Fervo Energy raised $244M in a funding series TBD led by Devon Energy Corp. and Glean raised $200M in a funding series D led by Kleiner Perkins and Lightspeed Venture Partners.
Mar 01, 2024•almost 2 years ago
Amount Raised
$542
Round Type
series d
Investors
Lightspeed Venture PartnersKleiner PerkinsDevon Energy Corp.
Description
Fervo Energy, a geothermal developer, locked up a big $244 million round led by shale oil and gas firm Devon Energy Corp. The new cash will support Fervo’s new drilling operations in Utah — which will begin delivering clean electricity to the grid in 2026. Glean, an AI-enhanced work assistant and enterprise search startup, locked up a more than $200 million Series D at a $2.2 billion valuation in a round led by Kleiner Perkins and Lightspeed Venture Partners.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech