Project Canary, a Denver, CO-based climate tech and environmental assessment company, raised $111m in Series B funding.
Backers included Insight Partners (lead investor), Brookfield Growth, Canada Pension Plan Investment Board (CPP Investments), and Carica Sustainable Investments – the sustainable investing arm of the Hamilton James Family office, Quantum Energy Partners, Energy Impact Partners, and Frontier Venture Capital.
The company plans to use the funds to scale its core solutions and expand to new sectors.
Formed as a Public Benefit Corporation by CEO and co-founder Chris Romer, Project Canary is a SaaS-based data analytics company focused on environmental performance or the E in ESG for emission-intensive companies. The platform assesses and scores responsible operations and provide independent, measured emission profiles, including methane, via high fidelity continuous monitoring technology that helps companies take ESG action.
Project Canary provides independent, holistic environmental assessments and high-fidelity continuous monitoring solutions at the facility level to allow companies to measure and improve their operations and emissions profiles.