ImpactAlpha, April 7 — The climate accountants are coming. The Securities and Exchange Commission’s proposed mandatory climate reporting for publicly traded companies and similar rules in Europe are creating a bull market for climate accounting software. The latest in deals:
Sweep raises $73 million to help corporations track emissions.
The Series B funding, led by the tech-focused investment firm Coatue, follows a $22 million Series A round just three months ago. The Paris-based B Corp’s software helps companies visualize their Scope 1, 2 and 3 emissions and achieve their climate goals.
Deepki raises $166 million to manage real estate emissions.
Paris-based Deepki’s software-as-a-service platform helps global commercial real estate companies track and manage the carbon footprint of their portfolios. Clients include AEW, Allianz Real Estate, Tikehau and BNP Paribas Real Estate. Deepki’s raise will “support even more asset owners in taking on the climate challenge,” said Deepki’s Vincent Bryant.
Accelerated sales cycle.
Tempe, Ariz.-based Persefoni raised $101 million last October from The Rise Fund and Prelude Ventures to expand its “ERP for carbon” platform. The company’s Tim Mohin says the new S.E.C. rules will accelerate competition for carbon management and accounting tools.
“Imagine a sales cycle, you’re trying to convince somebody this is an important thing to do,” Mohin told ImpactAlpha. “Well, the S.E.C. basically says you have to do it. So that is a very short conversation.”