What is Span?
Span offers innovative smart electrical panels designed to lower energy bills through advanced features and intelligent design. Their product lineup includes various models of electrical panels, EV charging solutions, and a home app for real-time energy management. Targeting homeowners, electricians, HVAC installers, solar installers, builders, and utilities, SPAN aims to provide seamless electrical upgrades and energy insights. The company emphasizes safety and compatibility with existing battery systems, making it a leader in modern electrical solutions. The recent major strategic investment signals a strong market validation for Span's technology and business model in the rapidly evolving energy landscape.
How much funding has Span raised?
Span has raised a total of $216.2M across 4 funding rounds:
Series A
$10.2M
Private Equity
$20M
Series B
$90M
Other Financing Round
$96M
Series A (2020): $10.2M with participation from Incite Ventures, ArcTern Ventures, and Capricorn Investment Group
Private Equity (2021): $20M led by Munich Re Ventures LLC
Series B (2022): $90M supported by Wellington Management
Other Financing Round (2023): $96M featuring Fifth Wall, Capricorn Investment Group, Congruent Ventures, Wellington Management, and Qualcomm Ventures
Key Investors in Span
Incite Ventures
Incite Ventures is an investment fund firm based in Burlingame, California, that supports mission-driven enterprises through investments.
ArcTern Ventures
ArcTern Ventures is a venture capital firm focused on entrepreneurs addressing climate change and sustainability, investing in clean energy, energy efficiency, and circular economy solutions.
Capricorn Investment Group
Capricorn Investment Group is an investment firm focused on sustainable, climate, and impact investments, managing diversified portfolios for mission-aligned investors.
What's next for Span?
With substantial backing, Span is poised for significant expansion and technological advancement. The company's focus on smart electrical solutions, including EV charging and home energy management, aligns perfectly with global trends towards electrification and sustainability. Future developments are likely to involve enhancing their intelligent energy management platform, expanding product integrations, and scaling manufacturing to meet growing demand. This strategic financing will empower Span to solidify its market position, further innovate its offerings, and potentially explore new market segments within the smart home and energy infrastructure sectors.
See full Span company page
