May 12, 2020
Arch Rao closed the $10.1 million financing round for Span, his company pitching homeowners on an upgrade to the fuse box, in the middle of February.
The company had already seen what was happening in China and had a sense of how tough things could be, but was undeterred by the bad news and its potential implications for fundraising or its business.
“I don’t think that the COVID situation was particularly negative,” for the Span business, said Rao. Indeed, Rao said things are already beginning to recover. “With the shelter in place being partially lifted [and] with solar and storage installation having been deemed essential… the large installers like SunRun saw their online sales had increased,” Rao said. “The limitation of this pandemic has been a shift of about a quarter for our upward slope to take effect.”