Funding round
Intersect Growth
Reported as "Growth Equity"
Intersect, which works in energy infrastructure project delivery in United States, raised $127M in a Growth round announced on 26 Jan 2021. 2 firms took part. It is Intersect's first venture round on record.
$127M
Amount raised
Not disclosed
Post-money valuation
2
Investors
no lead named
Valuation
What this round says about the price
Intersect did not disclose a valuation in this round. It is Intersect's first venture round on record, 9 years after it was founded in 2012. It is 14% of the $877M Intersect has raised in the venture rounds on record. Intersect raised again 17 months later: a Growth round of $750M in Jun 2022.
Intersect's funding rounds
Intersect has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Debt not a venture round 26 Jan 2021 $482M
- Growth this round 26 Jan 2021 $127M
- Growth 28 Jun 2022, led by TPG $750M
- Other not a venture round 23 Sep 2025, led by Climate Adaptive Infrastructure $41M
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- backs 2 venture-backed companies new investor
- backs 4 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
13 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $100M, and this round was 1.3 times the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 4 Jan 2021 | $25M | not disclosed | not named |
| Highview Power Renewable energy companies | 8 Feb 2021 | $70M | not disclosed | not named |
| Renewable energy companies | 16 Feb 2021 | $40M | not disclosed | not named |
| NewLink Renewable energy companies | 22 Mar 2021 | $200M | not disclosed | Bain Capital Private Equity and Bain Capital |
| Renewable energy companies | 31 Mar 2021 | $25M | not disclosed | not named |
| Renewable energy companies | 30 May 2021 | $73M | not disclosed | Pioneer Point Partners |
| Renewable energy companies | 13 Sep 2021 | $110M | not disclosed | not named |
| Renewable energy companies | 28 Sep 2021 | $100M | not disclosed | Vision Ridge Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Intersect raise in its Growth round?
Intersect raised $127M in its Growth round, announced in Jan 2021.
Which investors took part in Intersect's Growth round?
Climate Adaptive Infrastructure and Trilantic North America.
What was Intersect's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
13 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $100M, and this round was 1.3 times the median.
Did Intersect raise again after this round?
Yes: a Growth round in Jun 2022 of $750M.