About Palmetto
Palmetto is a company based in Charleston (United States) founded in 2009 by Christopher Kemper.. Palmetto has raised $670.36 million across 14 funding rounds from investors including Truist, Morgan Stanley and Social Capital. Palmetto offers products and services including Solar Panels, HVAC Energy Advisor, Retail Energy Plans, LightReach Solar Lease, and Energy Intelligence API. Palmetto operates in a competitive market with competitors including neoom, UrbanVolt, Solteo, Norwich Technologies and Unisolar Power, among others.
- Headquarter Charleston, United States
- Founders Christopher Kemper
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Sectors
Energy & Utilities
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Email
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Phone
*********
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Website
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Social
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- Legal Name Palmetto Solar, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$670.36 M (USD)
in 14 rounds
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Latest Funding Round
$1.2 B (USD), Debt – Conventional
Jan 17, 2025
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Investors
Truist
& 16 more
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Employee Count
Employee Count
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Products & Services of Palmetto
Palmetto offers a comprehensive portfolio of products and services, including Solar Panels, HVAC Energy Advisor, Retail Energy Plans, LightReach Solar Lease, and Energy Intelligence API. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Service for purchasing and installing solar panels to reduce home energy costs.
Tool for optimizing home heating and cooling systems for efficiency.
Plans for energy subscriptions and comparisons to lower utility bills.
Lease option for solar systems without maintenance or installation costs.
API for businesses to integrate energy data and optimize operations.
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Funding Insights of Palmetto
Palmetto has successfully raised a total of $670.36M across 14 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $1.2 billion completed in January 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 14
- Last Round Debt – Conventional — $1.2B
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First Round
First Round
(28 Jun 2018)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2025 | Amount | Debt – Conventional - Palmetto | Valuation |
investors |
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| Mar, 2023 | Amount | Series C - Palmetto | Valuation | The Rise Fund |
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| Feb, 2022 | Amount | Series C - Palmetto | Valuation | Social Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Palmetto
Palmetto has secured backing from 17 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Truist, Morgan Stanley and Social Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Sector-agnostic VC investment company investing globally
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Founded Year | Domain | Location | |
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US focused VC firm investing in seed & growth stage companies
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Founded Year | Domain | Location | |
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Venture capital firm focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Palmetto
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Palmetto
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Palmetto Comparisons
Competitors of Palmetto
Palmetto operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as neoom, UrbanVolt, Solteo, Norwich Technologies and Unisolar Power, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Solar-based power generation and management solutions are provided.
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| domain | founded_year | HQ Location |
Offers lighting as a service solutions
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| domain | founded_year | HQ Location |
Solar energy project portfolios are managed via SaaS software.
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| domain | founded_year | HQ Location |
Solar energy is generated by a passive snow shredder device.
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| domain | founded_year | HQ Location |
Provides solar energy solutions, including rooftop installations for residential and commercial customers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Palmetto
Frequently Asked Questions about Palmetto
When was Palmetto founded?
Palmetto was founded in 2009 and raised its 1st funding round 9 years after it was founded.
Where is Palmetto located?
Palmetto is headquartered in Charleston, United States. It is registered at Charleston, South Carolina, United States.
Who is the current CEO of Palmetto?
Christopher Kemper is the current CEO of Palmetto. They have also founded this company.
Is Palmetto a funded company?
Palmetto is a funded company, having raised a total of $670.36M across 14 funding rounds to date. The company's 1st funding round was a Series C of $375M, raised on Jun 28, 2018.
What does Palmetto do?
Palmetto was founded in 2009 in Charleston, United States, and operates in the solar energy sector. Comprehensive solar services are delivered to residential and commercial clients, including lease and purchase options for solar installations. Technology solutions are offered to support reduced dependence on traditional energy systems, with operations focused on the U.S. market.
Who are the top competitors of Palmetto?
What products or services does Palmetto offer?
Palmetto offers Solar Panels, HVAC Energy Advisor, Retail Energy Plans, LightReach Solar Lease, and Energy Intelligence API.
Who are Palmetto's investors?
Palmetto has 17 investors. Key investors include Truist, Morgan Stanley, Social Capital, Lerer Hippeau, and The Rise Fund.