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GreenPlaces secures funding from Felicis to meet its corporate sustainability goal.
FREMONT, CA: "We're so excited to back Alex and the GreenPlaces team," said Viviana Faga, General Partner at Felicis. "GreenPlaces makes it incredibly easy for companies of all sizes to understand their carbon emissions to meet corporate sustainability goals and is quickly becoming the source of truth for sustainability activity. The platform comes with ESG policies built-in that companies can adopt, but is also extremely flexible, allowing for connecting to 150+ APIs. We hope all companies become GreenPlaces."
In a seed funding round sponsored by Felicis and Bull City Venture Partners, GreenPlaces, the "sustainability for all" climate platform, raised $4 million in seed capital. Many people attended the event, including Howard Lerman & Brian Distelberger (co-founders of Yext), Scot Wingo (founder of ChannelAdvisor), Jesse Lipson (founder of ShareFile), Todd Olson (founder of Pendo), Kyle Porter (founder of SalesLoft), and Baker Shogry (former employee of Plaid). With this fresh round of funding, GreenPlaces will double the team size within a year. The company has raised $5 million to date.
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With GreenPlaces, sustainability reporting is seamless, accurate, and less time-consuming than with other platforms like Rippling, Workday, ADP, NetSuite, and Quickbooks. Businesses can get full visibility into their emissions using nearly all US energy, water, and natural gas utilities. It analyses data, combines that with industry expertise, and makes personalized business recommendations by connecting existing applications.
"We realized that everyone was building sustainability tools for the world's largest companies, but no one was offering a solution for the 99 percent of businesses that don't live on the Fortune 500," said founder and CEO Alex Lassiter. "Products built for Wal-Mart, or Goldman Sachs aren't going to work for most SaaS companies. Likewise, they also won't work for a law firm, logistics company, hotel, or restaurant chain. We realized these resource-constrained businesses make up nearly 70 percent of global emissions, and they weren't being served. These businesses need an easy-to-implement solution that does more than generate a carbon footprint. They need a platform that creates personalized recommendations on what to do, and tools to engage employees and customers – they needed all the things a sustainability team would do."
Most businesses need more resources to reach their sustainability goals, even though sustainability has become an expectation. Formerly chief executive of Gather (acquired by Vista Equity), Lassiter believes carbon accounting doesn't work for these businesses. Most businesses find these tools too labor-intensive and difficult to use.
GreenPlaces provides businesses with personalized recommendations and insights to improve their sustainability metrics. Clients can adapt these pre-built ESG policies without the headache and legal cost of drawing them up from scratch.
GreenPlaces engages employees with customers. Clients can embed a sustainability page on their website to keep customers informed on sustainability progress through Slack tools and climate competitions. A brand can customize and update sustainability pages without hiring a developer.
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