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§ Private Profile · Mount Kisco, NY, USA
Geothermal heating and cooling systems provider for residential homeowners, focused on affordable, high-efficiency earth-powered HVAC.
Dandelion Energy is a New York City-based company that provides residential geothermal heating and cooling systems by replacing traditional HVAC units with ground-source heat pumps. The business currently operates as the largest home geothermal provider in the United States, managing both direct installations and a marketplace that connects homeowners with local installation contractors. To date, the enterprise has successfully completed over 500 home installations across the Northeastern region, including markets in New York, Connecticut, Massachusetts, and Vermont. The organization has secured significant venture capital to scale its regional operations, including a $16 million Series A and a subsequent $30 million funding round led by Bill Gates' Breakthrough Energy Ventures. Dandelion Energy originally began as a project within Alphabet's X lab before spinning out as an independent entity in 2017 under the direction of founder Kathy Hannun.
Dandelion Energy has raised $175.0M across 7 funding rounds.
Dandelion Energy has raised $175.0M in total across 7 funding rounds.
Dandelion Energy has raised $175.0M across 7 funding rounds. Most recently, it raised $40.0M Series C in September 2024.
Dandelion Energy is a technology company specializing in residential geothermal heating and cooling systems, offering turnkey design-build services that replace traditional HVAC with efficient, emissions-free geothermal heat pumps.[3][4] It serves homeowners, home builders, and multifamily developers primarily in the Northeastern U.S., solving high energy costs, fossil fuel dependence, and inefficiency in heating/cooling by harnessing underground geothermal energy for systems that are over 4x more efficient than furnaces and 2x more efficient than air-source heat pumps.[1][4] The company has demonstrated strong growth, with thousands of installations, revenue doubling year-over-year, over 2,000 systems deployed across various property types, and $175.5M in total funding including a $40M Series C in 2024.[1][3][5]
Dandelion Energy emerged from Google X (now X, the moonshot factory) before spinning out as an independent company in 2017, founded by CEO Kathy Hannun, who was named one of Fast Company's most creative people in 2018.[2][5] Hannun brought expertise from her prior ventures, including taking one company public and exiting another via acquisition.[1] The idea stemmed from advancing geothermal HVAC to make it simple and affordable, starting with the 2018 launch of Dandelion Air—the first sub-$20,000 geothermal heat pump, financed over 20 years and installed in residential backyards.[2] Early traction included a $16M Series A in 2019, expansion to Connecticut in 2020, and rapid scaling with thousands of Northeast installations.[1][2]
Dandelion rides the clean energy transition trend, capitalizing on geothermal's 75-year U.S. history and rising demand amid 80,000+ annual new installations, fueled by federal incentives like the Inflation Reduction Act's $400B in clean energy funds.[4][5] Timing aligns with advancements in heat pump tech and policy pushes for decarbonizing buildings, which consume significant fossil fuels; market forces include efficiency mandates, EV synergies, and resilience against extreme weather.[1][4][5] It influences the ecosystem by pioneering affordable geothermal (e.g., nationwide Geo launch), partnering with builders, and driving adoption—shifting homes from fossil fuels while enabling developers to maximize property value without visible equipment.[3][4]
Dandelion is poised for nationwide expansion post-$40M Series C, targeting more regions beyond the Northeast and Colorado with its proprietary tech and incentives.[1][3] Trends like IRA rebates (despite potential policy shifts), heat pump efficiency breakthroughs, and multifamily/commercial demand will shape growth, potentially accelerating to millions of installs as costs drop further.[4][5] Its influence may evolve from regional pioneer to national standard-setter, vertically integrating more software and hardware to dominate resilient, low-carbon HVAC—reinforcing its mission to make geothermal as accessible as traditional systems.[2][4]
Dandelion Energy has raised $175.0M in total across 7 funding rounds.
Dandelion Energy's investors include 2150, Breakthrough Energy Ventures, Darren Liccardo, Rouz Jazayeri, ClimacticVC, Craig Shapiro, Collaborative Fund, Comcast Ventures, Jenny Fielding, Scott Hartley, Erik Nordlander, GV.