Sweep, a Montpellier, France-based carbon management platform for large enterprises, raised $22m in Series A funding.
The round, which brought total funding to $27m, was led by Balderton Capital with participation from New Wave, La Famiglia and 2050. In conjunction with the funding, Bernard Liautaud, Managing Partner at Balderton Capital, has joined Sweep’s board of directors.
The company intends to use the funds to expand operations and its business reach.
Led by Rachel Delacour, CEO and co-founder, Sweep provides a carbon emission management platform that helps large enterprises build a science-based and data-driven climate program. Organizations can accurately track their global emissions across their three emission scopes. This network approach to carbon accounting empowers every carbon-emitting individual – such as employees, subsidiaries, suppliers, business partners – to share their data and visualize how their activities are making a difference. Sweep also offers a carbon marketplace which allows companies to couple their reduction efforts with investments in carbon positive projects. Sweep, a SOC2 compliant with operations located in France and the United Kingdom, also launched the Initiatives feature to make it easy for enterprises to identify the most effective carbon reduction roadmap against their climate goals by simulating different reduction strategies, distributing action steps to their teams and partners and tracking progress against their climate goals.
The company also achieved full B-Corporation status for meeting the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.