Project Frog scores $20 mln in Series D funds


Project Frog said Thursday that it has closed $20 million in Series D funding. The investors were CCM US and members of the Cleantech Syndicate, including its manager, McNally Capital. Based in San Francisco, Project Leader is a developer of technologically-advanced component buildings.

PRESS RELEASE

Project Frog, the industry leader in technologically-advanced component buildings, today announced it has raised $20 million in additional capital. The Series D investment comes from CCM US, LLC (CCM) and members of the Cleantech Syndicate, including its manager, McNally Capital.
“Project Frog is revolutionizing the way sustainable buildings are created,” said Josh Green, Managing Director – Energy at CCM. “The company’s efficient approach to the construction process, as well as the resulting greener, smarter buildings, align perfectly with our strategy to invest in and help scale innovative companies with proven solutions to transform the environmental performance of buildings. CCM is excited to be supporting Project Frog’s rapid growth as the company expands its impact in the building construction marketplace.”
This funding recognizes Project Frog’s rapid growth in its mission to revolutionize the way buildings are created. So far in 2013, the company has delivered more than seven times the square footage of buildings than in 2012. In response to the company’s growth, Project Frog continues to hire new staff, growing its headcount by 15 percent in the last quarter, and relocating its headquarters to a significantly larger space in the South of Market (SOMA) neighborhood in San Francisco.
“This investment validates that Project Frog is delivering on its mission to democratize healthy, inspired buildings,” said Ann Hand, Project Frog CEO. “Our ‘Frogs’ now come at a price point affordable for the masses with no sacrifice to high design and embedded technology. For education there is now a bright alternative to portables, and we won’t be satisfied until we have millions of kids in Frogs. We have solutions for healthcare and retail, along with game-changing innovation under development for new verticals. It’s a $7 trillion global construction market, and we are well on our way in elevating what you should demand from the buildings where you spend 50 percent of your life.”
Project Frog continues to receive recognition on a number of fronts. Within the past several months, the company’s CEO, Ann Hand, was named one of Fortune’s 10 Most Powerful Women Entrepreneurs. Additionally, Project Frog was named in the 2013 Global Cleantech 100 for the third consecutive year and was included in the 2013 Inc. 5000 List of America’s Fastest Growing Companies, notably ranked 19 of Top 100 Manufacturing Companies.
About Project Frog
Better. Greener. Faster. Smart. Project Frog is on a mission to revolutionize the way buildings are created by applying technology to overcome the inefficiencies of traditional construction. The result is a structure that is measurably greener and significantly smarter, creating brighter, healthier spaces that inspire better performance from the people who occupy them. Project Frog offers a versatile ecosystem of products that adapt to all kinds of uses including: healthcare, education and retail. The innovative systems are frequent recipients of industry awards for their design and performance. For more information, visit www.projectfrog.com.
About CCM US, LLC
CCM is a Washington, DC based asset manager dedicated to generating superior, risk-adjusted returns by investing in clean energy and commercial real estate in the US and Latin America. Historically a real estate firm, the CCM family of companies includes ownership, leasing, management and development of commercial real estate in the Mid-Atlantic and Southeastern United States and Puerto Rico. In clean energy, CCM invests expansion capital into rapidly growing companies with a proven solution in the green building, green construction, and distributed energy sectors. The firm acts as a strategic investor, providing its portfolio companies with unique value based on its deep expertise and connections in the real estate industry, as well as its extensive portfolio of owned and managed buildings into which clean energy solutions can be deployed.
About The Cleantech Syndicate
Co-founded by McNally Capital in 2010, the Cleantech Syndicate (“Syndicate”) was formed to bring large, sophisticated family offices together to share capital, deal flow, knowledge and networks to promote and increase their support of clean energy companies. The 12 members of the Cleantech Syndicate through their investment teams and operating businesses have collectively invested over $1 billion into renewable energy technologies and projects and seek to invest an additional $1 billion over an indeterminate time horizon. The collective membership has extensive operating and investment experience across all Cleantech industries, and focuses its efforts by investing directly into companies where they can bring value to management teams. Operating using a “pledge fund” structure, the Syndicate has invested in a variety of Cleantech opportunities cutting across industry, stage and deal structure. For more information please visit: www.cleantechsyndicate.com.
About McNally Capital
Founded in 2008, McNally Capital is an investment and advisory firm that works with family investment offices to make and manage private equity investments. Tracing its history to the family that successfully owned and operated the Rand McNally Companies for nearly 150 years, it focuses its efforts on investments in private companies where it can provide strategic value beyond capital. Its philosophy is to partner with world-class management teams and to ensure they receive the resources required to successfully execute their strategic plan for the business. The Firm also invests alongside its clients through direct co-investment and through its proprietary fund vehicles. At the core of everything the firm does is an extensive network of more than 500 family offices, which generates unparalleled access to resources and expertise. For more information please visit: www.mcnallycapital.com.