MONTREAL, Oct. 24, 2019 /PRNewswire/ - Sofdesk Inc., the Montreal based solar & roofing business accelerator just secured a $5.7M investment lead by Generac Holdings Inc. (NYSE: GNRC) ("Generac"), a leading global designer and manufacturer of energy solutions and other power products. EnerTech, BDC Capital, Desjardins Capital also joined in the company's second round of funding.
The investment will help Sofdesk to keep scaling their A.I. portfolio as well as spread their solar and roofing license offering to a larger pool of contractors, lenders and manufacturers.
"We are seeing an increasing demand for both Solargraf and Roofgraf, this investment will help us to scale our A.I. and automation capabilities as well as offer our services to many other leaders in the industry. We know the trend of all major companies is moving towards technology and we are happy to lead the way with our automated, customized web applications" said Lennie Moreno, CEO and Founder of Sofdesk.
"We're excited to invest in Sofdesk and have been impressed with their team. As we vetted numerous solar project software tools, we found Solargraf to be not only accurate and complete, but also the UI/UX was best in class in our opinion. We spoke to many current customers and the feedback was very positive," said Russ Minick, Generac's Chief Marketing Officer and Clean Energy business leader. "We look forward to accelerating the adoption of clean energy and believe Roofgraf will bring significant value to the roofing market."
"We are pleased to have Generac join us as a strategic investor in Sofdesk. We believe, Generac's strong market position in the backup power and home energy management sector will provide Sofdesk with significant insight and growth opportunities that align with their strategic direction. We are also pleased to have existing investor BDC re-join this round along with new financial investor Desjardin" said Wally Hunter, Managing Director of EnerTech Capital.
Sofdesk is an industry-leading software organization that builds intuitive sales acceleration tools for everyday use in the solar and roofing industries. By offering an end-to-end business management solution, Sofdesk empowers all size contractors, distributors, lenders and manufacturers to be competitive in these ever-growing markets and improve the scalability of their businesses through its powerful web-based platform.
Founded in 1959, Generac is a leading designer and manufacturer of energy solutions and other power products. As an industry leader serving residential, light commercial, and industrial markets, Generac's products and solutions are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.
About EnerTech Capital
EnerTech Capital is a private investment firm focused on innovation in the energy and technology industries: investing in mid-stage venture companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million through four funds and has delivered 39 exits. EnerTech Capital is continuing its strong focus on the significant energy related opportunities in North. The firm has built a significant base of Strategic Partners which includes: ENGIE, Alectra, Waste Management, Hatch, Tervita, ENMAX, E Source, NB Power, Hydro Quebec, INO, Con Edison, SMUD, Tokyo Gas and TVA.
EnerTech has offices in Toronto, Philadelphia, Montreal, Calgary, Boston, Delray Beach and San Francisco.
SOURCE Sofdesk Inc