Plan A, a leading European provider of corporate carbon accounting, decarbonization, and ESG reporting software, has successfully closed a $27 million funding round. The round was led by Lightspeed Venture Partners and included participation from prominent names such as Visa, Deutsche Bank, and Opera Tech Ventures. Existing investors, including HV Capital and Keen Venture Partners, also showed continued support for the company.
The investment comes as a result of Plan A’s impressive growth in its customer base, which now comprises over 1,500 clients. The company has experienced a remarkable software revenue growth of 600% year-over-year from December 2021 to 2022. Plan A’s extensive pan-European partnership network and its innovative climate data processing and business decarbonization technology have been key contributors to its recent success.
Lubomila Jordanova, CEO of Plan A, emphasized the importance of providing tailored software solutions and services to enable large companies to decarbonize their operations and value chains in response to the regulatory shift and the existential risks posed by climate change. Jordanova expressed excitement at having renowned investors join Plan A in addressing climate change on a global scale.
The funding round marks a new phase of growth for Plan A. With the freshly acquired capital, the company plans to double its workforce to over 240 employees. The primary objectives include expanding market presence in Europe, particularly in France, the UK, and Scandinavia, and enhancing the platform’s capabilities. This includes advancing the platform’s decarbonization toolset, expanding its Scope 3 coverage, and aligning with evolving regulatory policies.
At the heart of Plan A’s offerings is the Sustainability Platform, a science-based Software-as-a-Service (SaaS) solution that guides businesses through the entire decarbonization journey. The platform automates data gathering across Scopes 1, 2, and 3 emissions, combining it with national emission factors and datasets to provide a detailed emissions profile and ESG insights through dynamic dashboard overviews. With access to over 1,000 decarbonization solutions and activities, best practices, and a network of service providers and sustainability professionals, the platform empowers companies to establish science-based net-zero targets and take tangible steps toward achieving them.
Plan A demonstrates its commitment to scientific rigor by adhering to internationally recognized methodologies and standards, such as the Greenhouse Gas Protocol and the Science Based Targets initiative. The company’s Corporate Carbon Footprint (CCF) calculation methodology is certified by TÜV Rheinland, a respected verification body.
With its innovative platform and a strong financial backing, Plan A is well-positioned to drive decarbonization efforts and make a meaningful impact in businesses across sectors both large and small.
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