Why does RVC pitch so many companies?

Why do we pitch so many companies?baseball-vc-pitch

I like to tell the story of the first time I filled out a questionnaire about Rockies Venture Club’s activities for the Angel Capital Association.  When I got the the question about how many companies we present each year, the choices were something like 1-3, 4-7, 8-10, 11-15, 16-20, 21-25, 25+ pitches per year.   With over 100 companies pitched in 2012 and 80 in 2013, we are off the charts!

I have a huge respect for the people I’ve met at the ACA, so I began to wonder whether we were doing something wrong.  I started looking at how the different angel groups functioned and why we were different.  Here is a summary of what I found:

1)      RVC is unique in that it serves the whole community and not just investors.   We have pitch events with 100+ people watching four pitches every month and conferences with hundreds of people watching 12 or 24 pitches.  We reach out to the community through partner groups.  If you just have a few dozen angels to depend on for your deal flow, then you won’t see a lot, but if you involve the whole community, then the deal-flow suddenly becomes significant.

2)      RVC is also unique in its focus on education.  By educating both the angel investors and the entrepreneurs, we make a smarter environment full of smart investors and savvy entrepreneurs.  This means that there are more high quality deals available than if no quality educational resources were available.  Without Pitch Academy we’ve noticed that most  (but not all) of the pitches we see are pretty flat.  They’re not only poor pitches, but the thinking behind them is often thin and poorly researched.  RVC workshops help entrepreneurs to build a solid logic to their plans, backed up by good research and hard work.  This alone is not enough to succeed, but it definitely raises the bar and puts higher quality deals in front of investors who now have the tools to really evaluate the deals that they’re looking at.

3)      You could challenge our plan to pitch roughly one in ten applicants.   “Why not just pick a few really good companies and go with them?”   There are a few problems with this challenge.  The first is that in many cases you don’t know which companies are good until you pitch them and get into due diligence.  If you just goody-pick the companies with great executive summaries all you get is companies that are good at executive summary writing.

4)      What about the 75% of RVC pitch companies who don’t get funded?  I’m often surprised about what does and what doesn’t get funded.  What I have seen is that something like two thirds of the companies that don’t get funded didn’t make it because they weren’t ready to pitch yet.  They still had homework to do in order to back up their plan and to refine their message and build a sharp strategy.  Some times these companies give up and other times they go back to the drawing board and come back six or twelve months later with a new CEO on board and the funding falls immediately into place.  Giving these companies the opportunity to pitch provides them with the perspective that they need to grow and get funded – or better yet, it teaches them how to bootstrap so that they never have to be beholden to angel or VC investors!

5)      Seeing lots of companies is the best way to build your 10,000 Malcolm Gladwell hours as an investor.  Some angel groups pitch only one company per month.  It would take one of those angels ten years to see as many deals as an RVC investor sees in a year.  Which investor do you think is going to have the ability to spot the winners from the losers?  Pattern recognition plays a big part in investing and the only way to build that is to see lots of deals.

6)      Enterpreneurs benefit by seeing lots of pitches too.  If entrepreneurs can see lots of great pitches, they get an idea for how high the bar has been set in our community.  They see what investors like and don’t like and they get to see which companies get funded and go on to do great things.  In many angel groups, the first pitch the entrepreneur sees is their own.  This is a bad way to learn how not just to pitch your company, but to build a winning strategy and team.

After thinking about it, my conclusion is that, like so many things, the best solution is to reach a balance.   It’s great to pitch a lot of companies for perspective, exposure and deal flow, but you also have to be prepared to limit the companies pitching to the ability of your entrepreneurial community to produce quality deal flow.    Right now we’re seeing 80 quality deals a year, but if things slow down, 60 might be the  right number, or if they heat up, then maybe 120!

To see a dozen great pitches – and I mean it – twelve highly investable companies – attend the 25th Rockies Venture Club Colorado Capital Conference.  #2013CCC   This even will have twelve great companies PLUS presentations from four Colorado companies that have gone big-time and had huge exits this year.  Hear from their founders and CEOs to learn how they did it and what to watch out for as either an investor or entrepreneur.

November 6-7 in Denver and Golden.  The 25th Colorado Capital Conference

Register for Investing In Tech Companies event

 

Four Tips to Know if You Have Practiced Your Pitch Enough

Practicing your pitch is one of the most important parts of presenting to a group of investors.  While some people can do a pitch with relatively little practice, no one can just wing it.  So how do you know when you’re ready to pitch and you’ve practiced enough?   Here are a few quick tips:

1)       Practice at least ten times before you pitch in front of someone else.  You should get to the point where you’re not having to think about what you’re saying – you have key phrases that you use every time.

2)      Time your pitches.  If you have more than ten seconds of variation between the pitches,  that means you’re making up new stuff each time.  Practice enough times that you can hit the same amount of time within ten seconds each time you present.

3)      Memorize your slide order.  If you have fifteen slides, you should be able to recite the titles of each of the slides in order.  This way when you’re on your “problem” slide, you’ll know that the next slide is your “solution” slide and you can transition smoothly and powerfully from one thought to the next.  Have someone quiz you for the complete order and starting at random slides so that you always know what is coming next.

4)      Be smooth even if you have distractions.  Use the TechStars method and have people throw wadded up balls of paper at you while you’re pitching.  Have someone unplug the projector and then practice dealing with that smoothly and without dropping a beat in your presentation.  Things often go wrong in a pitch, so be ready to roll with the punches.

If you do these things, your pitches will be more professional and confident and you will be better prepared to communicate your ideas most effectively to investors.

Colorado Needs More Exits

At the Esprit Entrepreneur Conference in Boulder this week a question was asked about how we can make Colorado more than a flyover state and attract more out of state investment.

Given that Boulder and Denver are in the top three cities for startups on a per-capital basis, it’s clear that we don’t have a problem with developing an entrepreneurial community  and the great high quality deal flow that comes from that.  I’m continually impressed with the ability of the Front Range ecosystem to turn out high quality companies.

But, if we want to attract more out of state investors, we need to have more Colorado exits that we can celebrate and make public.  This year has been a great year for Colorado exits with the IPOs from Noodles & Company and Rally Software.  Both companies have more than doubled since their IPOs and are doing great.  We’ve also had a number of great $100 million plus acquisitions including LineRate and NexGen Storage.

Colorado needs to get the word out more about these great exits.  We’re well known for startups, but investors know that without exits, there is no way to get their money back.  In short, exits are what investors care about.  When investors see that our community is sophisticated and is thinking about how to best position ourselves for exit, even if it is an acquisition by an out-of-state firm,  that there is a greater chance of attracting those coastal dollars to Colorado.

Rockies Venture Club is celebrating Colorado Exits with its 25th Colorado Capital Conference November 6th and 7th, 2013.  www.coloradocapitalconference.org  We will be hosting twelve great startups whose pitches will ALL include a description of their exit strategy so that investors know how they will get their investment back.  The theme of the conference is Steven Covey’s Second Habit of Highly Successful People – “Begin with the End in Mind.”

We will also have speakers from the top companies who have had exits this year who will tell us how they positioned themselves, how they decided on IPO vs. acquisition, and when they actively started the exit process.  The fact that the founders are still with the companies shows that an “exit” is really a liquidity event where money is returned to investors, not an actual exit where the founders leave a company.  This year’s CCC is a must-attend event for investors and entrepreneurs alike.

Do YOU Have What It Takes To Exit? Find out at the Colorado Capital Conference

You think you can sell your company? Learn from those who have done it at 2013 CCC next week!

 

The entrepreneur’s dream: starting from scratch, building something significant, and creating value for everyonesuccess-next-exit on your side. Maybe that means holding on to a business you could retire on or pass down to your family. If you’re in the VC world, taking on investors means you are expected to cash out, hopefully for far more than was invested. Acquisitions and IPOs are great, but why doesn’t it happen more often? A successful exit can be a rising tide that lifts the boats around it – why do so few entrepreneurs actually make it? Beyond a little luck, what does it take to get there?

I don’t know all the answers to these questions. If I did, I might be taking a yacht to the island I just bought to relax for the rest of my life. More likely, I would be looking for the next masochistic opportunity to work really hard at something for no cash for years, in order to do it all over again. I haven’t exited a company (yet) so I can’t tell you the secrets from experience. Thankfully, a few serial entrepreneurs who have been through it all will share their minds on the subject at the Colorado Capital Conference November 6th and 7th.  This year’s theme is “begin with the end in mind” – Habit #2 of Stephen Covey’s 7 Habits of Highly Effective People.

Here are this year’s speakers, who together have built billions of dollars in value in Colorado:

Ryan Martens, Founder and Chief Technology Officer of Rally Software. The Boulder Colorado-based company, which specializes in agile project management software, priced its 6 million shares at $14, raising $84 million at a valuation of $315 million which has more than doubled since it’s IPO earlier this year.

John Spiers, CEO and Founder of NexGen Storage. John Spiers story of entrepreneurial lightning striking twice, first with his sale of LeftHand Networks to HP and this year’s sale of Nexgen to Fusion-IO for $119 million.
Kevin Reddy, CEO of Noodles & Co.   Noodles started with $73,000 in personal funds from founder Aaron Kennedy and raised $200,000 from friends and family.  The company grew to $300 million in sales and had an IPO that more than doubled in its first day and has continued to grow since then to a market cap of over $1.3 billion.
– Steve Georgis, CEO of LineRate.   Louisville based LineRate received early venture backing from Boulder Ventures and wroked in stealth mode with its Software Defined Networking product that increases speed and efficiency in data centers and just ten months after their product announcement achieved success with an acquisition by F5 Networks in one of the largest acquisitions in the Boulder area in the past several years.

Jared Polis, Congressman and a two-time successful entrepreneurial exit success story! His first exit with BlueMountainArts.com for $780 million and then ProFlowers for $480 million.

– Morgan Rogers McMillan, Executive Director of Entrepreneurs Foundation of Colorado (EFCO). EFCO brings together local venture capitalists and start-ups to set aside 1 percent of their profits to charity.

Register here for the 2013 Colorado Capital Conference. The opening Gala in Denver is the evening of Wednesday November 6th, and the full day conference in Golden is Thursday the 7th. Hope to see you there!

Connecting Parallel Startup Universes

Denver Startup Week was huge for the Denver entrepreneurial scene! It was vibrant with a ton of activities and wide participation from the Denver area. Also in Denver during the same week was the Rocky Mountain Life Science Investor and Partnering Conference, put on by the Colorado BioScience Association. For a bio nerd and startup junkie like myself, it was a very rewarding week. I enjoyed both events, I’m thankful to have been able to IMG_2471participate, and I’d go back next time they come around. CNBC even covered both here and here. My perspective is on the intersection of the events – or more accurately, the lack thereof.

I’m beginning to obsess over this idea. How do we connect the parallel universes of Colorado startup industries? Life Science/Biotech isn’t the only silo, but outside of tech it’s the only one I’m immersed in. Brad Feld talks about the issue in his book Startup Communities, and specifically highlights an unsuccessful interaction with a Boulder biotech group. I won’t say that any person or any group is to blame for the current split – only that we’re here now, and it needs to get better.

Denver Startup Week has been successful twice in two years, and grew significantly from 2012 to 2013. It was not quite, as their signs suggested, a “celebration of everything entrepreneurial in Denver” but it’s getting there, and I only expect the event to grow and become better. It is led by inclusive entrepreneurs, so there is significant community support.

IMG_2473The Colorado BioScience Association’s conference also stands on multiple years of success. Launched in 2009 as a biennial (every 2 years) conference, it brings startups from 5 states: Colorado, Utah, New Mexico, Arizona, and Montana. The 1-day event featured 30 big investors from Colorado, both coasts, and in between: VC’s, public company venture arms, and Angel investors. 30 startups also presented, pitching for everything from angel rounds to getting ready for an IPO. InnovatioNews has a great review of the day here.

Within their own communities, both events were huge. However, almost everyone I talked to at DSW about the biotech conference had no idea it was going on, and many at CBSA’s only found out DSW was going on from the signs on 16th St, since Basecamp was only 4 blocks away. It was close enough that I walked over from the Ritz during a networking break.

There are bright spots in the gap, however. Rockies Venture Club leadership, volunteers, and a few of their top Angels were all over both events. The fact that RVC was founded in 1985 and serves a variety of industries probably helps in that area. There are other people building connections and bridges between the parallel universes, and we need to encourage and cultivate that. This year DSW added a manufacturing track, and I have every reason to believe they’ll keep growing the events. Denver did have a broader focus than Boulder Startup Week, in comparison. BSW was also a great event this year, albeit primarily focused on software and internet. I attended and loved it, and I’ll proudly wear the BSW t-shirt with the 1’s and 0’s logo, even though I can’t write a single line of code.

The noble idea that brings entrepreneurs, creators, artists, and (good) investors together is the belief that we can always make things better by creating value. Startup communities grow organically and tend to be messy, and that breeds collaboration and innovation. I have no doubt this chasm will be bridged; entrepreneurs will lead the way, and the process will add value to anyone involved. The Boulder and Denver startup communities were once pretty segregated, and we’ve seen incredible progress there. Connecting the parallel universes within the Denver/Boulder area is a positive sum game and must be seen that way. It will not be an easy or quick process, but it is worth the effort.

Tim is a regular contributor to the Rockies Venture Club blog and a Master’s of Engineering Management student at CU-Boulder. He holds a bachelor’s in cognitive neuroscience from the University of Denver, and has worked for startups since he left his corporate life as a licensed investment advisor.

Twitter: @taharveyconsult

 

 

5 Elevator Answers You Need to Have While Fundraising

It is awkward to ask people for money. Whether an entrepreneur or fundraising for charity– most people are not used to asking for cash from other people. They’re obviously not the same, though – investing in an entrepreneur (hopefully) produces a financial return. If you’re talking to an angel or VC and you feel like you’re just asking for charity, you need to get your head right. Your frame of mind determines much of your life and other people’s response to it, so feeling confident while raising money is obviously important.

If you feel like you’re asking for charity from investors because you’re not sure about your business, stop. Save everyone’s time and money and change something before you ask for money.

If you feel awkward fundraising but believe in your business, you have some room to work with. When raising money, your mindset should be closer to “This money will allow me to better grow my company and my investors will benefit”, than “I need this money so I don’t go out of business.” Both statements may be true, but focus on the positive. I’m not saying your business should only be chasing money – I believe the goal should be to create value for your customers, and if this is done well profit will follow.

Whether you’re nervous or not, here are five questions you need to be comfortable with. Think of them as “elevator answers” where you can get the main point across in 15-30 seconds, with the ability to expand on them as necessary.

1) How much is your company worth?

Simple question, not-so-simple answer for a startup.

There are a number of different ways to value your company, and the Angel Capital Association has a great post on methods here. The important thing is to use a few, because they take into account different factors and can demonstrate your ability to think from multiple perspectives. Be able to explain why you used the methods you did, as well as underlying risks, assumptions, and caveats in your models. It’s not as important to come up with the “correct” valuation (not a multiple choice test here) as your approach in finding it. You don’t really define your company’s value anyway; value here is determined by what investors are willing to pay for equity. Also keep in mind that valuation is not necessarily the most important thing on the term sheet, and that a high one means more growth necessary to generate the same return.

On a very basic note, know the valuation inherent in your ask. If you ask for $1 million for 20% equity, you’re valuing your business at $5 million pre/$6 million post. If you’ve taken the “college business plan” route so far and came to your valuation by “here’s what I think I need and how much equity I feel like giving up” go back to the drawing board.

2) What are you going to do with the money?

Be specific, and ready to explain each aspect of your plan. Whether it’s to fulfill a huge backlog of orders of widgets you’ve already been selling at a high margin (great!) or you need to hire programmers or a sales team, know the specific reasons and why they’re important.

3) Can you make this work with less?

Genentech is a great example – in 1976 they originally wanted about $3 million from Kleiner Perkins, and were persuaded to prove the concept first. A $250,000 investment helped accomplish this, with much less upfront risk for the entrepreneur and investors. Genentech had a $300 million IPO in 1980, and was fully acquired by Roche in 2009 for $46.8 billion.

Know all the finances. You should already have your current and projected numbers down pat, including revenue, EBITDA, margins, etc., as well as your hopes for an exit. Also, know as much as you can about your industry’s numbers and how other valuations were determined, such as with a financial multiplier or number of users. While many entrepreneurs like to think they’re the only startup in their space, even risk-prone investors like angels or VC’s get wary of moving into virgin territory. It’s useful to have industry comparisons, but be able to distinguish yourself and why you are more likely to succeed.

4) What does it cost to acquire a customer?

This is an important and often-overlooked metric but is increasing in popularity. What does it take to produce your product and get customers to pay you for it? Once you have a customer, do they stick around? Sticky customers lead to scalability.

5) What will this investment cost me?

Last, but perhaps the most important question: ask yourself – what will this investment cost me? For the investor, this is a straightforward answer: usually a check, or a check and time on a board. (On top of due diligence – your potential investors have to pay for that, too)

For the entrepreneur, it is not so easy to answer. Raising money is not making money, and it means you have more to build to generate the same return on value. As a startup ecosystem we have a tendency to celebrate dilution, but more funding is not always better. If you get a high valuation early and need more money before the company’s value has grown, you’ll be facing a painful “down round”, where the share price is lower on a subsequent round. Last quarter, (Q2 2013) 22% of the VC deals in Silicon were down rounds, while 14% were flat rounds – the un-sexy side of high valuations.

 

In the wisdom of Notorious B.I.G. – “Mo’ money, mo’ problems.”

Having excess cash in your pocket can lead to an unnecessary burn rate and not validating customer traction. Even successful entrepreneurs can fall into the over-funding trap, especially after exiting their first company with a windfall. If fundraising, diluting founder’s equity to the point where it impacts your motivation is dangerous as well.

Raise money only if you need to. If you do, start the process 6-12 months before you actually need it, and make sure you’re on top of your game.

 

Tim Harvey is a Master’s of Engineering Management student at CU-Boulder and a regular contributor to the Rockies Venture Club. He has started a few businesses (nothing big yet) and most recently worked as a Fortune 500 marketing consultant with a neuroscience-based startup. Prior to that he was an investment advisor for individuals and corporations, holding FINRA Series 7 and 66 licenses.

Venture Capital for Health Care companies doubles in 2013.

Health care companies are receiving a lot of attention from VCs this year and the trend appears to be increasing.  In the first two quarters of 2013 there were 272 deals completed in health care compared with 163 for the totality of 2012.

These trends in VC investment are a good harbinger for angel investors in health care who often rely on VCs to take on the next Series A round of funding.  When VCs are funding lots of health care deals it reduces risk for angels and provides additional opportunities for growth.

A lot of the growth is in areas that will be presented in RVC’s upcoming “Investing in Health Care” event  (Monday, September 9th 5:00-7:30pm) will be in the hot industry sectors including wearable devices, patient engagement, patient-to-physician, provider to provider and other technologies.  RVC is also presenting non-IT based companies including a new approach to curing breast cancer and is currently in due diligence on a break-through cardiac product that reduces some heart surgeries by as much as 80%.

health care IT vc fundingAn interesting trend in this growth is that consumer focused investments are growing at an even faster rate with consumer-focused technologies representing 112 deals for a total of $416 million – about double from last year while practice-focused technologies represented  56 deals totaling $202 million for the quarter.

Health Information Management companies received the most VC funding at $212 million while mobile health came in at $158 million.

According to a report on Q2 Venture Capital activity in health care funding by Mercom Capital Group llc, Consumer-focused companies specializing in apps, wearable devices & sensors, remote monitoring, patient engagement, rating/shopping, and social health networks for physician-to-physician, physician-to-patient and patient-to-patient were all involved in multiple funding deals this quarter, whereas medical imaging, data analytics and EHR/EMR companies were among the practice-focused technologies that received most of the attention this quarter.”

To see some of Colorado’s most promising angel-stage companies present for investment and to hear about some of the leading trends in health care, be sure to put Rockies Venture Club’s “Investing in Health Care” event on your calendar.  Click here for more information and to register.Register for Investing In Tech Companies event

 

Sun Number – Colorado Solar Analysis Company

Guest Post by James Lester, Managing Consultant with Cleantech Finance

Despite some well publicized difficulties for cleantech investors, one area in particular has been a very rewarding place for investors to put their money. An innovative business model known as third-party ownership, combined with the falling price of solar modules, has led to a boom in the US solar market. Residential solar installations in 2012 reached 488 megawatts, a 62 percent increase over 2011 installations. According to GTM Research, a solar photovoltaic system is installed every four minutes in the U.S.  A Colorado company is poised to take full advantage of this booming market, by providing unique data that give homeowners and solar installers a clear and simple assessment of a building’s solar potential.

sun number

Sun Number, co-founded by David Herrmann and Ryan Miller is building off a $400,000 grant from the Department of Energy’s Sunshot Incubator, awarded last year to develop a tool to make it easier, faster and less expensive for both homeowners and solar companies to analyze the solar potential individual properties. The tool, known as a Sun Number Score, engages consumers by providing a solar analysis of their home or office building with an easy to understand score between 1 and 100, and then putting them in touch with a local solar professional. Solar professionals use the tool to reduce the costs of customer acquisition.

The DOE’s SunShot program established a new $10 million competition last year for innovative, sustainable, and verifiable business practices that reduce what’s are known as “soft costs”. The cost of acquiring customers and designing systems to fit their homes represents about 45% of all balance of systems costs in the U.S. rooftop residential solar market, according to the DOE. These high marketing costs, by some estimates as high as almost $5,000 per residential customer, create barriers for both the potential solar energy consumer and the solar installer. While soft costs have fallen as the solar industry grows, experts believe that further declines must occur in order to for solar to reach grid parity with other energy sources.

A large part of these soft costs results from several different issues with the acquisition process. In some cases, an on-site visit occurs by a professional to estimate the solar potential and energy requirements/capability of a residential or commercial rooftop. This process is not only costly, but often slows down the consultation process with the customer by several days. In many other cases, professionals use Google Earth or another imagery based program to try to estimate the size and location of the system. This often results in inaccurate readings due to guesses on nearby shading and rooftop pitch angles. These imprecise estimates lead to poorly designed systems and reductions in energy savings benefits.

This is where the market opportunity for Sun Number lies. The company streamlines the solar installer’s customer acquisition process. Utilizing high-resolution aerial data, advanced GIS technology and proprietary algorithms, Sun Number reduces these soft costs by providing an accurate, inexpensive, and quick analysis of the property allowing salespeople to screen out unsuitable properties on first contact. Using only a street address and Sun Number’s easy to use interface, solar companies can immediately obtain information about a property’s solar suitability that was previously only available if they sent an employee on-site for a lengthy inspection.

“The trend in solar installations is that soft costs are increasing as a percentage of overall costs, in part due to the labor-intensive analysis necessary to evaluate the solar potential of a rooftop. Not only is it costly, but it slows the sales process to a crawl as both the provider and the customer are forced to wait for their schedules to align and the weather to cooperate. Our goal was to develop a tool that eliminates those high costs and allows providers to get that information instantly,” said Herrmann.

houses

The Sun Number Score represents the solar suitability of a building’s rooftop on a scale from 1 to 100, with 100 being the ideal rooftop for solar. Using a proprietary data set, Sun Number determines the solar-suitable square footage of a building by taking into account factors of importance to solar installers, including:

  • The pitch of every roof section
  • The orientation of every roof plane
  • Shade created by surrounding buildings that might impact solar potential
  • Shade created by surrounding vegetation that might impact solar potential

Additionally, Sun Number Scores will take into account regional factors such as:

  • Average sunshine for the market
  • Atmospheric conditions that may impact solar potential
  • Availability of local solar incentives
  • Regional cost of electricity for calculation of solar savings

While Sun Number considers themselves a ‘data-focused company, the company has much in common with the new wave of energy-related technology, dubbed ‘cleanweb’, which is increasingly getting the attention of venture capitalists for its promise of applying Internet business models and “big data” to clean energy. While many investors have been frightened from investing in ‘cleantech’ companies, this area in particular is attracting a lot of attention.

The Cleanweb, coined by venture capitalist Sunil Paul, describes technology companies that leverage the surge of available data in combination with the internet, social media and mobile to address society’s current resource constraints. When asked about the market potential of cleanweb, Paul said, “The cleanweb is the ability to distribute software and services on top of that infrastructure that makes it more efficient, and that is the next big evolution in cleantech.”

Rob Day, a partner with Black Coral Capital sees that there is significant interest from the venture capital community around the cleanweb business models and system integration. He describes these models as (sometimes financial-oriented, sometimes web-oriented, sometimes software and controls oriented, sometimes deployment-oriented, sometimes just plain services.

Sun Number has found a unique way to deploy rich data sets to reduce costs and increase the growth of the enormous market of solar rooftop installations. Thus far, Sun Number has processed data on over 7 million buildings in 12 metro areas.  The company plans to expand to more cities in 15 to 18 states that are best suited to the growing solar market. The company is also developing a customer focused interface, or ‘dashboard’ that will incorporate the next generation of Sun Number scores, which will include local economic incentives and changing installation and permitting costs. The company plans to implement a dynamic scoring system, which will notify consumers if their Sun Number Score has changed due to recent changes in policies or market conditions.

Herrmann comments, “It is estimated that the solar industry spent over $200M on residential customer qualification and acquisition in 2012, much of it on inaccurate and expensive solutions.  Sun Number is helping fuel the solar market growth by making available accurate low cost data that identifies properties and people that are most likely to purchase solar.”

If you would like to learn more about Sun Number, visit their website or contact David Herrmann at david.herrmann@sunnumber.com