Companies · Other Energy

Sunnova Energy International Inc.

Houston · Other Energy

Diligence memoA one-page analyst read on Sunnova Energy International Inc. — recommendation, valuation, rhythm, risks.
$240.0M
Total raised · real
2
Rounds
3.4×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Wed May 13 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Sunnova Energy International Inc. looks fair 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 energy sector profile.

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

Fair
  • Modeled value is 1.32× the median modeled value of Series D+ Other Energy companies in 2019–2021 (10 peers) — value vs value, same stage and era.
  • Within the normal band (132% of peer median) for its niche.
Dormant
  • Last raise 6.1 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.
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 Other Energy

Sunnova Energy International Inc. is one of 2048 Other Energy companies tracked from Houston. By capital raised it ranks among the largest (ahead of 98% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(c)
Reg D exemption
16
Investors (latest)
2019
Year incorporated
2020-05-13
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$1.3B$2.5B$3.8B$5.0BSeries C · 2019-12-20 Raised $55M (real) Modeled valuation $659M (est)$55M$659MSeries C2019Series D+ · 2020-05-13 Raised $185M (real) Modeled valuation $2.2B (est)$185M$2.2BSeries D+2020+$185MCumulative $240M

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
Series C$55.0M · 2019
Series D+$185.0M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$2.2B
Base estimate est.
$995.9M
Conservative case
$4.9B
Upside case
$1.5B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series C · modeled $658.6M · 2019-12-202019Series D+ · modeled $2.2B · 2020-05-132020
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
81%
Survival probability
65% low · 89% high
1.10×/yr
Annual markup
1.24×/yr upside case
6.0 yr
Elapsed time used
6.1 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$604.6M/yr
Capital velocity
6.5 yr
On record since
2019
First round
2
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. 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) 70× above median
This company$240.0M
Sector median$3.4M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.8× above median
This company$185.0M
Sector median$105.3M
Modeled value — vs sector median (estimate, all stages) 131× above median
This company$2.2B
Sector median$17.0M

Raised more than 98% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #4 of 10.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0M$1.0BCapital raised (log)Coal Conversion Ventures, LLC · Series D+ Raised $400.0M · modeled $4.8B (est)Texas Eastern Transmission Lp · Series D+ Raised $300.0M · modeled $3.5B (est)Sion Power Corp · Series D+ Raised $310.3M · modeled $2.5B (est)Syncwatt, Inc · Series D+ Raised $150.0M · modeled $1.8B (est)Renew Energy Efficiency Projects 3 LLC · Series D+ Raised $130.0M · modeled $1.6B (est)Ambri Inc. · Series D+ Raised $211.1M · modeled $1.6B (est)CleanCapital Holdings LLC · Series D+ Raised $124.2M · modeled $1.4B (est)Ample, Inc. · Series D+ Raised $255.3M · modeled $317.8M (est)Fulcrum Bioenergy Inc · Series D+ Raised $255.1M · modeled $60.0M (est)Sunnova Energy International Inc. (this company) Raised $240.0M · modeled $2.2B (est)Sunnova Energy International Inc.
CompanyStageRaised · realValue · estvs peer med.
Coal Conversion Ventures, LLCSeries D+$400.0M$4.8B2.86×
Texas Eastern Transmission LpSeries D+$300.0M$3.5B2.09×
Sion Power CorpSeries D+$310.3M$2.5B1.51×
Sunnova Energy International Inc. this companySeries D+$240.0M$2.2B1.32×
Syncwatt, IncSeries D+$150.0M$1.8B1.07×
Renew Energy Efficiency Projects 3 LLCSeries D+$130.0M$1.6B0.93×
Ambri Inc.Series D+$211.1M$1.6B0.92×
CleanCapital Holdings LLCSeries D+$124.2M$1.4B0.82×
Ample, Inc.Series D+$255.3M$317.8M0.19×
Fulcrum Bioenergy IncSeries D+$255.1M$60.0M0.04×
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.
Series C$55.0M2019-12-20$366.7M$658.6M90%
Series D+$185.0M2020-05-13$1.5B$2.2B90%
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. Series C$55.0M2019-12-20
    • First recorded raise — entered as Series C.
    • 7 investors on this round.
  2. Series D+$185.0M2020-05-13
    • Came back fast: 5 mo vs the ~12 mo sector norm.
    • Round 3.4× larger than the prior — scaling up.
    • 16 investors on this round.
Intelligence
2020 ~Q4
Modeled next raise · ~5mo cadence
$555.0M
Modeled next size est.range $360.8M$888.0M
3.4×
Last step-up
$604.6M/yr
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
William J. Berger2 other2019-12
Anne Slaughter Andrew1 other2019-12
C. Park Shaper1 other2019-12
Michael C. Morgan1 other2019-12
Walter A. Baker1 other2019-12
Doug Slaughter Kimmelman2019-12
John T. Santo Salvo2019-12
Kris W. Hillstrand2019-12
Mark Slaughter Longstreth2019-12
Matthew Slaughter DeNichilo2019-12
Meghan L. Nutting2019-12
Michael P. Grasso2019-12
Rahman Slaughter D'Argenio2019-12
Robert L. Lane2019-12
Scott D. Steimer2019-12
Scott Park Steimer2020-05
Stuart D. Allen2019-12
Registry & provenance

Sunnova Energy International 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
1772695
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
Sunnova Energy CorpOther EnergySeries D+$245.2M$2.1Bnetwork4 shared operators · same sector · same stage
Eckard Land & Acquisition, LLCOther EnergySeries D+$240.0M$2.9Bsame sector · same stage
Dynegy Holdings IncOther EnergySeries D+$235.0M$2.8Bsame sector · same stage
Tendril Holdings, LLCOther EnergySeries D+$246.3M$442.8Msame sector · same stage
Quanta Services IncOther EnergySeries D+$246.4M$3.0Bsame sector · same stage
Greig Companies, Inc.Other EnergySeries D+$250.0M$3.0Bsame sector · same stage
Deep Fission, Inc.Other EnergySeries D+$230.0M$559.6Msame sector · same stage
Ample, Inc.Other EnergySeries D+$255.3M$317.8Msame 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
Sunnova Energy CorpOther EnergySeries D+$2.1B99%
Sunverge Energy, Inc.Other EnergySeries A$10.6M90%
Sunwealth Power, Inc.Other EnergySeries A$6.8M90%
Sunland America, Corp.Other EnergyPre-Seed$2.0M89%
Sunrock Distributed Generation Inc.Other EnergySeries A$66.5M89%
SunGas Renewables Inc.Other EnergySeries B$125.7M87%
Sunshine Silver Mining & Refining CorpOther EnergySeries B$292.3M87%
SolarCommunities, Inc.Other EnergySeed$13.2M87%
Frequently asked
How much funding has Sunnova Energy International Inc. raised?
Sunnova Energy International Inc. has raised approximately $240.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Sunnova Energy International Inc.'s estimated valuation?
Provath's modeled valuation for Sunnova Energy International Inc. is approximately $2.2B (modeled range $995.9M–$4.9B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sunnova Energy International Inc. at?
Sunnova Energy International Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed May 13.
What does Sunnova Energy International Inc. do and where is it based?
Sunnova Energy International Inc. operates in the Other Energy sector, based in Houston.
Explore related

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

Is this your company?

If you work at Sunnova Energy International Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.