Climate Tech SaaS Startup Persefoni Announces $ 101 Million in Series B and Free Carbon Accounting Product Launch
TPG’s Prelude Ventures and The Rise Fund lead a $ 101 million Series B investment in Persefoni – the largest investment round ever in a Climate Tech SaaS company.
TEMPE, Arizona., 28 October 2021 / PRNewswire / – Persefoni, the leading climate management and accounting platform (CMAP) for businesses and financial institutions, today announced that it has raised $ 101 million in its Series B round. Prelude Ventures and The Rise Fund led the round with the participation for the first time of Clearvision Ventures, Parkway Ventures, Bain & Co., EDF Group through its corporate venture arm EDF Pulse Holding, Sumitomo Mitsui Banking Corporation (SMBC), The Ferrante Group, Alumni Groupe Ventures and New Valley Ventures. Existing investors including NGP Energy Technology Partners, Sallyport Investments and strategic angel investors have also returned to participate. The round is the most important in the history of Climate Tech for a SaaS company.
As the market leader with a category creating end-to-end digital computing capabilities for financed issues, Persefoni quickly cemented a leadership position in helping asset managers, banks and other financial institutions to calculate their funded emissions footprint in a fully verifiable manner. and conforms to the methodologies of the Greenhouse Gas Protocol and the Partnership for Carbon Accounting Financials (PCAF). Today, four of the world’s 10 largest private equity firms and four of the world’s 20 largest banks already use Persefoni to calculate and disclose their funded emissions footprint, as well as several global insurance companies and pension funds. /dotation funds.
Simultaneously, Persefoni works with companies in the enterprise sector in a wide number of industries, including manufacturing, agriculture, energy, clothing, retail, software and business services. Persefoni’s approach as the market’s first ‘ERP for carbon data’ enables companies around the world to calculate and disclose their global carbon footprint at a fraction of the traditional cost of manual and consultancy, while dramatically increasing the cost of trust and transparency in the results.
Persefoni’s platform focuses on global benchmarks for sustainability frameworks, avoiding proprietary computational and data research approaches that create gaps in trust and ultimately disclosure issues. due to a lack of auditability.
“Carbon and climate disclosures will be the largest compliance market since the advent of Sarbanes Oxley and the GDPR, but with even greater complexity,” said Kentaro Kawamori, CEO and co-founder of Persefoni. “The market is full of data and software solutions that create new proprietary methodologies every day, and our customers are exhausted by this approach. We work daily with the industry’s leading standard setters and regulators to enable transparency and trust at the highest levels. Disclosure requirements continue to accelerate, with every CEO, CFO and board director looking for a solution they know was first designed specifically for the business – like Persefoni. “
By allowing customers to process their carbon transactions with the same rigor and confidence that they manage their financial transactions, Persefoni continues to accelerate its leadership position in the Climate Tech industry, with the aim of combating the climate change around the world. The Series B investment brings the total capital raised to $ 114.2 million and support the company’s expansion plans beyond its existing organization in 18 US states and eight countries. As part of the funding, Victoria beasley, general partner at Prelude Ventures, and Steve ellis, co-manager of The Rise Funds, have joined the board of directors.
“Persefoni is very much aligned on its mission with Prelude, where our goal is to enable a net zero carbon future,” said Victoria beasley, general partner of Prelude and member of the board of directors of Persefoni. “Since our creation in 2013, we have been looking for a solution that meets the needs of companies wishing to take ownership of their carbon footprint. I have evaluated more than twenty startups geared towards this issue, but none of them could match the conviction, market strategy and long-term vision of the Persefoni team. “
Ellis added, “Technology-based impact solutions like Persefoni are becoming essential tools for companies looking to achieve their sustainability goals. By streamlining, digitizing and automating the previously arduous manual accounting process for emissions data, Persefoni enables greater reliability and comparability of sustainability. information at a time when climate disclosures are becoming legally mandatory financial disclosures. Kentaro and his team have built the preeminent global SaaS business in the climate technology industry and we look forward to supporting them as they continue to scale the platform. “
Persefoni’s B Series also marks the first time the company has entered into strategic partnerships with Bain & Co., EDF Group (EURONEXT: EDF) and SMBC (TYO: 8316).
On the back of Bain & Company and Persefoni’s one-of-a-kind partnership Creating critical decarbonization solutions for the private equity and institutional investment markets, the companies are also announcing the company’s participation in this cycle as a strategic investor.
“We have combined Bain & Company’s expertise in carbon transitions and investor priorities with Persefoni’s industry-leading carbon accounting platform to deliver unprecedented solutions to our clients as part of their net zero journey. , solutions linked to value creation and based on facts ”, mentioned Torsten Lichtenau, Global Head of Bain & Company’s Carbon Transition Impact Zone. “This partnership helps Bain clients manage their carbon inventory with the same rigor and transparency as their financial metrics.”
The EDF group, through its corporate venture branch EDF Pulse Holding, has also invested with Persefoni. “As a global leader in low-carbon energy, our customers rely on us to guide them to the best carbon management solutions on the market. The first step in being able to reduce a carbon footprint is to measure it and to understand it all the time, and there is no better technology than Persefoni’s platform for this in the enterprise segment. ” noted Julien villeret, innovation director of the EDF group.
SMBC’s investment coincides with from Japan Financial Services Agency announcing that approximately 4,000 companies, including those listed on the Tokyo Stock Exchange, are due to start disclosing their carbon footprint in 2022. As a clear leader at the national level in mobilizing efforts and investments to achieve the net zero, the partnership with SMBC is a statement to innovation partnership that the two companies will bring to the Japanese and global banking markets.
Persefoni also announces a new $ 10 million investing in the Japanese market over the next 12 months to complete the localization of product capabilities and rapidly expand its existing national presence through customer and partner support functions.
Persefoni separately announced two major product releases:
A free tier of its core carbon accounting platform in Q1 2022 that will enable SMEs to quickly and reliably produce reliable carbon inventories with confidence and ease. More details in this press release.
Modeling of climate scenarios. Persefoni has integrated the Science-Based Target Initiatives (SBTi) temperature score model to allow users to instantly create models of implicit 1.5 ° C or 2 ° C temperature rise for their organizations as they plot the way to align with the goals of the Paris Agreement. More details in this press release.
“Persefoni is uniquely designed to support the most complex use cases in terms of carbon footprints and funded emissions calculations for global companies. Today, we are very excited to bring this innovation to more markets with the announcement of our next-level product, as Persefoni strives to democratize carbon accounting for all companies around the world ”, Kawamori said. More details in this press release.
For more information on Persefoni, please visit https://persefoni.com/.
Persefoni is the leading climate management and accounting platform (CMAP). The Company’s Software-as-a-Service solutions enable businesses and financial institutions to meet stakeholder disclosure and regulatory climate requirements with the highest levels of trust, transparency and ease. As Carbon’s ERP, the Persefoni platform provides users with a single source of carbon truth across their organization, allowing them to manage their carbon transactions and inventories with the same rigor and confidence as their financial transactions.
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