{"id":1129,"date":"2018-03-27T07:00:30","date_gmt":"2018-03-27T11:00:30","guid":{"rendered":"http:\/\/dandelionenergy.com\/?post_type=press_release&#038;p=1129"},"modified":"2025-09-19T12:42:57","modified_gmt":"2025-09-19T16:42:57","slug":"dandelion-raises-4-5mm-funding-led-new-enterprise-associates-nea-brings-total-funding-6-5mm","status":"publish","type":"post","link":"https:\/\/dandelionenergy.com\/dandelion-raises-4-5mm-funding-led-new-enterprise-associates-nea-brings-total-funding-6-5mm","title":{"rendered":"Dandelion Raises $4.5MM in Funding, Led by New Enterprise Associates (NEA), Bringing Total Funding to $6.5MM"},"content":{"rendered":"<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>New York, NY, March 27, 2018 \u2013 Dandelion, a residential geothermal company that offers homeowners clean and cost-saving heating and cooling technology, announced that it has raised $4.5MM, bringing the company\u2019s total funding to $6.5MM. The round was led by \u200bNew Enterprise Associates\u200b (<a href=\"https:\/\/www.nea.com\/\">NEA<\/a>), with participation from \u200bBoxGroup\u200b, Daniel Yates, and \u200bGround Up\u200b, as well as prior investors \u200bBorealis Ventures\u200b, \u200bCollaborative Fund\u200b, and \u200bZhenFund\u200b.<\/p>\n<h2>Leadership Strengthened with New Board Member<\/h2>\n<p>In conjunction with the financing, Daniel Yates, former CEO &amp; Founder of Opower, joins Dandelion as Executive Board Member and investor. Yates led Opower from its founding to a $1Bn IPO in 2014 and sale to Oracle Corp. in 2016. Opower is the leading consumer energy efficiency software provider to utilities.<\/p>\n<p>\u201cOver the next decade, homeowners across America will replace their expensive, conventional home heating systems with Dandelion geothermal,\u201d said Daniel Yates. \u201cI\u2019m thrilled to be part of the team that will lead this transition.\u201d<\/p>\n<h2>Investor Support and Vision<\/h2>\n<p>\u201cNEA is excited to partner with Dandelion as they scale,\u201d said Andrew Schoen, Principal at NEA. \u201cDandelion delivers meaningful business and environmental returns, providing customers with cost savings and a seamless experience.\u201d<\/p>\n<h2 data-start=\"1468\" data-end=\"1511\">Cutting the Cost of Geothermal<\/h2>\n<p><a href=\"https:\/\/dandelionenergy.com\/technology\">Dandelion\u2019s innovations<\/a> have cut the cost of home geothermal heating and cooling systems in half. The company\u2019s geothermal systems provide heating, cooling, and hot water, and include built-in performance monitoring and a Nest thermostat.<\/p>\n<p>Dandelion\u2019s goal is to enable the widespread adoption of home geothermal. Dandelion started at Alphabet\u2019s X on Google\u2019s campus and launched as an independent company in Spring 2017. Since then, it has had its first successful summer season of home geothermal installations, built a waitlist of thousands of homeowners nationally, and is gearing up for expansion. Earlier this month, Dandelion acquired Geo-Connections, the nation\u2019s leading geothermal Software as a Service (SaaS) company.<\/p>\n<p>\u201cWe have been overwhelmed with demand and support from homeowners across the country,\u201d said Kathy Hannun, Co-Founder &amp; CEO of Dandelion, \u201cThis round will help us ramp up operations to serve these customers and launch our new and improved 2018 offering.\u201d<\/p>\n<h2><strong>About Dandelion<\/strong><\/h2>\n<p>Dandelion\u2019s mission is to enable the widespread adoption of geothermal. The company offers homeowners affordable geothermal heating &amp; cooling systems as an alternative to gas, oil, propane or electric heating. Dandelion began at Google parent company Alphabet\u2019s X lab before launching as an independent company in New York City in May 2017. Dandelion now operates out of New York City. To learn more, visit: \u200bwww.dandelionenergy.com\u200b.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<h2><strong>About NEA<\/strong><\/h2>\n<p>NEA is a leading venture capital firm focused on helping entrepreneurs build transformational companies across multiple stages, sectors and geographies. With more than $20 billion in committed capital, the firm invests in technology companies at all stages, from seed through IPO. NEA ranks among the top venture firms in portfolio IPOs every year, with a track record of successful investing that includes more than 220 portfolio company IPOs and more than 370 acquisitions. For additional information, visit: http:\/\/www.nea.com.<\/p>\n<p>###<\/p>\n<p><strong>Media Contact:<\/strong><br \/>\nKatie Ullmann<br \/>\nDirector of Communications<br \/>\nkatie@dandelionenergy.com<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New York, NY, March 27, 2018 \u2013 Dandelion, a residential geothermal company that offers homeowners clean and cost-saving heating and cooling technology, announced that it has raised $4.5MM, bringing the company\u2019s total funding to $6.5MM. The round was led by \u200bNew Enterprise Associates\u200b (NEA), with participation from \u200bBoxGroup\u200b, Daniel Yates, and \u200bGround Up\u200b, as well [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":7421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[194],"tags":[],"class_list":["post-1129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcement"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dandelion Energy raises $4.5M Series funding - Dandelion Energy | Residential Geothermal Heating &amp; Cooling<\/title>\n<meta name=\"description\" content=\"Dandelion Energy raised $4.5M in new funding, led by NEA with participation from BoxGroup and Daniel Yates, bringing total funding to $6.5M.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dandelionenergy.com\/dandelion-raises-4-5mm-funding-led-new-enterprise-associates-nea-brings-total-funding-6-5mm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dandelion Energy raises $4.5M Series funding - Dandelion Energy | Residential Geothermal Heating &amp; 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