Funding the future: Greenly secures $52M to drive carbon management

Greenly proudly announces its successful $52 million Series B funding round. Led by Fidelity International Strategic Ventures, this significant milestone accelerates Greenly's mission to cement environmental accountability as a fundamental aspect of business practices worldwide. This funding round is more than an investment; it's an endorsement of Greenly's position as a global leader in carbon management.

With increasing regulatory requirements for environmental transparency, from the EU's Corporate Sustainability Reporting Directive (CSRD) to the recent SEC climate disclosure rules, Greenly is leading the way in redefining corporate engagement with climate responsibility. Our commitment is unwavering: to provide businesses of all sizes and sectors with the necessary tools and insights for effective carbon footprint management.

As we embark on this next phase of our journey, Greenly is not just part of the sustainability dialogue, we're actively shaping it. Our goal is to make sustainability an integral aspect of business strategy, creating a future where every organisation plays an active role in combating climate change. Read on to learn about Greenly's latest strategic moves and how our new funding is fuelling our commitment to sustainability.

Greenly's inception in 2019 was driven by a clear purpose: to simplify carbon management for businesses, big and small. Our founders, Alexis Normand, Matthieu Vegreville, and Arnaud Delubac, set out on a mission to tackle one of the most pressing issues of our time - global warming. Their collective expertise in technology, data science, and digital communication has been the cornerstone of Greenly's approach to carbon accounting, and with our recent funding success, we're set to expand our impact even further.

Greenly’s growth

The path from our early days to our recent Series B success has been marked by significant achievements. Our initial $23 million Series A funding was a critical milestone that helped fuel our early growth. It allowed us to refine our innovative tech solution, extend our market reach, and strengthen our impact. Since then our customer base has grown to include over 2,000 clients spanning a wide variety of industries, and managing an impressive 50 million tonnes of CO2. 

Greenly’s recent success in securing $52 million in Series B funding represents a landmark moment in our journey. This funding round, led by Fidelity International Strategic Ventures, not only underscores our growing influence in the carbon management sector but also solidifies our position as a frontrunner in this sector. The participation of renowned investors such as BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise, and HSBC, alongside continued support from XAnge and Energy Impact Partners, reflects a shared belief in our mission and a strong vote of confidence in our approach to reshaping corporate carbon responsibility.

This injection of capital is set to propel Greenly's expansion plans, enabling us to extend our global reach and enhance our suite of carbon management tools. Our focus remains steadfast on facilitating a seamless transition for businesses from outdated, manual carbon accounting methods to a more dynamic, technology-driven approach. The funds will be instrumental in refining our software solutions, broadening our service offerings, and increasing our market reach, particularly in the United States and Europe.

The Series B funding will not only support our geographic expansion but also underpin our commitment to continuously improving and innovating our Climate Suite. We aim to further develop features like the Life Cycle Assessment (LCA) Builder, Greenly Cloud, and Greenly Sustainable Procurement, enabling businesses to make more informed decisions about their carbon footprint. 

This capital will also allow us to invest in our Climate Academy, reinforcing our objective to build in-house climate expertise across sectors, and offer specialised knowledge in compliance, accounting methodologies, and eco-design.

Our vision extends beyond financial growth to driving meaningful change in carbon management. By catering to a diverse range of clients across 20 industries, including major names like BNP Paribas, AXA, and L'Oréal, Greenly is demonstrating that effective carbon management is vital for businesses of all sizes and sectors. And we're not just setting ambitious goals - we're delivering meaningful results and empowering businesses to make a real impact on their carbon footprint.

Ambitious targets for a sustainable future

Greenly's vision is not confined to leading in carbon management, we aspire to be the driving force behind a global shift in how businesses manage their environmental impact. Our ambitious goal to manage and reduce 1 billion tons of CO2 by 2030 goes beyond numbers - it's about inspiring a measurable impact in combating global warming. We believe that every business, irrespective of size or sector, can contribute meaningfully to the fight against climate change.

Innovation: the core of our strategy

At Greenly, innovation is the core of our strategy. Our commitment to continuous innovation ensures that our platform and services are not only precise and user-friendly but also at the forefront of technology. By harnessing the power of AI, integrating with a wide array of business applications, and keeping our emission factors database up-to-date, we make carbon management a seamless aspect of everyday business operations. Our vision is to embed sustainability so deeply into business practices that it becomes as fundamental as financial management.

A new world of carbon management

Traditionally carbon accounting relied on manual data entries and static spreadsheets, lacking integration and collaboration. Greenly is introducing a fresh approach, aiming to overcome these hurdles. Through our innovative platform, we streamline data tracking, seamlessly integrate diverse data sources, and offer dynamic insights. Our goal is to empower businesses to take the lead in the energy transition. With Greenly, companies can effortlessly navigate this evolving landscape, driving sustainable change by seamlessly disclosing, complying with regulations, and engaging stakeholders in a shared vision of environmental responsibility.

Behind every successful venture lies a network of strategic partners and investors who share the vision and help drive it forward. Greenly is proud to have gained support from some of the most reputable names in the investment landscape, each bringing invaluable expertise and resources to fuel our mission of transforming carbon management.

Fidelity International Strategic Ventures

Leading our Series B funding round is Fidelity International Strategic Ventures, a dedicated venture capital team within Fidelity International. With a focus on backing bold entrepreneurs driving innovation in finance and beyond, Fidelity's investment underscores their belief in Greenly's potential to revolutionise carbon management and drive sustainable change on a global scale.

XAnge

Joining Fidelity as a key investor in our Series B round is XAnge, a prominent European venture capital firm known for its commitment to supporting early-stage innovative technology companies. With a portfolio spanning sustainability, frontier tech, and AI transformation, XAnge's partnership amplifies our reach and accelerates our growth trajectory.

New and returning investors

In addition to Fidelity and XAnge, our Series B funding round welcomed new investors such as BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise, and HSBC. Their support, alongside existing partners like Energy Impact Partners (EIP), reaffirms confidence in Greenly's vision and strengthens our position as a global leader in carbon management.

Industry leaders 

We are privileged to have industry leaders and visionaries like Brian Halligan, Co-Founder and Chairperson of HubSpot, participating in our funding rounds. Their involvement not only validates our approach but also brings invaluable insights and mentorship to our team.

At Greenly, our mission is not just about setting ambitious goals; it's about delivering real-life results and driving meaningful change in the fight against climate change. Through our innovative platform and comprehensive suite of carbon management services, we've empowered businesses across industries to make a meaningful impact on their carbon footprint.

From small and medium-sized enterprises to multinational corporations, we've seen firsthand the transformative power of carbon management. By providing actionable insights, data-driven strategies, and ongoing support, we're enabling companies to not only track their emissions but also to actively reduce them, paving the way for a more sustainable future.

But our journey is far from over. As we look ahead, we remain committed to pushing the boundaries of innovation, driving continuous improvement, and expanding our reach to even more businesses around the globe. Together, we can build a world where environmental stewardship is not just a responsibility but a fundamental aspect of every organisation's core practices.