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Tigo Energy,® a specialist in SmartModule™ technology for photovoltaic (PV) solar installations, announced that it has raised $18 million in additional financing, bringing the total company funding in excess of $50 million.

Led by Bessemer Venture Partners, the investment will enable Tigo Energy to accelerate growth, expand manufacturing and focus on international sales to take advantage of the strong market demand for Tigo Energy-enabled SmartModules from the industries’ leading PV module brands. Bessemer Venture Partners was joined by all existing investors to complete the capital infusion. As a result of the investment, Umesh Padval, a partner in Bessemer’s Menlo Park, Calif., office, will join the Tigo Energy Board of Directors.

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