Just two years after launching its residential solar offering, Vivint now claims a 9 percent share of the U.S. installation market. The company’s door-to-door sales strategy has attracted investors and enabled Vivint to thrive in the rapidly growing solar industry.
Parent company Blackstone Capital acquired Vivint Inc. for $2 billion last year. Blackstone’s Peter Wallace, who oversaw the investment, told Reuters that the company’s direct sales strategy stood out as a “unique and attractive” customer acquisition model. The company’s unique strategy and rapid growth have also attracted impressive funding—since August, Vivint has raised $740 million to develop its solar projects.
Following upon its exponential growth, Vivint has received recognition from Inc. magazine as one of the nation’s top job creators. The 2013 Hire Power Awards honored Vivint as the No. 2 job-creating private company in America. From a founding team of three, Vivint Solar has grown in the last two years to employ 900 in seven states—growth achieved without tapping into Vivint Inc.’s 750,000 existing customers.
Read more on Vivint’s direct sales strategy and financed solar model from Reuters.