Powur PBC Raises $1,100,000 Preferred Financing Round
Powur PBC, the first 100% sustainable energy direct sales public benefit corporation, has successfully completed a $1,100,000 preferred financing round led by Tech Coast Angels (TCA), one of the largest and most prominent angel investment organizations in the U.S.
What Earned The Startup Their Raise?
Powur has built the first nationwide network of direct selling entrepreneurs accelerating the shift towards sustainable energy. This most recent successful financing for the startup brings the total investment in the company to $2,550,000.
An “ability to raise financing across a wide spectrum of investors demonstrates the viability of this business model,” says Powur CEO and Founder Jonathan Budd. The startup feels confident about the future of their social business model and the relationships they have built with investors.
Dean Rosenberg, lead investor representing TCA said, “It is rare that we see a company and team as committed to both profit and mission.” The investment group believes Powur will be able to accelerate the adoption of solar and sustainable energy around the world, by positioning itself as the “network marketing category leader for clean and sustainable energy.”
The Business Model
Headquartered in San Diego, California, Powur is pioneering the renewable energy/efficiency product category inside the $170 billion annual direct selling industry. The company’s first partnership is with the world’s #1 solar energy provider, SolarCity, which provides renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills.
The startup proprietary software platform offers a first-to-market tool suite enabling direct sales distributors to engage in the fast-growing clean energy industry. This tool suite allows distributors to invite customers through a variety of channels, track customers through the sales cycle, build a sales organization for commission overrides, get key reporting metrics to monitor and grow their organization, and receive extensive direct sales training. Powur is currently serving customers in 19 U.S states with expansion into Mexico on the horizon.