Reuters: Private Equity: Solar start-up Sunrun raises $60 million

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Solar start-up Sunrun raises $60 million May 23rd 2012, 18:05 Wed May 23, 2012 2:05pm EDT May 23 (Reuters) - Solar power company Sunrun said it raised $60 million from a group of investors led by Madrone Capital Partners to help the start-up develop software needed to cut costs and simplify the installation process for customers. The company uses a solar leasing business model that allows homeowners to install solar panels on their rooftops with no down payment. Instead, homeowners make monthly payments for the power they use. Madrone Capital -- affiliated with the Walton family, which founded Wal-Mart Stores Inc -- was joined by existing Sunrun investors Accel Partners, Sequoia Capital and Foundation Capital. Sunrun, which said it has more than 20,000 customers, has raised about $145 million in financing till date.

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