Companies · AI / ML

Crusoe Energy Holdings Inc.

DENVER · AI / ML · refined from filed group “Other · https://www.crusoe.ai/

Diligence memoA one-page analyst read on Crusoe Energy Holdings Inc. — recommendation, valuation, rhythm, risks.
$2.2B
Total raised · real
4
Rounds
1.5×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Wed Oct 08 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Crusoe Energy Holdings Inc. looks fair against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the ai/ml sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.28× the median modeled value of Growth/Late AI / ML companies in 2025–2027 (8 peers) — value vs value, same stage and era.
  • Within the normal band (128% of peer median) for its niche.
Active
  • Last raise 9 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Crusoe Energy Holdings Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
4.2 yr record
Peak capital year was 2025 with $1.0B across 1 filings.
Market position
ahead of 100% of AI / ML peers
Capital scale is ahead of 100% of AI / ML peers; modeled value is above 100% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Some evidence
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • Capital program peaked in 2025: $1.0B across 1 filings.
  • Largest single filing was $1.0B on 2025-10-08.
  • Filing rows sum to $2.4B, while canonical raised total is $2.2B; likely amendments/superseded rows are mixed into the detail view.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • Canonical filtering should be tightened before using row-level totals for diligence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in AI / ML

Crusoe Energy Holdings Inc. is one of 2067 AI / ML companies tracked from DENVER. By capital raised it ranks among the largest (ahead of 100% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Crusoe provides next-gen AI infrastructure and cloud compute using an energy-first approach. Deploy AI workloads at scale with reliable performance and 24/7 support.

Crusoe provides next-gen AI infrastructure and cloud compute using an energy-first approach. Deploy AI workloads at scale with reliable performance and 24/7 support. Inside the cluster: How AI teams actually orchestrate at scale. June 30 at 10AM PT/1PM ET. Inside the cluster: How AI teams actually orchestrate at scale. June 30 at 10AM PT/1PM ET. Now with Crusoe Managed Inference for breakthrough speed and scale. Our proprietary inference engine, built with Crusoe's MemoryAlloy technology, maintains ultra-low latency and scalable throughput for large-context AI workloads, even at peak demand. Use the intuitive Crusoe Intelligence Foundry to select models, generate API keys, and go to production quickly while delivering accelerated time-to-first-token (up to 9.9x faster). Build with top open/open-source models or work with our team to optimize performance for your own fine-tuned model. Features high-performance NVIDIA & AMD compute, accelerated storage, and optimized RDMA networking to deploy models up to 20x faster and cut costs by up to 81%. Crusoe Managed Kubernetes, Crusoe Managed Slurm, and fault-tolerant Crusoe AutoClusters eliminate operational overhead. Crusoe Cloud provides

ai/ml
Find Crusoe online

Trades publicly as Crusoe.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
71
Investors (latest)
2022
Year incorporated
2025-10-08
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$5.0B$10.0B$15.0B$20.0BSeries D+ · 2022-04-08 Raised $308M (real) Modeled valuation $7.5B (est)$308M$7.5BSeries D+2022Series D+ · 2023-11-22 Raised $144M (real) Modeled valuation $2.2B (est)$144M$2.2BSeries D+2023Series D+ · 2023-11-22 Raised $192M (real) Modeled valuation $2.9B (est)$192M$2.9BSeries D+2023Growth/Late · 2024-11-06 Raised $686M (real) Modeled valuation $9.3B (est)$686M$9.3BGrowth/Late2024Growth/Late · 2025-10-08 Raised $1.0B (real) Modeled valuation $11.0B (est)$1.0B$11.0BGrowth/Late2025+$144M+$192M+$686M+$1.0BCumulative $2.4B

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series D+$307.9M · 2022
Series D+ extension$143.7M · 2023
Series D+ extension$192.4M · 2023
Growth/Late$685.7M · 2024
Growth/Late extension$1.0B · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 29%.

Modeled valuation trajectory
$11.0B
Base estimate est.
$7.9B
Conservative case
$12.6B
Upside case
$10.3B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the ai/ml sector profile. Directional, not a quoted figure.

Series D+ · modeled $7.5B · 2022-04-082022Series D+ · modeled $2.2B · 2023-11-22Series D+ · modeled $2.9B · 2023-11-22Growth/Late · modeled $9.3B · 2024-11-06Growth/Late · modeled $11.0B · 2025-10-082025
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
88%
Survival probability
76% low · 95% high
1.30×/yr
Annual markup
1.42×/yr upside case
0.7 yr
Elapsed time used
0.7 yr actual, capped for stale marks
ai/ml
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$632.1M/yr
Capital velocity
4.2 yr
On record since
2022
First round
5
Rounds on file
How it compares to the market

Benchmarked against 2067 companies in AI / ML. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 468× above median
This company$2.2B
Sector median$4.7M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 1.8× above median
This company$1.0B
Sector median$575.3M
Modeled value — vs sector median (estimate, all stages) 393× above median
This company$11.0B
Sector median$27.9M

Raised more than 100% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #3 of 8.

This companyCohort peer
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0B$100.0BCapital raised (log)Databricks, Inc. · Growth/Late Raised $12.1B · modeled $41.5B (est)Genesys Cloud Services Topco LLC · Growth/Late Raised $1.8B · modeled $16.8B (est)Integris AI Healthcare Group, Inc. · Growth/Late Raised $1.0B · modeled $9.5B (est)Grammarly, Inc. · Growth/Late Raised $1.4B · modeled $7.6B (est)Lightning AI, Inc. · Growth/Late Raised $435.5M · modeled $4.4B (est)Lovable Labs Inc · Growth/Late Raised $637.9M · modeled $4.3B (est)Snowflake Computing, Inc. · Growth/Late Raised $2.4B · modeled $3.7B (est)Crusoe Energy Holdings Inc. (this company) Raised $2.2B · modeled $11.0B (est)Crusoe Energy Holdings Inc.
CompanyStageRaised · realValue · estvs peer med.
Databricks, Inc.Growth/Late$12.1B$41.5B4.84×
Genesys Cloud Services Topco LLCGrowth/Late$1.8B$16.8B1.96×
Crusoe Energy Holdings Inc. this companyGrowth/Late$2.2B$11.0B1.28×
Integris AI Healthcare Group, Inc.Growth/Late$1.0B$9.5B1.11×
Grammarly, Inc.Growth/Late$1.4B$7.6B0.89×
Lightning AI, Inc.Growth/Late$435.5M$4.4B0.51×
Lovable Labs IncGrowth/Late$637.9M$4.3B0.51×
Snowflake Computing, Inc.Growth/Late$2.4B$3.7B0.43×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series D+$307.9M2022-04-08$2.6B$7.5B90%
Series D+$143.7M2023-11-22$1.2B$2.2B90%
Series D+$192.4M2023-11-22$1.6B$2.9B90%
Growth/Late$685.7M2024-11-06$6.9B$9.3B90%
Growth/Late$1.0B2025-10-08$10.3B$11.0B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series D+$307.9M2022-04-08
    • First recorded raise — entered as Series D+.
    • 44 investors on this round.
  2. Series D+$143.7M2023-11-22
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  3. Series D+$192.4M2023-11-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.3× larger than the prior — scaling up.
    • 37 investors on this round.
  4. Growth/Late$685.7M2024-11-06
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 3.6× larger than the prior — scaling up.
    • Switched to Rule 506(c) (was Rule 506(b)).
    • 70 investors on this round.
  5. Growth/Late$1.0B2025-10-08
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 71 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~11mo cadence
$1.5B
Modeled next size est.range $1.0B$2.5B
1.5×
Last step-up
$632.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Nael Kassar10 other2022-04
Ben Kortlang6 other2022-04
STEFAN COHEN3 other2022-04
VIVEK PATTIPATI3 other2022-04
Charles Cavness1 other2022-04
Chase Lochmiller1 other2022-04
Jamey Seely2022-04
Matthew DeNezza2022-04
Sean Liu2024-11
Xiangyu Liu2025-10
Registry & provenance

Crusoe Energy Holdings Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1924674
SEC CIK
2022
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Crusoe Energy Systems Inc.Energy / ClimateSeries D+$128.0M$1.6Bnetwork4 shared operators
Snowflake Computing, Inc.AI / MLGrowth/Late$2.4B$3.7Bsame sector · same stage
Clinigence Holdings, Inc.AI / MLGrowth/Late$2.5B$56.0Msame sector · same stage
Genesys Cloud Services Topco LLCAI / MLGrowth/Late$1.8B$16.8Bsame sector · same stage
Twilio IncAI / MLGrowth/Late$3.2B$12.2Bsame sector · same stage
Grammarly, Inc.AI / MLGrowth/Late$1.4B$7.6Bsame sector · same stage
CoreWeave, Inc.AI / MLGrowth/Late$1.2B$17.7Bsame sector · same stage
Integris AI Healthcare Group, Inc.AI / MLGrowth/Late$1.0B$9.5Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
PropRise
The AI platform for CRE investment teams
Insurance79%
Talking Computers
AI for AI Infrastructure
AI / ML77%
Cumulus Labs
The Fastest Multimodal Inference OS
AI / ML77%
Halluminate
Data and RL environments to automate knowledge work
AI / ML76%
SF Tensor
Infrastructure for AI labs to focus on research.
AI / ML76%
Rescale, Inc.
High Performance Computing Built for the Cloud
PharmaSeries B$996.3M76%
CoreWeave, Inc.
CoreWeave is the force multiplier that empowers pioneers with momentum, magnitude, and mastery—enabling them to innovate with confidence. Explore the #1 AI Cloud.
AI / MLGrowth/Late$17.7B76%
Abundant
Agent simulation and RL for researchers
AI / ML76%
Frequently asked
How much funding has Crusoe Energy Holdings Inc. raised?
Crusoe Energy Holdings Inc. has raised approximately $2.2B in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Crusoe Energy Holdings Inc.'s estimated valuation?
Provath's modeled valuation for Crusoe Energy Holdings Inc. is approximately $11.0B (modeled range $7.9B–$12.6B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Crusoe Energy Holdings Inc. at?
Crusoe Energy Holdings Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Wed Oct 08.
What does Crusoe Energy Holdings Inc. do and where is it based?
Crusoe Energy Holdings Inc. operates in the AI / ML sector, based in DENVER. Crusoe provides next-gen AI infrastructure and cloud compute using an energy-first approach. Deploy AI workloads at scale with reliable performance and 24/7 support.
Explore related

See where Crusoe Energy Holdings Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at Crusoe Energy Holdings Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.