If businesses are going to meet their increasingly aggressive goals to reduce greenhouse gas emissions associated with their operations, they will have an accurate picture of what those emissions look like. To get that picture, companies are increasingly turning to businesses such as Sweep, which announced its commercial launch today.
The Parisian company boasts an impeccable pedigree in enterprise software with a founding team. Co-founders Rachel Delacourt and Nicolas Raspel were co-founders of BIME Analytics, which was acquired by Zendesk. And together with Zendesk’s colleagues Rafael Guler and Yannick Chase, and Net Zero Initiative’s founder, Renaud Bettin, they have created a software toolkit that gives companies a beautiful view into not only the company’s carbon emissions, but as their suppliers I thoroughly.
It is the backdrop of the team that first attracted investors to Pia d’Ibrian, co-founder and managing partner, New Wave, which made its first climate-focused investment in a software developer.
“We decided to invest before closing the fund. “We have officially invested in December or January.”
New Wave was not the only investor affected by the company’s prospects. The new European climate-focused investment firm 2050, and La Fimiglia, a fund that has strong ties with large European industrial companies, participated in the Bay Area with several anonymous angel investors. All Sweep raked in $ 5 million for its product before it even launched a beta.
Sweep gives users the ability to visualize each location of a company’s business by brand, location, product, or division, and see how different granular operations contribute to a company’s overall carbon footprint. Users cannot share carbon data with external suppliers and distributors to those nodes.
The effects of climate change are increasing, and companies across industries are motivated to do their job. But today’s carbon reduction efforts are being stalled by complex means and resources that cannot match the urgency of the threat. By putting automation, connectivity and collaboration at the heart of the platform, Sweep is about to offer companies an efficient mechanism to deal with their indirect Scope 3 emissions, and from a discussion turn net zero into reality.
Like other companies on the market with carbon monitoring and management solutions, Sweep also provides the ability to finance offset projects directly from its platform. And, like those other companies, sweep offsets are primarily in the forestry sector.
“Worldwide, companies are under pressure from customers, investors and regulators to take action to reduce their emissions.” “As a result, we are seeing unprecedented growth in the climate technology market and we hope that this explosion will continue. The issue, which is confined to a company’s sustainability team, is now a front-and-center business objective with the CEO’s commitment. We invested in Sweep because of their success in developing sustainability and state-of-the-art, end-to-end SaaS platforms globally. It is the right team and the right product at the right time. “