Patch Raises 55M in Series B Funding

patch

Patch, a San Francisco, CA-based climate-tech company, raised $55M in Series B funding.

The round, which brought a total of $80M in funding to date, was led by Energize Ventures with participation from Coatue Management and Andreessen Horowitz. In conjunction with the funding, Energize Ventures Partner Tyler Lancaster joins the Patch board of directors.

The company intends to use the funds to support hiring, growth into new markets and development of an expanding technology footprint. 

Led by CEO Brennan Spellacy, Patch provides a platform scaling unified climate action. With Patch, companies can embed climate action into their own products, neutralizing the carbon impact of everyday transactions like shipping, travel and financial services. With Patch’s platform, businesses of any size, with any budget, can purchase carbon credits as a means of taking climate action. It also provides those developing the climate solutions with the infrastructure they need to grow and scale their businesses, facilitating impactful transactions on the voluntary carbon market, which is projected to become a $100B market by 2050.

FinSMEs

12/10/2022