Fervo Energy last raised an undisclosed amount in its IPO (Jan 2026).
- ·9 fund marks: filer, period, implied $/share
- ·Direct lines for 12 people on the team
Membership and data by Private Market View
Valuation timeline
3 priced rounds · 1 daily mark since · Aug 2022 – Sep 2026Membership and data by Private Market View
Fervo Energy funding history
11 rounds| Date | Round | Raised | Post-money | $/share |
|---|---|---|---|---|
| Jan 2026 | IPO | — | ▮ | ▮ |
| Dec 2025 | Later Stage VC (Series E) | $462.0M | ▮ | ▮ |
| Jun 2025 | Project Financing | $205.6M | ▮ | ▮ |
| Dec 2024 | Later Stage VC (Series D) | $499.0M | ▮ | ▮ |
| Sep 2024 | Project Financing | $100.0M | ▮ | ▮ |
| Feb 2024 | Later Stage VC | $244.0M | ▮ | ▮ |
| + 5 earlier rounds · a free account shows the full history | ||||
Membership and data by Private Market View
Fervo Energy valuation
Fervo Energy is now publicly traded; this page covers its private-market history, where its last recorded valuation was $2.9 billion (Dec 2025). Secondary trades, fund marks and rounds below are the private-market record; the listed share price is not tracked here.
Recent activity
In the last 90 days, Fervo Energy's record added 4 institutional fund marks (latest period Jul 2026).
How much has Fervo Energy raised?
Fervo Energy has raised $2 billion across 11 recorded rounds since 2021. The largest was a $499 million Series D in Dec 2024; the most recent was an IPO in Jan 2026. 3 of the rounds disclosed a post-money valuation.
Fervo Energy has filed 6 Form Ds with the SEC since 2021, most recently in Dec 2025 ($452 million sold to 39 investors).
Institutional holders and vehicles
4 SEC-registered funds reported 9 fair-value marks on Fervo Energy between May 2026 and Jul 2026, in their N-PORT filings. Filer-level marks and implied per-share values are available to Pro members.
How Fervo Energy's valuation is determined
Private company valuations aren’t quoted on an exchange — they’re established in moments: a priced funding round sets a post-money valuation, secondary trades print at a price per share, and SEC-registered funds holding the stock report fair-value marks in their N-PORT filings.
For Fervo Energy, we compose those signals into the PA Mark — a weighted composite of 4 recent pricing inputs, decayed by age and reset on new rounds. The implied valuation multiplies the mark by shares outstanding. Full methodology →
Frequently asked about Fervo Energy
- What is Fervo Energy worth?
- Fervo Energy's implied valuation is $20.2B, based on the PA Mark composite price of about $37 per share as of Sep 2026.
- How much has Fervo Energy raised?
- Fervo Energy has raised $2.0B in total funding across 11 recorded rounds.
- When did Fervo Energy last raise?
- Fervo Energy last raised in Jan 2026 (IPO).