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- Renovate America
Renovate America Valuation, Funding & Investors
Renovate America is valued at $500M as of October 2015.
Last Renovate America valuation
$500M
Undisclosed stage · Oct 2015
Last Renovate America funding round
$90M
Undisclosed stage · Oct 2015
Cumulative funding Renovate America raised
$144M
across 3 funding rounds
Key investors in Renovate America
Valor Equity Partners
Rockport Capital
Macquarie Asset Management
DFJ Growth
Silver Lake
Spring Creek Investment Management
About Renovate America
Renovate America is a California-headquartered provider of property-assessed clean energy financing for residential energy efficiency and water conservation upgrades. Through its HERO Program, available in over 40 states, homeowners access no-upfront-cost loans repaid via property tax assessments. The platform supports installations of solar panels, HVAC systems, and water-saving fixtures, generating billions in project financing since 2012. Renovate America partners with more than 500 municipalities, including Los Angeles County and San Diego, to deploy programs that reduce household energy use by up to 30 percent. Its proprietary software streamlines contractor approvals and homeowner applications nationwide.
Founded
2008
HQ
Website
Status
Privately held
Customer focus
B2C & B2G
Revenue model
Services
Valuation
$500M (Oct 2015)
Renovate America Valuation
Renovate America is currently valued at $500M, based on its undisclosed-stage round in October 2015.
The $90M round was led by DFJ Growth, with participation from Silver Lake, 400 Capital Management, Valor Equity Partners and Rockport Capital.
Renovate America valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2015 | Undisclosed stage | $500M |
Renovate America Funding History
Renovate America has raised a total of $144M across 3 funding rounds.
Renovate America's first fundraising round was a $4M seed round in June 2013. The most recent completed round was a $90M undisclosed-stage round in October 2015.
Renovate America funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2015 | Undisclosed stage | DFJ Growth (lead); Silver Lake; 400 Capital Management; Valor Equity Partners; Rockport Capital | $90M | $500M | - |
| Jul 2014 | Undisclosed stage | Valor Equity Partners (lead); Macquarie Asset Management; Spring Creek Investment Management; Spring Creek Group; Rockport Capital | $50M | - | Renovate America provides financing for energy and water efficiency home improvements through its HERO Program, a residential Property Assessed Clean Energy (PACE) solution offered in partnership with municipalities. The program includes consumer protection, business automation software, workforce training, and access to private capital, enabling over 1 million energy- and water-saving products for homeowners. By mid-2014, it had financed more than $250 million in HERO projects, and cumulatively provided over $900 million in financing, created over 7,500 local jobs, saved homeowners a projected $1.7 billion on energy bills, reduced water use by more than 1.6 billion gallons, and cut greenhouse gas emissions equivalent to removing 300,000 SUVs from roads for a year. The HERO Program has received awards like the Governor's Environmental and Economic Leadership Award in California, Urban Land Institute Best of the Best, and Southern California Association of Governments President's Award for Excellence. In July 2014, Renovate America closed a $50 million equity investment round with investors including Valor Equity Partners (lead), Macquarie Capital, Rockport Capital, Spring Creek Group, and Spring Creek Investment Management. A later growth round on 10/02/15 raised $90 million from a broader group including Valor Equity Partners and RockPort Capital. |
| Jun 2013 | Seed | - | $4M | - | - |
Who has invested in Renovate America?
8 investors have backed Renovate America across its funding rounds, including Valor Equity Partners, Rockport Capital, Macquarie Asset Management, DFJ Growth, Silver Lake and Spring Creek Investment Management.
Lead investors include DFJ Growth and Valor Equity Partners.
Renovate America Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jul 2014 | ||
| 2 | Participant | Jul 2014 | ||
| 1 | Participant | Oct 2015 | ||
| 1 | Participant | Jul 2014 | ||
| 1 | Participant | Jul 2014 | ||
| 1 | Lead | Oct 2015 | ||
This data is available for Pro users. Sign up to see all 8 Renovate America investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Renovate America
Renovate America has acquired 1 company to date.
Last acquisition by Renovate America was on August 3rd 2016. Renovate America acquired CakeSystems for undisclosed valuation.
Latest Acquisitions by Renovate America
| Description | CakeSystems is a software firm creating energy trading and portfolio management tools. Portland-headquartered at 808 SW 3rd Avenue, Oregon, it serves utilities and traders with platforms for real-time bidding, risk analysis, and compliance reporting in wholesale electricity markets. The company supports North American grids, handling complex derivatives and renewable certificate tracking. |
| HQ Country | |
| HQ City | Portland, OR |
| Deal Date | 3 Aug 2016 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Renovate America acquisitions and their M&A valuation multiples. Start Free Trial | |
Renovate America Competitors
Renovate America competitors include listed companies like NYAB, JinkoSolar and Array Technologies, and private ones like Chestnut Carbon, HIF Global and Fulcrum Bioenergy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $630M | $41M | $521M | 0.7x | ||
| Private | - | - | $450M | - | ||
| Publicly listed | $9.8B | ($44M) | $564M | 0.6x | ||
| Private | - | - | $600M | - | ||
| Private | - | - | $603M | - | ||
| Publicly listed | $1.3B | $34M | $650M | 1.1x |
Renovate America Public Comps
Renovate America is still privately-owned, but its public comps include Kalyon Güneş Teknolojileri, Hansen Technologies, eGuarantee, NYAB, Akfen Yenilenebilir Enerji, Chrysos Corp., Zephyrus Wing Energies, Aye Finance, CW Enerji and Aduro Clean Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | - | - | - | - | - | |||
| $275M | $52M | 1.9x | 1.9x | 9.8x | 6.3x | |||
| $71M | $34M | 6.2x | 6.1x | 13.2x | 12.4x | |||
| $630M | $41M | 0.8x | 0.7x | 12.3x | 9.8x | |||
| $119M | $61M | 6.5x | 4.6x | 12.7x | 8.4x | |||
| $63M | $19M | 8.9x | 8.5x | 29.1x | 26.6x | |||
| $65M | $34M | 11.8x | - | 22.9x | - | |||
| $168M | $42M | 5.2x | 5.9x | 21.1x | - | |||
This data is available for Pro users. Sign up to see all Renovate America competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Renovate America
| When was Renovate America founded? | Renovate America was founded in 2008. |
| Where is Renovate America headquartered? | Renovate America is headquartered in San Diego, CA, United States. |
| Is Renovate America publicly listed? | No, Renovate America is a private, VC-backed company. |
| What is Renovate America's valuation? | Renovate America was last valued at $500M in its undisclosed-stage round in October 2015. |
| How much funding has Renovate America raised? | Renovate America has raised $144M across 3 funding rounds. |
| What was Renovate America's last funding round? | Renovate America's last funding round was a $90M undisclosed-stage round in October 2015, led by DFJ Growth. |
| Who are Renovate America's investors? | Renovate America's investors include Valor Equity Partners, Rockport Capital, Silver Lake, Macquarie Asset Management, Spring Creek Investment Management, DFJ Growth, 400 Capital Management and Spring Creek Group. |
| Which companies are comparable to Renovate America? | Companies comparable to Renovate America include NYAB, Chestnut Carbon, JinkoSolar, HIF Global, Fulcrum Bioenergy and Array Technologies. |
| How many companies has Renovate America acquired? | Renovate America has acquired 1 company, including CakeSystems. |
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