ClearTrace (formerly known as swytchX), an Austin, Texas-based software company that provides automated energy and carbon accounting for investors, enterprises, and real estate owners, raised $4m in Series A financing.
The round was led by Clean Energy Ventures with participation from Brookfield Renewable Partners and Clean Energy Venture Group.
The company intends to use the funds to accelerate growth and deploy additional market-driven solutions to a broad base of enterprises and asset managers.
Led by Lincoln Payton, CEO, ClearTrace provides a carbon accounting platform that brings transparency to corporate carbon reduction by enabling auditable, around-the-clock monitoring of energy generation and consumption. The company creates verifiable digital records of energy usage and can track third party energy supply, financial power purchase agreements, demand response activities, and multi-stakeholder management of behind-the-meter energy assets. ClearTrace uses cloud technology to digitize the entire energy supply chain and deliver granular, real-time carbon impact data from energy-related activities.
Customers include multinational corporations, financial service companies, real estate holding companies and competitive energy suppliers.