Foley Hoag LLP represented Energetic Insurance in its $2.7M seed investment led by Congruent Ventures, with participation from Clocktower Ventures and Powerhouse Ventures. The seed financing brings Energetic Insurance’s total funding to over $4M.
Energetic Insurance, a Managing General Underwriter (MGU) headquartered in Boston, uses a combination of analytical methodology, business process, and software to evaluate and price the probability of solar customers defaulting on their contractual payments. The company offers an insurance solution that addresses a longstanding barrier to growth in the commercial solar sector by covering default risk for payments made by businesses without a public credit rating who purchase electricity through long-term power purchase agreements.
Foley Hoag attorneys Mark Barnett, Sara Mattern and Anna Snook advised Energetic Insurance in the financing.