FinTech: Optera Raises $12M For Its Carbon Management Services
Optera offers an ESG and carbon management platform.
Optera, a leader in ESG and carbon management software, has secured $12 million in Series A funding. Next Frontier Capital led the funding round, with participation from Blackhorn Ventures, Mucker Capital, Overture, Engage, Massive, SaaS Ventures, Valo Ventures, AngelList, and Stout Street Capital.
This funding arrives at a pivotal moment in the sustainability sector, coinciding with the SEC and EU’s establishment of climate disclosure rules, and global businesses’ growing interest in decarbonization and derisking their operations and value chains over the next decade.
Optera’s platform enables companies to reduce the climate impacts of their operations, supply chains, and products. Tim Weiss, co-founder and CEO of Optera, emphasized the urgency of transitioning to a low-carbon economy, with Optera’s platform providing accuracy, confidence, and actionability in managing emissions.
The platform currently tracks emissions associated with more than $180 billion in supply chain spending, connecting customers to their value chain and providing tailored support. Zayo, a global communications infrastructure provider, credited Optera for improving their CDP score through emissions data collection and analysis.
Through partnerships like the Responsible Business Alliance, Optera is poised to scale its impact across sector-wide networks. The company experienced substantial growth in the past year, increasing its team by over 250% and quadrupling its customer base, with corporations like Dell and Williams Sonoma trusting Optera to drive their climate action efforts.
Kirsten Suddath, general partner at Next Frontier Capital, praised Optera for making emissions data actionable, instilling confidence in customers to report accurately and progress towards net-zero initiatives. Adrian Tuck, former CEO of Uplight, believes the company is positioned to lead the ESG software market and directly influence corporate net-zero emissions goals.
The Series A funding will fuel Optera’s product innovation and global expansion, with new board members contributing their expertise.
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