What is Span?
SPAN provides advanced smart electrical panels designed to reduce energy consumption through intelligent features and sophisticated design. Their product suite encompasses various electrical panel models, electric vehicle (EV) charging solutions, and a dedicated home application for real-time energy monitoring. SPAN targets a broad audience including homeowners, electricians, HVAC and solar installers, builders, and utility companies, aiming to facilitate seamless electrical upgrades and deliver valuable energy insights. The company prioritizes safety and compatibility with existing battery systems, positioning itself as a leader in contemporary electrical solutions.
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 Capricorn Investment Group, ArcTern Ventures, and Incite Ventures
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, Qualcomm Ventures, Congruent Ventures, and Wellington Management
Key Investors in Span
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry (property technology or "proptech"). They connect the world's largest owners and operators of real estate with technology entrepreneurs redefining the future of the physical environment.
Capricorn Investment Group
Capricorn Investment Group is a Palo Alto-based investment firm managing diversified portfolios with a strong focus on sustainable, climate, and impact investments, backing companies addressing global environmental and social challenges.
Qualcomm Ventures
Qualcomm Ventures is a global corporate venture firm investing in early to growth stage technology companies, providing access to leading technology, domain expertise, and a robust network to help companies scale effectively.
What's next for Span?
The substantial enterprise-level funding and recent strategic investment indicate a strong growth phase for Span. This capital infusion is likely to accelerate product development, expand market reach, and enhance manufacturing capabilities. With a focus on smart home technology and energy efficiency, Span is well-positioned to capitalize on the increasing demand for intelligent and sustainable energy solutions, further solidifying its market leadership in the smart electrical panel sector.
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