Palmetto was founded in 2009 by Christopher Kemper. While the company has not publicly endorsed plans to participate in an IPO, Chamath Palihapitiya, founder and CEO of Social Capital, said in 2022 that Palmetto may be looking at “a monster IPO sometime soon-ish."
Palmetto is a clean energy marketplace whose technology allows consumers to source affordable renewable energy. The company has raised more than $500 million in venture capital funding from investors including TPG Rise, Social Capital, ArcTern Ventures, Gaingels, Lerer Hippeau, and MacKinnon, Bennett & Co. The company was valued at more than $1 billion in 2022.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
02/24/2022 | Series C-2 | $51.74MM | $xx.xx | $103.44B | Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital | |
Price per Share
$xx.xx
Shares Outstanding
7,060,128
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital
|
||||||
02/24/2022 | Series C-1 | $129.26MM | $xx.xx | $103.44B | Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital | |
Price per Share
$xx.xx
Shares Outstanding
17,640,047
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital
|
||||||
02/24/2022 | Series C | $194MM | $xx.xx | $103.44B | Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital | |
Price per Share
$xx.xx
Shares Outstanding
37,053,937
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arctern Ventures, Gaingels, Lerer Hippeau, Mkb, Social Capital
|
||||||
08/03/2020 | Series B | $44MM | $xx.xx | $12.67B | Arctern Ventures, Box Group, Evergy Ventures, Falkon Ventures, Greycroft, Lerer Hippeau, Leto Family Office, Shell Ventures | |
Price per Share
$xx.xx
Shares Outstanding
22,120,479
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Arctern Ventures, Box Group, Evergy Ventures, Falkon Ventures, Greycroft, Lerer Hippeau, Leto Family Office, Shell Ventures
|
||||||
09/04/2018 | Series A | $4.29MM | $xx.xx | $1.43B | Box Group, David Stern, Greycroft, Lerer Hippeau | |
Price per Share
$xx.xx
Shares Outstanding
6,532,461
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Box Group, David Stern, Greycroft, Lerer Hippeau
|