AUSTIN, Texas--(BUSINESS WIRE)--SXSW Eco - Geostellar, the nation’s original online solar energy platform, today announced the closing of $7 million in financing led by Matador Capital Partners of Dallas. The round also included participation from Select Venture Partners, Panacea Capital, Valentis Capital and an array of angel investors and family offices. The funding will be used in part to expand Solar Family, a national program to recruit, train and support independent Solar Professionals.
“Geostellar’s low-cost business model provides a significant competitive advantage in the solar energy industry,” said Wicky el-Effendi, managing partner of Matador. “We’re excited about the company’s trajectory of rapid, sustainable growth.”
This evening, Geostellar will kick off its search for the first Solar Tycoon, the top level in the Solar Family compensation plan. As sponsors of the event, executives from the team such as John Greer, managing partner at Matador, will share advice with attendees interested in building their own businesses as independent solar entrepreneurs on the Geostellar platform.
“We are thrilled to partner with Matador to take Geostellar to the next level,” said David Levine, CEO of Geostellar. “Matador brings deep experience in both technology platforms and traditional energy markets and validates our plan to disrupt the industry by providing low-cost electricity and harnessing the entrepreneurial spirit.”
Geostellar will be holding Solar Power Happy Hour training events for property owners, Solar Professionals and partnering organizations in select markets throughout the rest of the year.
Geostellar is America’s original solar energy marketplace, with a patented instant, interactive solar profile that tailors solar equipment, installation and financing plans to best meet the unique needs of each individual household. We lower the cost of solar, making it more competitive with conventional electricity and providing homeowners with greater savings on electric bills. The result is more accessible, affordable and plentiful clean solar power for America. Solar Mojo, an app for the iPhone and iPad, is available for download. Solar Family is a social marketing program for our network of independent solar entrepreneurs. For more information, visit www.geostellar.com. Follow us on Twitter @geostellar and like us on Facebook.