How do you know when a market has matured?
Often, you can simply look at the usual metrics: revenue, market capitalization, customer numbers, margins, and the like. But there’s one relatively new measure that doesn’t get a ton of attention: Is there a Y Combinator-backed SaaS startup for a market?
If that’s the metric, then the market for solar installers is officially mature.
For years, solar installers have cobbled together project management workflows. For smaller companies, that often looked like a slew of spreadsheets. For larger ones, it meant hacking together something from Salesforce or Oracle to fit the unique needs of a solar installation. Altogether, they worked: The industry is still booming, as evidenced by the fact that jobs for solar installers are expected to grow 22% this year.
But though they work, these systems aren’t ideal.
Coperniq’s pitch is that its SaaS will help solar installers manage their projects better than existing solutions while also giving the companies an eye toward long-term recurring revenue. The startup was part of Y Combinator’s Winter 2023 batch, filling out part of the accelerator’s drive to invest in more climate tech startups. Since graduating, the company has been on track to increase annual recurring revenue five-fold this year, co-founder and CEO Abdullah Al-Zandani told TechCrunch+.
“We’re in the healthy spot,” he said.
A few things inspired Al-Zandani to start Coperniq along with Max Kazakov. Most recently, Al-Zandani worked for a solar company helping to manage sales and operations, which was where he realized there was a need for a better solution.