What is Groundswell?
Groundswell Community Power is dedicated to enhancing community resilience and alleviating energy costs for underserved families. Through a strategic combination of community solar projects, the establishment of resilience hubs, and the implementation of energy efficiency programs, the organization aims to deliver substantial energy savings. By 2030, Groundswell has set an ambitious goal to provide over $29 million in annual energy savings to 36,000 households across the Heartland, Mid-Atlantic, and Southeast regions. Their work not only focuses on tangible benefits for communities but also on fostering local economic development. The company leverages the SolMate data platform to optimize participation in energy-saving initiatives and rigorously measure their impact.
How much funding has Groundswell raised?
Groundswell has raised a total of $15.4M across 3 funding rounds:
Debt
$150K
Debt
$225K
Angel/Seed
$15M
Debt (2020): $150K with participation from PPP
Debt (2021): $225K led by PPP
Angel/Seed (2021): $15M supported by Core Innovation Capital, Moonshots Capital, Felicis Ventures, Human Ventures, and GV
Key Investors in Groundswell
Core Innovation Capital
Core Innovation Capital is a venture capital firm specializing in early-stage technology businesses that aim to improve wealth and health for the mass market. They support founders modernizing everyday life, focusing on financial security and innovation in the fintech sector.
Moonshots Capital
Moonshots Capital, founded by military veterans, provides capital and operational experience to help world-changing companies grow. They invest in ventures leveraging their entrepreneurial and military backgrounds.
Felicis Ventures
Felicis Ventures is a venture capital firm that invests in early and growth-stage technology companies across sectors like SaaS, AI, fintech, and consumer, often leading seed and Series A rounds.
What's next for Groundswell?
The substantial enterprise-level funding indicates Groundswell is poised for significant scaling and expansion of its impactful programs. With a clear roadmap to achieve widespread energy savings and community support, the company is likely to invest in further developing its SolMate data platform, expanding its operational reach into new regions, and forging new partnerships. This strategic backing will be crucial in accelerating their mission to create more resilient and economically stable communities through accessible clean energy solutions. The focus on tangible savings and community development positions Groundswell as a key player in the impact investing landscape.
See full Groundswell company page
