Sofdesk secures $3M Series A from EnerTech and BDC Capital

Sofdesk Inc., a Montreal based emerging software company that helps reduce soft costs in multiple markets for Solar and Roofing installation and Utility Customers, has raised $3 million in Series A funding led by EnerTech Capital of Philadelphia and Toronto, along with co-investor, BDC Venture Capital Industrial, Clean and Energy (ICE) Technology Venture Fund.

Wally Hunter, Managing Director of EnerTech Capital, and Tony Van Bommel, Senior Managing Partner of BDC Capital ICE Fund, have joined Sofdesk board.

Sofdesk main product lines currently include SaaS-based software platform for solar installers (Solargraf) as well as a SaaS application for roofing companies to source new business (Roofgraf). The company is also developing software solutions for future platforms including the Insurance and Utility sectors.

“We are pleased to back this young, innovative and very entrepreneurial team. With limited capital to date, they have demonstrated the ability to grow their business and have built a customer base of over 617 solar installers and have developed a strong positioning of their software products in multiple markets. This round of financing will help the company expand and scale its software data platform into these new markets and build on their existing management team. Our investment in Sofdesk represents our 12th investment in EnerTech IV and the company has great synergies with many of our Strategic LP’s and existing portfolio companies,” commented Hunter.

“The BDC Capital ICE fund is pleased to support an extremely talented team of young entrepreneurs in the high growth solar industry as Sofdesk now has received the capital to rapidly expand its footprint across North America,” added Van Bommel.

“We are thrilled with the traction that Sofdesk has gained in such a short period of time and I believe that with this recent round of financing, our ability to grow the company will increase significantly across our respective markets. The innovative mix of our unique sales acceleration solutions, combined with a highly talented team and experienced value added investors EnerTech & BDC Capital, Sofdesk will be well positioned for growth,” said Lennie Moreno, CEO of Sofdesk.

photo credit: Sofdesk

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.