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Sofdesk raises USD 5.7m and buys solar software firm

Solar on the roof. Author: Marufish. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

October 25 (Renewables Now) - Montreal-based solar and roofing business accelerator Sofdesk Inc has closed a USD-5.7-million (EUR 5.1m) funding round, days after acquiring solar software firm Energy Periscope.

On Thursday, Sofdesk said it had secured the above-mentioned investment from energy solutions maker Generac Holdings Inc (NYSE:GNRC) as lead, with participation from EnerTech, BDC Capital and Desjardins Capital.

Sofdesk is the parent of solar design software developer Solargraf and roofing measurement specialist Roofgraf. It plans to use the fresh funds to scale its AI and automation capabilities, while also extending its solar and roofing license offering to additional contractors, lenders and manufacturers.

In the past few days, Sofdesk also announced the acquisition of Energy Periscope, which enables solar installers, distributors and manufacturers to accurately design, calculate shading, quote, finance, create permits and manage jobs through web-based tools. The buyer said that this transaction will help solar workers dramatically cut their soft costs.

(USD 1.0 = EUR 0.899)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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