SustainCERT completed $37m Series B capital raise to scale the world’s first climate impact verification platform
We are pleased to have acted as exclusive financial adviser to SustainCERT, a global leader in climate impact verification, on its $37m Series B capital raise. The raise will assist SustainCERT scale its value chain decarbonisation impact solution for Scope 3 emissions and launch the first of its kind digital verification solution for carbon markets.
Established in 2018, SustainCERT focuses on bringing credibility to climate impact claims by integrating cutting edge digital solutions with climate expertise to deliver independent impact verification. Alongside accelerating the scale-up of its digital verification platform, the proceeds will also be used to grow the reach of the Value Change Initiative, a multi-stakeholder forum bringing together some of the world’s largest companies and internationally recognised frameworks to define best practices for Scope 3 emission reductions.
The Series B raise was led by Partech, the global technology investment firm, through its newly established Article 9, Partech Impact Fund, which focuses on investing in European impact-native technology companies that are addressing fundamental environmental and social challenges. The round also saw participation from Hartree Partners, a leader in voluntary & compliance carbon markets. Citizen Capital, Innovacom, and Microsoft, existing investors of SustainCERT, also invested in the round.
This transaction reinforces investors’ continued excitement for the ESG sector and differentiated players operating in the market. The transaction also marks Torch Partners’ fifth transaction in the ESG space over the past two years following the sale of Greenstone+ to Cority (Thoma Bravo portfolio company), sale of Envizi to IBM, acquisition of ERM by KKR and acquisition of Fenergo by Astorg and Bridgepoint.
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