Dandelion Energy, the nation’s leading home geothermal company, has secured $40 million in Series C funding led by GV (Google Ventures), with support from Collaborative Fund, LenX, Breakthrough Energy Ventures, and NGP. This investment will fuel Dandelion’s two-pronged nationwide expansion: distributing its innovative heat pump technology to installers and homeowners, and implementing large-scale projects for leading home builders and multifamily developers.
This latest funding follows the company’s successful $70 million Series B1 funding in 2022 and reinforces Dandelion’s commitment to making geothermal heating and cooling a mainstream choice. The company’s founder, Kathy Hannun, was recently included on CNBC’s inaugural Changemakers List, highlighting her leadership in the field. Dandelion also welcomed Lauren Howard as Chief Revenue Officer in 2024, bringing significant experience in scaling commercial operations.
Dandelion’s focus on large-scale projects with builders and developers is driving a shift towards fully electrified homes. The company’s CEO, Dan Yates, emphasized that Dandelion is becoming the preferred partner for developers who are looking for high-quality, cost-effective heating and cooling solutions. “Dandelion’s current and upcoming projects range from thousand+ single-family home developments to multifamily buildings with hundreds of apartments,” he stated.
Erik Nordlander, General Partner at GV and Board Member at Dandelion, highlighted the company’s strong position in the market. “We’re proud to be repeat investors in Dandelion as they continue to have an enormous impact in geothermal energy,” he said. “Dandelion’s efficient, scaled operations give the company a unique position in the market.”
In addition to its focus on the builder market, Dandelion continues to lead the industry with innovative product development, making geothermal installations increasingly simple and cost-effective. The recent launch of the groundbreaking Dandelion Geo heat pump reinforces Dandelion’s position as a leader 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 praised Dandelion’s commitment to research and development. “Dandelion is leading the geothermal industry in research and development. Their steady drumbeat of product innovations promise a future of affordable, ubiquitous, geothermal heating and cooling across the country,” he said.
Dandelion’s new CRO, Lauren Howard, is leading the company’s commercial growth strategies. Prior to joining Dandelion, Howard served as Chief Revenue Officer at Airtower Networks, a leading technology company. “I am honored to join Dandelion at such a significant time for the company’s growth and impact towards its mission: to make this renewable, cost-effective and healthy form of heating and cooling more accessible nationwide,” Howard said. “I look forward to working with our teams to make geothermal heat pumps a standard in new residential construction and to drive successful adoption for current homeowners as we build out our nationwide installation network.”
Dandelion Energy’s mission is to make geothermal heating and cooling systems simple and affordable, empowering homeowners and builders to adopt sustainable and emissions-free heating solutions. By focusing on research, development, and strategic partnerships, Dandelion is poised to play a major role in the transition to a more sustainable future.
