GridBeyond Secures €52M Series C Funding for Global Expansion
April 17, 2024, 9:34 pm
Location: Ireland, Leinster, Dublin
Employees: 51-200
Founded date: 2010
Total raised: $72.85M
Dublin-based GridBeyond has successfully closed a €52 million Series C funding round to fuel its evolution as an intelligent energy platform provider. The funding was led by Alantra’s Energy Transition Fund and Klima, with participation from Energy Impact Partners, Mirova, ABB, Constellation, Yokogawa Electric Corporation, and existing investor Act Venture Capital. This investment will support GridBeyond's international expansion efforts, enhance its presence in the US market, and drive further research and development initiatives to advance towards a global zero-carbon future.
GridBeyond, founded by Michael Phelan and Richard O’Loughlin, is a pioneer in smart energy solutions that leverage artificial intelligence to optimize energy generation, demand, and storage for a sustainable future. By connecting distributed energy resources with electricity markets, GridBeyond empowers customers to maximize value from assets like renewables, battery storage, and energy demand loads to improve grid efficiency.
In 2023, GridBeyond made significant strides in the US market by expanding its team, acquiring Veritone Business Energy, launching new products, and doubling its global workforce. The company has achieved impressive revenue growth, averaging a 70% increase annually over the past three years, with projections for continued success in 2024.
With this latest funding round, GridBeyond is poised to accelerate its mission of driving the transition to a zero-carbon economy by harnessing the power of intelligent energy management. As the company continues to innovate and expand its reach, it is paving the way for a more sustainable and efficient energy future on a global scale.
GridBeyond, founded by Michael Phelan and Richard O’Loughlin, is a pioneer in smart energy solutions that leverage artificial intelligence to optimize energy generation, demand, and storage for a sustainable future. By connecting distributed energy resources with electricity markets, GridBeyond empowers customers to maximize value from assets like renewables, battery storage, and energy demand loads to improve grid efficiency.
In 2023, GridBeyond made significant strides in the US market by expanding its team, acquiring Veritone Business Energy, launching new products, and doubling its global workforce. The company has achieved impressive revenue growth, averaging a 70% increase annually over the past three years, with projections for continued success in 2024.
With this latest funding round, GridBeyond is poised to accelerate its mission of driving the transition to a zero-carbon economy by harnessing the power of intelligent energy management. As the company continues to innovate and expand its reach, it is paving the way for a more sustainable and efficient energy future on a global scale.