Led by Clean Energy Ventures, the investment will enable enhanced product development and scaling to meet the demands of the high growth residential solar market
Bodhi, a software technology company that has built the solar industry’s first fully customized customer experience platform, today announced the closing of $4 million in financing led by Clean Energy Ventures, a venture capital firm funding early-stage climate tech innovations. The funding will enable Bodhi to dramatically expand its team across engineering, sales and marketing, and operations, while continuing to accelerate its product development roadmap.
The U.S. residential solar market has benefited from record-breaking growth making up more than half of all the renewable energy capacity added in 2021. This has coincided with blackouts in states such as Texas – Bodhi’s own backyard – where there has been an uptick in residential solar installations with the forecast expected to nearly double.
However, customer experience remains a barrier to, rather than an opportunity for, expanded solar installation, imposing higher customer acquisition costs. With Bodhi’s unique platform, solar installers can integrate their CRMs and other operational tools to create engaging customer experiences and automate communications, tracking not only design and installation but also post-commissioning performance and cost savings. With this new approach, Bodhi has improved operations and sales upwards of 50% for its customers, which include SunCommon and A.M. Sun Solar, while also helping homeowners save over $3 million in utility bills and offset 36,000 tons of CO2 every year.
“Over the decades, hard costs facing the solar industry have dropped tremendously, but what we’ve noticed is that customers are still hesitant about making the leap to solar,” said Daniel Goldman, Co-Founder and Managing Partner of Clean Energy Ventures. “Our investment in Bodhi is premised on the potential to make consumer solar purchases seamless, hassle-free and end-to-end. Bodhi’s platform is designed to alleviate all customer pain points in the installation process and post-installation monitoring, removing the last remaining barriers to greater solar adoption.”
The next stage of growth for Bodhi will include expanded product and service offerings for their customers through a wide range of channel partners to offer to homeowners beyond just solar.
“Predominantly, climate solutions have always been focused on the engineering and technology while the relationship between the technology and the people that use it remain orphaned,” says Scott Nguyen, Co-founder and CEO of Bodhi. “We started Bodhi to focus on the customer experience, and our work in solar is just the start. As consumers adopt more energy products and services, Bodhi will be there to help them play a key role in catalyzing the residential clean energy transition.”
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About Bodhi
Bodhi is an Austin-based clean energy software company with the mission to cultivate the bond between people and the energy that powers their lives. Using behavioral science, design thinking, and data automation, Bodhi empowers growing solar companies to focus on what they do best: executing projects, making more sales, and transforming communities around energy. To learn more about Bodhi, visit bodhi.solar.
