This Series B round stands as the largest investment in a climate tech SaaS company to date. Here are the top-line bullets you need to know.
Persefoni, a carbon offset investment and accounting platform, has raised $101M in a Series B. This round drew participation from Alumni Ventures Group, Bain & Company, and Clearvision Ventures, among others.
How’s the company performing?
- Arizona-based Persefoni helps asset managers, banks, and financial institutions calculate their financed emissions in accordance with Greenhouse Gas Protocol and the Partnership for Carbon Accounting Financials (PCAF) methodologies.
- The company operates across 8 countries and 18 US states.
- Persefoni counts some of the largest banks, private equity firms, insurance companies, and manufacturing, agriculture, and energy firms as its clients.
Why does the market matter?
- The global carbon footprint management market is projected to grow at a CAGR of 6.2% and reach a value of $12.2B by 2025, according to Markets and Markets.
- The rise of carbon emissions regulations, increased focus on compliance, and business risks stemming from climate change have all contributed to industry growth.
- 200 of the largest global companies estimate that they will collectively incur $1T in climate change-related costs if they do not take measures to address it at present. Additionally, global GDP could drop by 18% over the next 30 years in the case of non-action, according to Swiss Re. The costs associated with non-action have led companies and governments to adopt climate intelligence protocols, boosting this market’s growth.