Climate analytics provider Risilience announced that it has raised $26 million, with proceeds aimed at expanding its climate-risk assessment and net-zero planning SaaS platform.
Launched in 2021 as a spinout of the Centre for Risk Studies at the University of Cambridge Judge Business School, Risilience provides solutions enabling companies to measure and balance the potential financial impacts with the cost of transitioning their business to operate more profitably in a low-carbon economy. The company’s platform provides data-based insights allowing organizations to quantify the scope, magnitude and timescale of climate risk to their strategies and operations.
Risilience CEO Dr. Andrew Coburn said:
“We believe that the road to net zero presents an opportunity as well as a risk for global enterprises and our unique combination of technology combined with world-class risk science supports our clients to mitigate risks, as well as capitalise on opportunities. With companies under increasing regulatory and shareholder pressure to understand, report and mitigate their potential climate impact, this additional equity funding will help us support them at each stage of their journey.”
With the closing of the $26 million series B financing round, the company said that the new funds will help expand its SaaS platform and drive international expansion, with plans to specifically focus on the US market, where pending SEC rules will require climate and risk disclosures.
Risilience’s clients include Nestlé, Burberry, Coca-Cola Europacific Partners, Reckitt, easyJet and Tesco.
The funding was led by energy transition-focused investor Quantum Energy Partners’ Quantum Innovation Fund, alongside existing investors IQ Capital and National Grid Partners.
Jeffrey Harris, Partner at Quantum Innovation Fund, said:
“Risilience has demonstrated that its underlying technology platform allows large companies to better understand how best to transform their businesses and to meet the impact of climate change on their business models, supply chains and financial performance while optimising long-term capital allocation.”
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