Total amount raised
$489.2 Millions
Latest funding date
8/1/2016
Location
Mosaic has successfully raised significant funding over multiple rounds, establishing itself as a key player in the sustainable home improvement financing sector. The platform offers flexible financing options for clean energy solutions, including solar panels, battery storage, and EV charging.
Keep reading to explore the intricacies of Mosaic's fundraising journey and the investors backing this innovative platform.
What Is Mosaic?
Mosaic, founded in 2010, is headquartered in Oakland, California. The company was established by Billy Parish and Daniel Rosen.
Specializing in financing options for sustainable home improvements, Mosaic offers solutions for solar panels, battery storage, and EV charging. Their mission is to make clean energy accessible and affordable for homeowners.
With a dedicated team of over 200 employees, Mosaic continues to innovate in the clean energy sector, providing streamlined processes and support for contractors and investors alike.
How Much Funding Has Mosaic Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial projects.
- Series B
- Amount Raised: $15M
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and product offerings.
- Grant
- Amount Raised: $1M
- Date: January 2014
- Lead Investors: Verizon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific projects and initiatives aligned with the grant's purpose.
- Venture Round
- Amount Raised: $6.5M
- Date: March 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and scale operations.
- Debt Financing
- Amount Raised: $387K
- Date: November 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and financial stability.
- Debt Financing
- Amount Raised: $450K
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and fund immediate needs.
- Debt Financing
- Amount Raised: $210K
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support short-term financial requirements.
- Debt Financing
- Amount Raised: $200M
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Mosaic's lending operations.
- Private Equity Round
- Amount Raised: $220M
- Date: August 2016
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market presence and product development.
- Private Equity Round
- Amount Raised: $40M
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: For working capital purposes.
Total Amount Raised: $483.547M. Current Valuation: Not publicly disclosed.
Key Investors
- Warburg Pincus
- Details: Warburg Pincus is a leading global private equity firm focused on growth investing. With over $60 billion in assets under management, they have a long history of supporting innovative companies.
- Investment Focus Areas: Technology, healthcare, financial services, energy, consumer and industrial sectors.
- Notable Investments: CrowdStrike, Grubhub, Avalara.
- Guggenheim Securities
- Details: Guggenheim Securities is the investment banking and capital markets business of Guggenheim Partners. They provide advisory, sales and trading, research, and financing services.
- Investment Focus Areas: Investment banking, financial services, capital markets.
- Notable Investments: Managed Mosaic's $40 million equity offer, arranged a $200 million warehouse facility.
- DZ Bank
- Details: DZ Bank is one of the largest financial institutions in Germany, serving as the central institution for more than 800 cooperative banks. They offer a wide range of financial services.
- Investment Focus Areas: Corporate banking, investment banking, asset management.
- Notable Investments: Provided a $200 million warehouse facility for Mosaic.
- NY Green Bank
- Details: NY Green Bank is a state-sponsored financial entity that works to accelerate clean energy deployment in New York State. They provide financing solutions to support sustainable projects.
- Investment Focus Areas: Clean energy, energy efficiency, renewable energy projects.
- Notable Investments: Participated in the $200 million warehouse facility for Mosaic.
- Verizon
- Details: Verizon is a global leader in communications and technology, providing a wide range of services including wireless, broadband, and digital media.
- Investment Focus Areas: Telecommunications, technology, media.
- Notable Investments: Invested $1 million in Mosaic through a grant.
What's Next for Mosaic?
With a $200 million warehouse facility and $40 million in working capital, Mosaic is poised to capitalize on the growing demand for clean energy solutions. The transition from peer-to-peer lending to balance sheet lending opens new avenues for larger financial facilities, positioning Mosaic to scale its operations significantly.
Future fundraising opportunities seem promising, given the successful capital raises and the increasing involvement of major financial institutions. However, the shift in their business model may present operational challenges, requiring strategic adjustments to manage large financial facilities effectively. As the renewable energy sector continues to evolve, Mosaic's ability to navigate these changes will be crucial for sustained growth.
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