Plan A Secures $27 Million Funding Round to Advance Corporate Decarbonization
Plan A, the European corporate carbon accounting, decarbonization, and ESG reporting software provider, recently announced the successful closure of a $27 million funding round.
The funding round was spearheaded by Lightspeed Venture Partners and saw further participation from names like Visa, Deutsche Bank, Opera Tech Ventures (the VC arm of BNP Paribas), and a group of unicorn founders, including those from Supercell, Aiven, Zalando, and Wolt.
This round also witnessed the continued support of existing investors, including HV Capital, Keen Venture Partners, Demeter IM, and Coparion.
Plan A’s journey to secure this investment was a reaction by its growth in customer base, boasting over 1,500 clients, and 600% software revenue growth year-over-year from December 2021 to 2022.
Additionally, the company’s large pan-European partnership network and its climate data processing and business decarbonization technology contributed to recent success.
“Climate change and its associated impacts pose an existential risk to businesses. It’s our mission at Plan A to provide made-to-measure software solutions and services to empower large and complex companies to decarbonize their operations and value chains and respond to the regulatory shift.
We are over the moon to bring these stellar investors onboard the Plan A journey today to back us in navigating the complexity of corporate decarbonization and address climate change on a global scale.” – Lubomila Jordanova, CEO of Plan A
“The strength and flexibility of their platform truly has the capabilities to drive change and impact within organizations from across any sector and on a global scale, and to guide organizations both small and large on a holistic decarbonization journey.” – Julie Kainz, Partner at Lightspeed Venture Partners
New Phase
This infusion of capital brings in a new phase of growth for Plan A. With the fresh funds, the company plans to double its workforce to over 240 employees.
The primary objectives include expanding its market presence across Europe, with a particular focus on France, the UK, and Scandinavia, and enhancing its platform capabilities.
Specifically, Plan A aims to advance its platform’s decarbonization toolset, broaden its Scope 3 coverage and actionability, and further align with evolving regulatory policies.
These strategic moves are integral to Plan A’s overarching mission: to empower a multitude of businesses in managing their net-zero journey through its comprehensive SaaS platform.
The Plan A Platform: Navigating the Decarbonization Journey
At the core of Plan A’s offerings lies the Sustainability Platform, a science-based Software-as-a-Service (SaaS) solution that encompasses the entire decarbonization journey for businesses.
This platform sets itself apart by automating the gathering of data across Scopes 1, 2, and 3 emissions, combining this information with national emission factors and datasets.
The result is a granular emissions profile, along with ESG insights presented through dynamic dashboard overviews.
Leveraging this data, the software empowers companies to establish science-based net-zero targets and, crucially, take concrete steps toward achieving them.
The platform offers access to over 1,000 decarbonization solutions and activities, best practices, and a network of service providers and sustainability professionals.
The platform also generates detailed ESG reports that are compliant with regulations.
Its high degree of automation simplifies the complex and fragmented world of decarbonization and compliance in today’s regulatory landscape, making it more manageable and cost-effective.
A Commitment to Scientific Data
Plan A’s commitment to scientific rigor is evident in all aspects of its platform. The calculations and decarbonization solutions embedded within the platform adhere to internationally recognized scientific methodologies and standards such as the Greenhouse Gas Protocol and the Science Based Targets initiative (SBTi).
The Corporate Carbon Footprint (CCF) calculation methodology used by Plan A is certified by TÜV Rheinland, a globally respected verification body.
