Arborview Capital, a Chevy Chase-based growth equity firm, led a $7.2 million round in Series A funding for Perch Energy, a clean energy technology and services company in Boston.
Perch will use the funds to add talent and resources to build upon its industry-leading community solar services and management platform, expand its innovative direct-to-consumer energy platform, and accelerate the growth of its community solar services business into an expanding list of U.S. markets.
To date, Perch has delivered more than $9.7 million in customer savings by enabling more than 8,100 community solar subscriptions for homes, businesses, and municipalities. The company, which was spun off from BlueWave Solar, is a trusted resource to the solar industry with an established customer and revenue base. Perch offers a diverse set of products and services for the management of community solar projects as well as for homeowners, renters, and businesses seeking cost-effective choices for supporting clean energy.
On Tuesday, Perch announced energy and technology industry executive Bruce Stewart as its new CEO. With decades of experience driving strong and sustainable business growth and delivering superior customer services with both energy and technology companies, Stewart is committed to bringing affordable, clean energy solutions to more people.
Before joining Perch, Stewart served as president at Direct Energy Home, and co-president of Centrica US Holdings, where he led the successful sale of Direct Energy to NRG for $3.6 billion in January 2021. He has also held executive positions with GE Current and Constellation Energy, and prior to that at Yahoo!.
Throughout his career, Stewart has been a proponent of using data-driven analytics and insights to scale businesses in multiple industries facing dynamic market shifts, regulatory change, and competitive disruption.