Plan A, a prominent provider of corporate carbon accounting, decarbonization, and ESG reporting software in Europe, has successfully closed a funding round of $27 million. This funding round was spearheaded by Lightspeed Venture Partners and included participation from Visa, with whom Plan A established an exclusive global partnership in December 2022, along with contributions from Deutsche Bank, Opera Tech Ventures (the venture capital arm of BNP Paribas), and numerous unicorn founders, including those from Supercell, Aiven, Zalando, and Wolt. All existing investors, including HV Capital, Keen Venture Partners, Demeter IM, and Coparion, also took part in this round.
Plan A secured this investment due to its remarkable growth in customer base, serving over 1,500 clients, and its software revenues, which witnessed extraordinary growth of over 600% year-over-year from December 2021 to 2022. The company also boasts a pan-European partnership network and leads the market in climate data processing and business decarbonization technology.
This funding marks the beginning of Plan A’s next phase of growth. With the fresh capital, the company plans to double its workforce, expanding to over 240 employees. Their primary focus for market expansion will be in Europe, with a strong emphasis on France, the UK, and Scandinavia. Additionally, they intend to enhance their platform’s capabilities, particularly in the areas of decarbonization tools, Scope 3 coverage and actionability, and alignment with regulatory policies. Through these efforts, Plan A aims to continue its mission of empowering businesses to manage their journey towards achieving net-zero emissions using its comprehensive SaaS platform.
Plan A’s Sustainability Platform, a science-based SaaS solution, covers the entire decarbonization process. It automatically gathers data across Scopes 1, 2, and 3 emissions, combining them with national emission factors and datasets. This platform offers detailed emissions profiles and ESG insights through dynamic dashboard views. It enables companies to establish science-based net-zero targets based on indicators with the most significant reduction potential. Furthermore, it provides access to over 1,000 decarbonization solutions and activities, best practices, and a network of service providers and sustainability experts. The platform concludes the process by generating ESG reports that comply with regulations. Thanks to its high level of automation, managing deep decarbonization and compliance in a fragmented regulatory landscape becomes more manageable, less complex, and cost-effective.
