Emerald AI Raises $150 Million Series A at $1.05 Billion Valuation

Gunderson Dettmer represented Emerald AI in its oversubscribed $150 million Series A financing at a valuation of $1.05 billion. The round was co-led by Energize Capital and DCVC, joined by a global group of leading financial and strategic investors–the company now counts 12 Fortune Global 500 companies as investors. 

Emerald AI transforms data centers into intelligent, responsive assets that are good grid citizens and protect energy affordability and reliability for local communities. The Emerald Conductor software platform dynamically orchestrates AI computational workloads and onsite energy resources to control a facility's power draw when the grid is stressed while protecting the performance of critical AI workloads. The company will use the new capital to scale commercial deployments worldwide with its customers, which include leading AI firms, data center operators, and electric power utilities. 

“We founded Emerald AI on the conviction that the intelligence driving the AI revolution could solve its own greatest bottleneck: power,” said Emerald AI Founder and CEO Dr. Varun Sivaram, in the announcement of the transaction. “Our demonstrations around the world proved that data centers can adjust their power use precisely when the grid needs relief, without compromising critical computing workloads. Today that technology runs commercially at full data center scale, and this financing lets us take it everywhere AI is built, so the AI era can accelerate while the grid becomes more reliable and more affordable for the communities it serves.”

The Gunderson deal team was led by David Gammell and Tim Kulis and included Kelly Flanagan, Alexandra Noymer, and Nick Venora.