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§ Private Profile · San Francisco, CA, USA
Fintech carbon offtake platform unlocking funding for decarbonization projects for developers, corporations, and financial institutions.
Evergrow has raised $14.0M across 2 funding rounds.
Key people at Evergrow.
Evergrow has raised $14.0M in total across 2 funding rounds.
Based in San Francisco, California, Evergrow is a financial technology platform that provides funding for decarbonization projects by structuring long-term carbon offtake agreements. The company partners with project developers, corporations, and financial institutions to secure carbon credit purchase contracts that accelerate the development of clean energy initiatives. Operating with a workforce of 28 employees, the enterprise generates approximately $5.8 million in revenue while working toward a stated objective of supporting the avoidance, reduction, or removal of one gigaton of carbon dioxide equivalent emissions by 2030. Evergrow has raised $14 million in total funding to date, including a $7 million seed round backed by prominent venture capital firms such as XYZ Venture Capital, Congruent Ventures, and First Round Capital. The organization was established by co-founders James Richards and Luke Whiting, though its exact founding year is undisclosed.
Evergrow is a San Francisco-based fintech company that provides an end-to-end platform for monetizing clean energy tax credits, primarily for commercial and industrial (C&I) solar PV and battery storage projects.[1][2][3] It serves project developers, property owners, corporations, and financial institutions by acting as a single point of contact to match sellers of tax credits with buyers, conducting comprehensive diligence, and guaranteeing funding to lower financing barriers and accelerate clean energy deployment.[1][2][4] This solves the high transaction costs and complexities that historically hinder community-scale clean energy projects, enabling more resilient grids and supporting decarbonization amid rising demands from AI, EVs, and manufacturing.[1][3] With $14M in total funding (including a $7M round in 2023), over $150M in projects on its platform, and 28 employees generating $5.8M in revenue, Evergrow demonstrates strong growth momentum in the climate tech space.[3]
Evergrow was founded in 2021 by James Richards, sparked by his personal investment in a solar energy project on a Los Angeles public high school, where he exchanged capital for tax credits and witnessed firsthand the financing challenges for community-scale clean energy.[1] The team combines expertise in AI, clean energy project finance, product design, and technology, with notable advisors and backers including leaders from Skyview Ventures, Living Carbon, Charm Industrial, Twitch, Brex, Bridgewater Associates, and Instacart.[1][3] Early traction built on this insight, evolving into a technology-driven platform backed by top-tier VCs, culminating in a 2023 funding announcement highlighting over $150M in projects.[3]
Evergrow rides the clean energy financing boom, fueled by U.S. tax credit expansions like the Inflation Reduction Act, which amplify incentives for solar, storage, and decarbonization amid surging electricity needs from AI data centers, EV infrastructure, and reshoring manufacturing.[1][3] Timing is ideal as grid resilience and community-scale projects gain urgency, with market forces like high interest rates and capital constraints favoring tech-enabled monetization over traditional finance.[1][2] By democratizing access to tax credits, Evergrow influences the ecosystem, enabling more projects, partnering with corporations for sustainability goals, and shaping policy—positioning it as a key enabler in the shift to a carbon-neutral economy.[1][3][4]
Evergrow is poised to scale rapidly as tax credit volumes explode, potentially expanding beyond C&I solar/storage into broader renewables and international markets while leveraging AI for even faster diligence.[1][3] Trends like AI-driven energy demand and corporate net-zero mandates will propel growth, with platform effects amplifying its network to dominate clean energy fintech.[2][3] Its influence may evolve from niche monetizer to ecosystem orchestrator, powering the clean energy buildout that defines the decade—lowering barriers today to fund tomorrow's grid.
Key people at Evergrow.
Evergrow has raised $14.0M across 2 funding rounds. Most recently, it raised $7.0M Other Equity in April 2023.
Evergrow has raised $14.0M in total across 2 funding rounds.
Evergrow's investors include Congruent Ventures, Bill Trenchard, Garuda Ventures, XYZ Venture Capital, Peter Reinhardt, Erica Dorfman, Jayni Shah, Justin Kan, Lauren Farleigh, Sierra Peterson, Acrew Capital, Alt Capital.
