Companies · Climate / Cleantech

Solar Topco, Inc.

SAN FRANCISCO · Climate / Cleantech · refined from filed group “Other

Diligence memoA one-page analyst read on Solar Topco, Inc. — recommendation, valuation, rhythm, risks.
$418.7M
Total raised · real
1
Rounds
Latest step-up
Top 8%
Sector rank · raised
Growth/Late
Latest stage · inferred · Thu Dec 19 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Solar Topco, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.56× the median modeled value of Growth/Late Climate / Cleantech companies in 2019–2021 (6 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.5 yr ago; this sector typically re-raises about every 9 months.
  • Only one round on record and long silent — often defunct, acquired, or gone quiet.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Climate / Cleantech

Solar Topco, Inc. is one of 207 Climate / Cleantech companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 93% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

climate/cleantech

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
18
Investors (latest)
2019
Year incorporated
2019-12-19
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$5.0B$10.0B$15.0B$20.0BGrowth/Late · 2019-12-19 Raised $419M (real) Modeled valuation $10.9B (est)$419M$10.9BGrowth/Late2019

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Growth/Late$418.7M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C, Series D+ — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 14%.

Modeled valuation trajectory
$10.9B
Base estimate est.
$3.0B
Conservative case
$19.6B
Upside case
$4.2B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
72% low · 89% high
1.21×/yr
Annual markup
1.32×/yr upside case
6.0 yr
Elapsed time used
6.5 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
6.5 yr
On record since
2019
First round
1
Rounds on file
How it compares to the market

Benchmarked against 207 companies in Climate / Cleantech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 52× above median
This company$418.7M
Sector median$8.1M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.6× of median
This company$418.7M
Sector median$700.0M
Modeled value — vs sector median (estimate, all stages) 182× above median
This company$10.9B
Sector median$59.8M

Raised more than 93% of sector peers (real $). Modeled value above 96% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 6.

This companyCohort peer
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)WestPort Acquisition Parent, LP · Growth/Late Raised $2.0B · modeled $49.1B (est)Uber Technologies, Inc · Growth/Late Raised $7.1B · modeled $23.1B (est)E2open Parent Holdings, Inc. · Growth/Late Raised $895.0M · modeled $20.7B (est)Samsara Networks Inc. · Growth/Late Raised $915.0M · modeled $18.2B (est)AIT Group Holdings, LP · Growth/Late Raised $699.5M · modeled $15.7B (est)Solar Topco, Inc. (this company) Raised $418.7M · modeled $10.9B (est)Solar Topco, Inc.
CompanyStageRaised · realValue · estvs peer med.
WestPort Acquisition Parent, LPGrowth/Late$2.0B$49.1B2.52×
Uber Technologies, IncGrowth/Late$7.1B$23.1B1.19×
E2open Parent Holdings, Inc.Growth/Late$895.0M$20.7B1.07×
Samsara Networks Inc.Growth/Late$915.0M$18.2B0.93×
AIT Group Holdings, LPGrowth/Late$699.5M$15.7B0.81×
Solar Topco, Inc. this companyGrowth/Late$418.7M$10.9B0.56×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Growth/Late$418.7M2019-12-19$4.2B$10.9B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Growth/Late$418.7M2019-12-19
    • First recorded raise — entered as Growth/Late.
    • 18 investors on this round.
Intelligence
Modeled next raise
$669.9M
Modeled next size est.range $435.5M$1.1B
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Patrick M. Severson8 other2019-12
DAVID W. BONNETTE2 other2019-12
BRIAN W. LORING2019-12
Registry & provenance

Solar Topco, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1797844
SEC CIK
2019
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Brave Topco, Inc.Climate / CleantechGrowth/Late$690.6M$12.3Bnetwork1 shared operator · same sector · same stage
Carbon Analytics Holdings LLCClimate / CleantechGrowth/Late$662.5M$17.2Bsame sector · same stage
Burgundy Topco, LLCOtherSeries D+$254.4M$18.8Mnetwork2 shared operators
Ascend Elements, Inc.Climate / CleantechGrowth/Late$692.7M$6.6Bsame sector · same stage
AIT Group Holdings, LPClimate / CleantechGrowth/Late$699.5M$15.7Bsame sector · same stage
Project Essential Topco, Inc.OtherGrowth/Late$533.3M$8.7Bnetwork1 shared operator · same stage
Wrangler Topco, LlcOtherGrowth/Late$569.2M$10.1Bnetwork1 shared operator · same stage
E2open Parent Holdings, Inc.Climate / CleantechGrowth/Late$895.0M$20.7Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Solar Holdco, Inc.Climate / CleantechGrowth/Late$18.0B92%
Complete Solar, Inc.Climate / CleantechSeries A$244.6M89%
Target Solar, LLCClimate / CleantechPre-Seed$10.1M86%
Solar Tech Energy Systems, Inc.Other EnergySeed$4.0M86%
Solar Transport Systems Inc.Climate / CleantechPre-Seed$1.7M85%
Aurora Solar Inc.Climate / CleantechSeries D+$3.5B85%
FTC Solar, Inc.Other EnergySeries A$52.7M84%
Conductor Solar, Inc.Climate / CleantechPre-Seed$1.9M84%
Frequently asked
How much funding has Solar Topco, Inc. raised?
Solar Topco, Inc. has raised approximately $418.7M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Solar Topco, Inc.'s estimated valuation?
Provath's modeled valuation for Solar Topco, Inc. is approximately $10.9B (modeled range $3.0B–$19.6B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Solar Topco, Inc. at?
Solar Topco, Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Thu Dec 19.
What does Solar Topco, Inc. do and where is it based?
Solar Topco, Inc. operates in the Climate / Cleantech sector, based in SAN FRANCISCO.
Explore related

See where Solar Topco, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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