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38 Degrees North valuation, funding and investors

38 Degrees North works in sustainable infrastructure asset development and operation, based in Sausalito, United States. Founded in 2015, it has about 42 employees.

Solar Energy Company Sausalito Growth Equity
VALUATION · TODAY
$2.99B +9% after Growth
Range $2.09B – $4.63B · Grade B
TODAY
+12 MO
$1.00B
$2.00B
$3.00B
$4.00B
$5.00B
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Growth $230M
Growth $260M
ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then
HEADCOUNT · TODAY42 employees
+40%6m growth
+75%1y growth
+282%2y growth
25
50
Data from Jan 2021
TODAY
Predicted in 1 yr $3.26B +9% vs today
Predicted next raise $294M if a round comes
Winding-down probability 0%
Last round
Growth · $260M · Sep 2026
Valuation at last round
$2.96B · implied
Headcount
42 · growing
Grade
B
Founded
2015
How VCMC values companies →

38 Degrees North valuation today

VCMC values 38 Degrees North at $3.0B today, with a range of $2.1B to $4.6B and a grade of B. The valuation starts from its last funding round, a growth round in Sep 2026.

Valuation by date (145 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

38 Degrees North: valuation by date, as the model would have shown it on each date
DateValuationRangePredicted in 1 yrPhaseHeadcountTrendGradeWinding-down probability
1 Jan 2015$5.59M$2.04M – $15.4M$5.86M (+5%)before first round–unknownD0%
1 Feb 2015$5.62M$2.04M – $15.4M$5.88M (+5%)before first round–unknownD0%
1 Mar 2015$5.64M$2.05M – $15.5M$5.91M (+5%)before first round–unknownD0%
1 Apr 2015$5.66M$2.06M – $15.5M$5.93M (+5%)before first round–unknownD0%
1 May 2015$5.68M$2.07M – $15.6M$5.95M (+5%)before first round–unknownD0%
1 Jun 2015$5.70M$2.08M – $15.7M$5.98M (+5%)before first round–unknownD0%
1 Jul 2015$5.72M$2.08M – $15.7M$6.00M (+5%)before first round–unknownD0%
1 Aug 2015$5.75M$2.09M – $15.8M$6.15M (+7%)before first round–unknownD0%
1 Sep 2015$5.77M$2.10M – $15.8M$6.32M (+10%)before first round–unknownD0%
1 Oct 2015$5.79M$2.11M – $15.9M$6.49M (+12%)before first round–unknownD0%
1 Nov 2015$5.82M$2.12M – $16.0M$6.66M (+15%)before first round–unknownD0%
1 Dec 2015$5.84M$2.13M – $16.0M$6.84M (+17%)before first round–unknownD0%
1 Jan 2016$5.86M$2.13M – $16.1M$7.03M (+20%)before first round–unknownD0%
1 Feb 2016$5.88M$2.14M – $16.2M$7.22M (+23%)before first round–unknownD0%
1 Mar 2016$5.91M$2.15M – $16.2M$7.40M (+25%)before first round–unknownD0%
1 Apr 2016$5.93M$2.16M – $16.3M$7.60M (+28%)before first round–unknownD0%
1 May 2016$5.95M$2.17M – $16.4M$7.80M (+31%)before first round–unknownD0%
1 Jun 2016$5.98M$2.18M – $16.4M$8.01M (+34%)before first round–unknownD0%
1 Jul 2016$6.00M$2.18M – $16.5M$8.22M (+37%)before first round–unknownD0%
1 Aug 2016$6.16M$2.24M – $16.9M$8.44M (+37%)before first round–unknownD0%
1 Sep 2016$6.33M$2.30M – $17.4M$8.67M (+37%)before first round–unknownD0%
1 Oct 2016$6.49M$2.36M – $17.8M$8.90M (+37%)before first round–unknownD0%
1 Nov 2016$6.67M$2.43M – $18.3M$9.14M (+37%)before first round–unknownD0%
1 Dec 2016$6.84M$2.49M – $18.8M$9.38M (+37%)before first round–unknownD0%
1 Jan 2017$7.03M$2.56M – $19.3M$9.63M (+37%)before first round–unknownD0%
1 Feb 2017$7.22M$2.63M – $19.8M$9.89M (+37%)before first round–unknownD0%
1 Mar 2017$7.39M$2.69M – $20.3M$10.1M (+37%)before first round–unknownD0%
1 Apr 2017$7.59M$2.76M – $20.9M$10.4M (+37%)before first round–unknownD0%
1 May 2017$7.79M$2.84M – $21.4M$10.7M (+37%)before first round–unknownD0%
1 Jun 2017$8.00M$2.91M – $22.0M$11.0M (+37%)before first round–unknownD0%
1 Jul 2017$8.21M$2.99M – $22.6M$11.3M (+37%)before first round–unknownD0%
1 Aug 2017$8.44M$3.07M – $23.2M$11.6M (+37%)before first round–unknownD0%
1 Sep 2017$8.67M$3.15M – $23.8M$11.9M (+37%)before first round–unknownD0%
1 Oct 2017$8.89M$3.24M – $24.4M$12.2M (+37%)before first round–unknownD0%
1 Nov 2017$9.14M$3.33M – $25.1M$12.5M (+37%)before first round–unknownD0%
1 Dec 2017$9.37M$3.41M – $25.8M$12.9M (+37%)before first round–unknownD0%
1 Jan 2018$9.63M$3.51M – $26.5M$13.2M (+37%)before first round–unknownD0%
1 Feb 2018$9.89M$3.60M – $27.2M$13.6M (+37%)before first round–unknownD0%
1 Mar 2018$10.1M$3.69M – $27.8M$13.9M (+37%)before first round–unknownD0%
1 Apr 2018$10.4M$3.79M – $28.6M$14.3M (+37%)before first round–unknownD0%
1 May 2018$10.7M$3.89M – $29.3M$14.6M (+37%)before first round–unknownD0%
1 Jun 2018$11.0M$3.99M – $30.1M$15.0M (+37%)before first round–unknownD0%
1 Jul 2018$11.3M$4.10M – $30.9M$15.4M (+37%)before first round–unknownD0%
1 Aug 2018$11.6M$4.21M – $31.8M$15.6M (+35%)before first round–unknownD0%
1 Sep 2018$11.9M$4.33M – $32.6M$15.7M (+32%)before first round–unknownD0%
1 Oct 2018$12.2M$4.44M – $33.5M$15.9M (+30%)before first round–unknownD0%
1 Nov 2018$12.5M$4.56M – $34.4M$16.0M (+28%)before first round–unknownD0%
1 Dec 2018$12.9M$4.68M – $35.3M$16.2M (+26%)before first round–unknownD0%
1 Jan 2019$13.2M$4.81M – $36.3M$16.3M (+24%)before first round–unknownD0%
1 Feb 2019$13.6M$4.94M – $37.3M$16.5M (+21%)before first round–unknownD0%
1 Mar 2019$13.9M$5.06M – $38.2M$16.6M (+19%)before first round–unknownD0%
1 Apr 2019$14.3M$5.20M – $39.2M$16.8M (+17%)before first round–unknownD0%
1 May 2019$14.6M$5.33M – $40.2M$16.9M (+15%)before first round–unknownD0%
1 Jun 2019$15.0M$5.48M – $41.3M$17.1M (+13%)before first round–unknownD0%
1 Jul 2019$15.4M$5.62M – $42.4M$17.2M (+11%)before first round–unknownD0%
1 Aug 2019$15.6M$5.68M – $42.8M$17.4M (+11%)before first round–unknownD0%
1 Sep 2019$15.7M$5.73M – $43.2M$17.5M (+11%)before first round–unknownD0%
1 Oct 2019$15.9M$5.78M – $43.6M$17.7M (+11%)before first round–unknownD0%
1 Nov 2019$16.0M$5.83M – $44.0M$17.8M (+11%)before first round–unknownD0%
1 Dec 2019$16.2M$5.89M – $44.4M$18.0M (+11%)before first round–unknownD0%
1 Jan 2020$16.3M$5.94M – $44.8M$18.2M (+11%)before first round–unknownD0%
1 Feb 2020$16.5M$5.99M – $45.2M$18.3M (+11%)before first round–unknownD0%
1 Mar 2020$16.6M$6.05M – $45.6M$18.5M (+11%)before first round–unknownD0%
1 Apr 2020$16.8M$6.10M – $46.0M$18.7M (+11%)before first round–unknownD0%
1 May 2020$16.9M$6.16M – $46.4M$18.8M (+11%)before first round–unknownD0%
1 Jun 2020$17.1M$6.21M – $46.9M$19.0M (+11%)before first round–unknownD0%
1 Jul 2020$17.2M$6.27M – $47.3M$19.2M (+11%)before first round–unknownD0%
1 Aug 2020$17.4M$6.33M – $47.7M$19.3M (+11%)before first round–unknownD0%
1 Sep 2020$17.5M$6.38M – $48.2M$19.5M (+11%)before first round–unknownD0%
1 Oct 2020$17.7M$6.44M – $48.6M$19.7M (+11%)before first round–unknownD0%
1 Nov 2020$17.9M$6.50M – $49.0M$19.9M (+11%)before first round–unknownD0%
1 Dec 2020$18.0M$6.56M – $49.5M$20.1M (+11%)before first round–unknownD0%
1 Jan 2021$15.1M$5.49M – $41.4M$13.3M (-12%)before first round5unknownD0%
1 Feb 2021$15.2M$5.54M – $41.8M$12.9M (-15%)before first round5unknownD0%
1 Mar 2021$15.3M$5.58M – $42.1M$12.5M (-18%)before first round5unknownD0%
1 Apr 2021$15.5M$5.63M – $42.5M$12.1M (-22%)before first round5unknownD0%
1 May 2021$15.6M$5.68M – $42.9M$11.7M (-25%)before first round5unknownD0%
1 Jun 2021$15.8M$5.74M – $43.3M$11.3M (-28%)before first round5unknownD0%
1 Jul 2021$15.9M$5.79M – $43.7M$11.0M (-31%)before first round5unknownD0%
1 Aug 2021$15.4M$5.56M – $42.9M$10.6M (-31%)before first round5unknownD0%
1 Sep 2021$15.0M$5.33M – $42.2M$10.3M (-32%)before first round5unknownD0%
1 Oct 2021$14.6M$5.12M – $41.5M$9.92M (-32%)before first round5unknownD0%
1 Nov 2021$14.1M$4.91M – $40.7M$9.59M (-32%)before first round5unknownD0%
1 Dec 2021$13.7M$4.71M – $40.0M$9.27M (-32%)before first round5unknownD0%
1 Jan 2022$14.4M$4.88M – $42.6M$10.2M (-29%)before first round7unknownD0%
1 Feb 2022$14.0M$4.69M – $41.9M$9.90M (-29%)before first round7unknownD0%
1 Mar 2022$13.7M$4.52M – $41.3M$9.63M (-30%)before first round7unknownD0%
1 Apr 2022$13.3M$4.34M – $40.6M$9.33M (-30%)before first round7unknownD0%
1 May 2022$12.9M$4.17M – $40.0M$9.05M (-30%)before first round7unknownD0%
1 Jun 2022$12.6M$4.01M – $39.3M$8.77M (-30%)before first round7unknownD0%
1 Jul 2022$12.2M$3.85M – $38.7M$8.50M (-30%)before first round7unknownD0%
1 Aug 2022$11.8M$3.69M – $38.0M$8.40M (-29%)before first round7unknownD0%
1 Sep 2022$11.5M$3.54M – $37.4M$8.30M (-28%)before first round7unknownD0%
1 Oct 2022$11.2M$3.40M – $36.7M$8.21M (-27%)before first round7unknownD0%
1 Nov 2022$10.8M$3.26M – $36.1M$8.11M (-25%)before first round7unknownD0%
1 Dec 2022$10.5M$3.13M – $35.4M$8.01M (-24%)before first round7unknownD0%
1 Jan 2023$10.2M$3.00M – $34.8M$7.92M (-22%)before first round7unknownD0%
1 Feb 2023$9.90M$2.87M – $34.2M$7.82M (-21%)before first round7unknownD0%
1 Mar 2023$9.63M$2.76M – $33.6M$7.73M (-20%)before first round7unknownD0%
1 Apr 2023$9.33M$2.64M – $32.9M$7.64M (-18%)before first round7unknownD0%
1 May 2023$15.3M$5.03M – $39.5M$13.2M (-13%)before first round11growingD0%
1 Jun 2023$14.9M$4.84M – $39.0M$13.1M (-12%)before first round11growingD0%
1 Jul 2023$14.5M$4.67M – $38.4M$13.0M (-11%)before first round11growingD0%
1 Aug 2023$10.4M$2.83M – $38.3M$9.24M (-11%)before first round11unknownD0%
1 Sep 2023$10.3M$2.79M – $38.1M$9.11M (-12%)before first round11unknownD0%
1 Oct 2023$10.2M$2.75M – $38.0M$8.99M (-12%)before first round11unknownD0%
1 Nov 2023$10.1M$2.71M – $37.9M$8.86M (-12%)before first round11unknownD0%
1 Dec 2023$10.0M$2.67M – $37.7M$8.74M (-13%)before first round11unknownD0%
1 Jan 2024$9.93M$2.63M – $37.5M$8.61M (-13%)before first round11unknownD0%
1 Feb 2024$9.84M$2.59M – $37.4M$8.49M (-14%)before first round11unknownD0%
1 Mar 2024$9.75M$2.55M – $37.2M$8.37M (-14%)before first round11unknownD0%
1 Apr 2024$9.65M$2.51M – $37.1M$8.26M (-14%)before first round11unknownD0%
1 May 2024$9.56M$2.48M – $36.9M$8.14M (-15%)before first round11unknownD0%
1 Jun 2024$9.46M$2.44M – $36.7M$8.03M (-15%)before first round11unknownD0%
1 Jul 2024$9.37M$2.40M – $36.6M$7.92M (-16%)before first round11unknownD0%
1 Aug 2024$9.24M$2.35M – $36.2M$7.85M (-15%)before first round11unknownD0%
1 Sep 2024$9.11M$2.31M – $35.9M$7.78M (-15%)before first round11unknownD0%
1 Oct 2024$8.98M$2.27M – $35.6M$7.72M (-14%)before first round11unknownD0%
1 Nov 2024$8.85M$2.22M – $35.3M$7.65M (-14%)before first round11unknownD0%
1 Dec 2024$8.73M$2.18M – $35.0M$7.59M (-13%)before first round11unknownD0%
1 Jan 2025$8.61M$2.14M – $34.7M$7.52M (-13%)before first round11unknownD0%
1 Feb 2025$8.49M$2.10M – $34.4M$7.46M (-12%)before first round11unknownD0%
1 Mar 2025$8.38M$2.06M – $34.1M$7.40M (-12%)before first round11unknownD0%
1 Apr 2025$8.26M$2.02M – $33.8M$7.34M (-11%)before first round11unknownD0%
1 May 2025$8.15M$1.98M – $33.5M$7.28M (-11%)before first round11unknownD0%
1 Jun 2025$8.03M$1.94M – $33.2M$7.21M (-10%)before first round11unknownD0%
1 Jul 2025$12.7M$3.05M – $52.8M$11.8M (-7%)before first round24unknownD0%
18 Jul 2025$2.6B$1.7B – $4.3B$2.8B (+10%)after a round24unknownB0%
1 Aug 2025$2.6B$1.7B – $4.3B$2.8B (+10%)after a round24flatB0%
1 Sep 2025$2.6B$1.7B – $4.3B$2.8B (+9%)after a round24flatB0%
1 Oct 2025$2.6B$1.7B – $4.3B$2.8B (+8%)after a round24flatB0%
1 Nov 2025$2.6B$1.7B – $4.4B$2.9B (+8%)after a round26flatB0%
1 Dec 2025$2.7B$1.7B – $4.4B$2.9B (+7%)after a round26flatB0%
1 Jan 2026$2.7B$1.7B – $4.4B$2.9B (+6%)after a round26flatB0%
1 Feb 2026$2.7B$1.7B – $4.4B$2.9B (+5%)after a round26flatB0%
1 Mar 2026$2.7B$1.7B – $4.4B$2.9B (+4%)after a round26flatB0%
1 Apr 2026$2.8B$1.8B – $4.5B$3.0B (+4%)after a round30upB0%
1 May 2026$2.9B$1.8B – $4.5B$3.0B (+3%)after a round30upB0%
1 Jun 2026$2.9B$1.8B – $4.5B$3.0B (+2%)after a round30upB0%
1 Jul 2026$2.9B$1.8B – $4.5B$3.0B (+1%)after a round30upB0%
1 Aug 2026$3.0B$1.7B – $4.5B$3.0B (0%)after a round30upB0%
1 Sep 2026$3.1B$1.9B – $4.8B$3.1B (0%)after a round40growingB0%
17 Sep 2026$3.0B$2.1B – $4.6B$3.3B (+10%)after a round40growingB0%
1 Oct 2026$3.0B$2.1B – $4.6B$3.3B (+10%)after a round42growingB0%
24 Oct 2026$3.0B$2.1B – $4.6B$3.3B (+9%)after a round42growingB0%

Key facts about 38 Degrees North

Founded
2015
Headquarters
Sausalito, United States
Employees
about 42 +62% in a year
Total raised
$490M
Funding rounds
2
Last round
Growth Equity Sep 2026

38 Degrees North funding history

38 Degrees North has 2 funding rounds on record, from Jul 2025 to Sep 2026, $490M in total. None disclosed a valuation.

  1. Growth Equity 16 Sep 2026

    Led by Apterra; with Stifel, National Bank of Canada, BankUnited, Farmer Mac, Amalgamated Bank, Siemens Financial Services.

    Sources: finsmes.com, cleanenergypipeline.com, finance.yahoo.com and 1 more

    $260M

  2. Growth Equity 17 Jul 2025

    With Climate Adaptive Infrastructure, Kimmeridge.

    Sources: latitudemedia.com, prnewswire.com, nacleanenergy.com

    $230M

38 Degrees North investors

9 investors have backed 38 Degrees North; Apterra led at least one round.

  • Amalgamated Bank
  • BankUnited
  • Climate Adaptive Infrastructure
  • Farmer Mac
  • National Bank of Canada
  • Siemens Financial Services

What 38 Degrees North does

38 Degrees North works in solar energy company, with 14 recorded offerings and customers in renewable energy.

38 Degrees North is a United States company engaged in the development, construction, and operation of distributed generation, community solar, battery storage, and other sustainable infrastructure assets. The company serves clients across multiple states, including New York, Massachusetts, Illinois, California, Maryland, Pennsylvania, and Minnesota, and collaborates with developers, businesses, landowners, and communities to deliver projects. In addition to its core activities, 38 Degrees North provides operations, maintenance, billing, and collections services for its infrastructure assets.

Description from Veridion's company data.

Products and services

  • Sustainable Infrastructure Asset Development and Operation
  • Distributed Generation Project Development and Operation
  • Community Solar Project Development and Operation
  • Battery Storage Project Development and Operation
  • Renewable Energy Project Financing Structuring
  • Tax Equity Financing Structuring
  • Debt Financing Structuring
  • Sale Leaseback Structuring
  • Lease Pass-Through Structuring
  • Partnership Flip Structuring
  • Mezzanine Debt Structuring
  • Construction and Warehouse Facility Financing
  • Community Solar Customer Portal Development
  • Sustainable Infrastructure Asset Operations and Maintenance

Markets

  • Renewable Energy

Business model

  • Business-to-Business
  • Service Provider
  • Enterprise
  • Asset Management

Industry codes (NAICS)

  • 221114 Solar Electric Power Generation 75% match
  • 221118 Other Electric Power Generation 25% match

Questions about 38 Degrees North

What is 38 Degrees North worth?

Valuation $3.0B (range $2.1B to $4.6B), as of 24 Oct 2026.

Has 38 Degrees North raised money?

38 Degrees North has 2 funding rounds on record, from Jul 2025 to Sep 2026, $490M in total. None disclosed a valuation.

Who has invested in 38 Degrees North?

Apterra, Amalgamated Bank, BankUnited, Climate Adaptive Infrastructure, Farmer Mac and Kimmeridge, and 3 more. Lead investors include Apterra.

How many people work at 38 Degrees North?

About 42, up 62% over the last year. Headcount grew from 5 in Jan 2021 to 42 in Sep 2026.

What does 38 Degrees North do?

38 Degrees North works in solar energy company, with 14 recorded offerings and customers in renewable energy. Its main offerings are sustainable infrastructure asset development and operation, distributed generation project development and operation and community solar project development and operation.

When was 38 Degrees North founded, and where is it based?

38 Degrees North was founded in 2015 and is based in Sausalito, United States. It has about 42 employees, up 62% over the last year.