreach across its funding rounds, including Kleiner Perkins, Northgate Capital, DAG Ventures, SuRo Capital, SunPower and Technology Partners.

Lead investors include GAF.


Beamreach Investors

Investors in Beamreach by funding rounds participated
InvestorHQRoundsRoleFirst check
SuRo CapitalUnited StatesSan Francisco, CA3ParticipantAug 2013
Technology PartnersUnited StatesSan Francisco, CA3ParticipantAug 2013
Northgate CapitalUnited StatesSan Francisco, CA3ParticipantAug 2013
Kleiner PerkinsUnited StatesSan Francisco, CA3ParticipantAug 2013
SunPowerUnited StatesSan Francisco, CA3ParticipantAug 2013
DAG VenturesUnited StatesSan Francisco, CA3ParticipantAug 2013
GAFUnited StatesPhiladelphia, PA2LeadJul 2014

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Beamreach Competitors

Beamreach competitors include listed companies like GE Vernova, Vestas, First Solar and Hyosung Heavy Industries, and private ones like Adani New Industries and Enpal.

Public and private companies comparable to Beamreach
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GE VernovaUnited StatesUnited StatesPublicly listed$38B$3.2B$246B5.4x
Adani New IndustriesIndiaAhmedabadPrivate--$50B-
VestasDenmarkDenmarkPublicly listed$22B$2.6B$32B1.3x
First SolarUnited StatesUnited StatesPublicly listed$5.2B$2.1B$22B4.0x
Hyosung Heavy IndustriesSouth KoreaSouth KoreaPublicly listed$4.3B$533M$19B4.0x
EnpalGermanyBerlinPrivate$1B$24M$2.5B-

Beamreach Public Comps

Beamreach is still privately-owned, but its public comps include GE Vernova, Iberdrola, Siemens Energy, China Yangtze Power, Constellation Energy, Bloom Energy, SLB, Baker Hughes, Vistra and Sandvik.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
Siemens Energy$45B$4.5B2.7x2.4x27.3x16.1x
China Yangtze Power$13B$11B11.4x11.3x13.9x14.4x
Constellation Energy$26B$5B4.6x3.8x23.5x15.3x
Bloom Energy$2B($14M)40.9x23.7x(5906.9x)112.5x
SLB$36B$7B2.4x2.4x12.5x10.6x
Baker Hughes$28B$4.3B2.0x2.0x13.3x11.3x

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Common questions about Beamreach

When was Beamreach founded?Beamreach was founded in 2005.
Where is Beamreach headquartered?Beamreach is headquartered in San Jose, CA, United States.
Is Beamreach publicly listed?No, Beamreach is a private, VC-backed company.
How much funding has Beamreach raised?Beamreach has raised $156M across 3 funding rounds.
What was Beamreach's last funding round?Beamreach's last funding round was a $70M Series D in August 2015.
Who are Beamreach's investors?Beamreach's investors include SuRo Capital, Technology Partners, Northgate Capital, Kleiner Perkins, SunPower, DAG Ventures, GAF, Jasper Ridge Partners and Spirox.
Which companies are comparable to Beamreach?Companies comparable to Beamreach include GE Vernova, Adani New Industries, Vestas, First Solar, Hyosung Heavy Industries and Enpal.

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