Two years after a successful €21 million Series A, leading carbon accounting firm Greenly has announced a €48 million Series B fundraising round led by Fidelity International Strategic Ventures. With the recent US mandate requiring public firms to report their greenhouse gas (GHG) emissions and the EU’s Corporate Sustainability Reporting Directive driving widespread adoption, Greenly’s most recent funding campaign positions the company as a worldwide leader in a market ready for takeoff.
This fundraising round includes new investors like BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise, and HSBC in addition to Fidelity International Strategic Ventures. Meanwhile, longstanding partners like XAnge and Energy Impact Partners confirm their unwavering support for Greenly. HubSpot co-founder and chairman Brian Halligan took part in the round as well, lending his wealth of expertise to support Greenly’s goals.
Through this funding, Greenly will be able to further establish itself as the leading global provider of the comprehensive Climate Suite, easing the shift from an antiquated model in which companies placed little value on externally sourced climate expertise to developing in-house climate knowledge and putting into practice efficient reduction strategies that enable companies to thrive in the new Energy Transition world.
Alexis Normand, CEO and co-founder of Greenly, said: “Soon, monitoring GHG emissions will become as routine as overseeing financial health. Irrespective of size, industry, or geography, it is essential that all companies have the tools to effectively manage their emissions. This Series B will give us tremendous thrust to make it happen sooner. Greenly’s goal is to enable businesses to navigate more swiftly into a new era, where long-term value is synonymous with sustainable growth. We’re here to simplify carbon management, making it a fundamental aspect of every organization’s core practices. Our focus extends beyond regulatory compliance; we’re fostering a profound transformation towards sustainability within corporate cultures. Our technology is designed to be both precise and user-friendly, inviting everyone to be part of this critical movement.”
With its one-stop shop for corporate environmental activities, Greenly will become a global leader in carbon management with this capital infusion. Beyond meeting SEC reporting requirements or Greenly CSRD compliance requirements, its Climate Suite enables businesses to budget for decarbonization and cut emissions in accordance with global frameworks such as SBTi.
Greenly’s new Climate Academy was founded in 2019 to assist businesses in developing internal climate expertise. It provides managers with certification programs on broad climate strategies, in-depth accounting techniques, and industry-specific eco-design, in addition to specialized knowledge in legal compliance.
With the release of an integrated Life Cycle Assessment (LCA) Builder, product managers and Greenly solutions partners can now disrupt product level emission tracking by providing free LCA templates to an eco-designer community. IT departments can lower emissions associated with data centers by using Greenly Cloud, and Greenly Sustainable Procurement integrates with procurement software to guarantee suppliers actively participate in low-carbon roadmaps.
Commenting on Fidelity’s investment, Erik Mostenicky, Principal at Fidelity International Strategic Ventures, said: “We’re excited to support Greenly as they strive to make emissions management accessible to all. In a short space of time, the Greenly team has developed an impressive platform and range of services that extend beyond mere emissions compliance monitoring. Their offerings empower companies to manage their emissions, proactively engage with suppliers and become part of a greener energy transition. Bolstered by strong regulatory tailwinds, Greenly is well-positioned to lead the global shift towards comprehensive carbon and greenhouse gas emission management. Their efforts mark a significant step towards universal corporate sustainability, and we’re proud to be a part of this transformative journey.”
Fidelma Russo, Executive Vice President & General Manager, Hybrid Cloud & Chief Technology Officer, at Hewlett Packard Enterprise, added: “Achieving sustainability targets in hybrid IT environments can be complex and daunting endeavors for even the most sophisticated enterprises. HPE’s investment in Greenly aligns with the commitments we’ve made to our customers to help and support them on their sustainability journeys. We’re excited to partner with Greenly in providing the tools necessary for businesses to monitor, track, and minimize their carbon footprint within their IT infrastructure.”