Dandelion Energy, the nation’s leading home geothermal company, secures $40million in series C round funding led by GV (Google Ventures) and supported by Collaborative Fund, LenX, Breakthrough Energy Ventures, and NGP.
The investment round will fuel the company’s two-pronged nationwide expansion: distributing its revolutionary heat pump technology to installers and homeowners, and implementing large projects for production home builders and multifamily developers.
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This fundraise follows the company’s $70M Series B1 funding completed in 2022, and founder Kathy Hannun’s inclusion on CNBC’s inaugural Changemakers List, and new Chief Revenue Officer, Lauren Howard, joining the team in 2024.
Dandelion CEO, Dan Yates said, “Dandelion is becoming the preferred partner—nationwide—to the country’s largest home builders and multifamily developers as they shift to building fully electrified homes, Dandelion’s current and upcoming projects range from thousand+ single family home developments to multifamily buildings with hundreds of apartments,”.
Erik Nordlander, General Partner at GV and Board Member at Dandelion said, “Builders are choosing Dandelion geothermal because it’s the highest quality and least expensive option for building heating and cooling. Dandelion’s efficient, scaled operations give the company a unique position in the market. We’re proud to be repeat investors in Dandelion as they continue to have an enormous impact in geothermal energy,”.
In addition to this investment serving the builder market, Dandelion continues to lead the nation with novel product development to make geothermal installations increasingly simple and cost effective. The recent launch of the groundbreaking Dandelion Geo heat pump anchors Dandelion’s leadership position in the geothermal heat pump market.
The Dandelion Geo delivers the highest heating performance ever measured by industry standards organization AHRI for a production heat pump. Craig Shapiro from Collaborative Fund added “Dandelion is leading the geothermal industry in research and development. Their steady drum beat of product innovations promise a future of affordable, ubiquitous, geothermal heating and cooling across the country.”
About Dandelion Energy
Dandelion Energy is the nation’s leading home geothermal company. By making geothermal heating and cooling systems simple and affordable, Dandelion empowers modern homeowners and home builders to adopt premium, emissions-free heating without a premium price tag.
