PEARL ELECTRIC SECURES INVESTMENT FROM MICHIGAN RISE

EAST LANSING, Mich. –– Pearl Electric, a Detroit-based company focused on making home electrification frictionless for consumers and more profitable for contractors, has secured an investment from Michigan Rise Pre-Seed Fund III. 

Home electrification projects can be complex, time-consuming, and expensive – an overwhelming process for homeowners. Pearl Electric aims to simplify this process with a project scoping and qualification tool that is “as user-friendly as TurboTax.” Customers are guided through an automated, step-by-step scoping process with the goal of delivering contract-ready projects to both customers and contractors. 

"We're very impressed with the Pearl Electric team, and excited about the potential of their technology," said Tommy Skinner, Venture Associate at Michigan Rise. "With increased consumer awareness and significant government incentives, the market is ready for a platform like Pearl is creating.”  

The company’s Pre-Seed Financing Round will be used to build out the founding team, launch the software platform, and establish foundational partnerships.  

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About Michigan Rise 
Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan. 

About Pearl Electric 
Pearl is a software-enabled home electrification concierge, founded to make home electrification frictionless for customers and more profitable for installers. Pearl uses a proprietary scoping algorithm to design bespoke systems for each unique home. The company’s mantra is right system, right price, right pro, right away.