What is Groundswell?
Groundswell is dedicated to building community power to enhance local resilience and substantially lower electricity expenses for those in need. By implementing community solar projects, resilience hubs, and energy efficiency initiatives, the company actively works to preserve affordable housing and foster local economic development across the Heartland, Mid-Atlantic, and Southeast regions. Groundswell's tailored programs are designed to yield measurable benefits aligned with local priorities, with an ambitious objective of delivering over $29 million in annual energy savings to 36,000 families by 2030. The company also utilizes its proprietary SolMate data platform to optimize project connections and ensure the sustainability of its outcomes.
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 GV, Human Ventures, Felicis Ventures, Core Innovation Capital, and Moonshots Capital
Key Investors in Groundswell
GV
GV is a venture capital firm founded in 2001 that invests across multiple stages and sectors, focusing on enterprise solutions, life sciences, consumer products, and frontier technology innovations. The firm maintains a diverse investment portfolio spanning technology, healthcare, and various other industries.
Human Ventures
Human Ventures is an investment firm that focuses on early-stage companies, particularly those in the consumer and technology sectors. They aim to support founders building innovative solutions for everyday life.
Felicis Ventures
Felicis Ventures is a Menlo Park-based venture capital firm that raises multistage funds to invest in early and growth-stage technology companies across sectors such as SaaS, AI, fintech, and consumer, typically leading seed and Series A rounds.
What's next for Groundswell?
With the recent influx of major strategic investment, Groundswell is poised for accelerated expansion and impact. The company's focus on community solar, resilience hubs, and energy efficiency initiatives, supported by its SolMate data platform, positions it to further its mission of reducing energy costs and enhancing local resilience. This capital will likely fuel the scaling of its operations across its target regions and potentially enable the development of new programs or technological advancements to maximize energy savings for underserved communities. The enterprise-level backing suggests confidence in Groundswell's model for sustainable economic development and its capacity to achieve its ambitious savings goals.
See full Groundswell company page
