Launches free carbon accounting platform for SMBs
Climate management and accounting platform Persefoni announced today that it has raised $101 million in a Series B financing round, with proceeds aimed at accelerating the company’s geographic and product expansion plans.
According to Persefoni, the announcement marks the largest investment round by a Climate Tech SaaS company, and brings the company’s total capital raised to date to over $114 million, including a $9.7 million Series A round completed in April. The current round was led by Prelude Ventures and TPG Rise Climate, with participation from existing investors including NGP Energy Technology Partners and Sallyport Investments, and new investors Clearvision Ventures, Parkway Ventures, Bain, power utility EDF, Sumitomo Mitsui Banking Corporation (SMBC), The Ferrante Group, Alumni Ventures Group, and New Valley Ventures.
Launched in 2020, Persefoni’s SaaS platform enables enterprises and institutional investors to measure, analyze, plan, forecast, and report on their carbon footprint, leveraging AI to provide users with contextual sustainability performance scores for their organization and allowing them to manage their carbon transactions and inventory with the same rigor as their financial ones. The company helps banks, asset managers and other financial institutions to calculate their financed emissions footprint in compliance with standards such as the Greenhouse Gas Protocol and the Partnership for Carbon Accounting Financials (PCAF), and already counts several of the world’s largest banks and private equity investors among its clients.
Today’s announcement included strategic corporate partnerships with some of the participating investors, including Bain, EDF, and SMBC.
Kentaro Kawamori, CEO & Co-Founder of Persefoni, said:
“Carbon and climate disclosures will be the biggest compliance market since the advent of Sarbanes Oxley and GDPR, but with even greater complexity. The market is rife with data and software solutions that create new proprietary methodologies every day, and our customers are beyond tired of that approach. We work daily with the world’s pre-eminent industry standards setters and regulators to enable transparency and trust at the highest levels. As disclosure requirements continue to accelerate, every CEO, CFO, and Board Director is looking for a solution like Persefoni because they know it was purpose-built for the enterprise first.”
Persefoni also made a series of product announcements today, including the rollout of a free tier of its carbon accounting platform for SMBs. Additionally, the company is introducing a climate scenario modelling solution, integrating the Science Based Targets initiative’s (SBTi) Temperature Scoring Model, enabling users to create models for their organizations aligned with 1.5C or 2C implied temperature rise.
“Persefoni is purpose-built to support the most complex use-cases across carbon foot printing and financed emissions calculations for global enterprises. Today, we’re very excited to bring that innovation to a much larger set of the market with the announcement of our Free-Tier product, as Persefoni works to democratize carbon accounting to all companies around the globe.”
The post Carbon Measurement Platform Persefoni Raises $101 Million appeared first on ESG Today.