Gorilla raises €23M Series B

Gorilla, a technology company that enables energy retailers to gather and process vast amounts of critical data, has raised a €23M Series B.

The round is led by global venture capital firm Headline, with support from existing investors Beringea and the Flemish investment company PMV, Gorilla will use this funding to further its expansion into the United States and German markets.

Gorilla's solutions help utility companies understand energy portfolios that increasingly are influenced by distributed energy resources like solar panels, wind turbines, and battery storage, ensure operational stability, and provide bespoke pricing strategies based on individual usage patterns.

Gorilla’s cloud-based data processing platform enables energy companies to achieve significant improvements in efficiency and performance compared to the current generation of on-premise solutions and overreliance on spreadsheets.

The company's customers include known energy retailers in the United Kingdom, Germany, United States, and Australia such as Centrica Business Solutions (formerly British Gas), ScottishPower, Shell Energy, Gas South, SouthStar, Synergy, Drax, and ENGIE. 

“No one knows what the energy sector will look like 10 years from now. But in the path towards it, innovation is key. This investment into Gorilla will help energy retailers across the globe become more agile in their commercial offering while pushing or getting pushed towards net zero,” stated Ruben Van den Bossche, Co-founder and CEO of Gorilla.

"This funding supports our expansion into major markets like the U.S. and Germany, where the energy landscape is rapidly evolving and seeing increasing demand for data-driven solutions. Take Texas, for example—electricity prices in Houston have risen by nearly 16% over the past year, with Texans paying twice as much for electricity compared to pre-pandemic prices. Since 2022, prices have remained volatile despite the low cost of the natural gas that powers much of the grid, meaning consumers have continued to experience instability in delivered prices for residences.”

“The transition to renewable energy sources, with intermittent and weather-dependent generation, results in higher grid volatility. The timing of energy consumption is crucial. Gorilla helps energy providers navigate this increased complexity. They are delivering the missing piece needed to better synchronize supply and demand. With Europe at the forefront of renewable energy generation, Headline believes that globally leading software solutions for the energy market will emerge from this region, and Gorilla is a prime example,” says Jonathan Becker, General Partner at Headline.

Piotr Bukanski, Investment Manager at Beringea, commented: “Gorilla is perfectly positioned to address energy retailers’ growing pain points, directly supporting them in the energy transition, and it is quickly becoming an industry standard. The growth that the team has delivered since Beringea’s initial investment has been exceptional. We are, therefore, excited to participate in this round and strengthen our support for the company in its next phase of growth.”