Plan A, one of Europe’s leading corporate carbon accounting, decarbonisation, and ESG reporting software providers, has closed a $27M funding round.
The round was led by Lightspeed Venture Partners, and included a number of other investors, including Visa, Deutsche Bank, Opera Tech Ventures, and several ‘unicorn founders’, including those of Supercell, Aiven, Zalando, and Wolt.
The new funding follows significant growth in Plan A’s customer base and software revenues, strong partnerships, and leading business decarbonisation and policy alignment software. The growth reflects the growing need by companies operating globally to track and reduce their emissions, especially with upcoming regulations requiring reporting of these areas.
“Climate change and the 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 decarbonise their operations and value chains and respond to the regulatory shift,” said Plan A’s CEO, Lubomila Jordanova.
“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 decarbonisation and address climate change on a global scale.”
According to Plan A, the raised capital will be used to develop its presence in the French, UK, and Scandinavian markets, double its headcount, and advance its platform’s decarbonisation tooling, Scope 3 data processing, and reporting capabilities.
Plan A’s Sustainability Platform gives businesses the tools to self-manage their net zero journey. It automatically maps all necessary data across Scopes 1, 2, and 3, merges them with national emission factors and datasets, and provides granular emissions profiles and ESG insights in dynamic dashboard overviews.
Along with tracking, the tool helps businesses to create decarbonisation strategies that fall in line with internationally recognised scientific methodologies and standards such as the Greenhouse Gas Protocol and the Science Based Targets initiative (SBTi).
