Persefoni, a Tempe-based startup that's building climate impact software for enterprises, said Thursday that it had raised $101 million in series B financing just months after closing its series A.
The new funding round featured a bevy of investors, led by Prelude Ventures and the Rise Fund, a fund put together by private equity firm TPG which is also a client of Persefoni.
The following groups all invested in Persefoni for the first time in this round: Clearvision Ventures, Parkway Ventures, Bain & Co., EDF Group through its corporate venture arm EDF Pulse Holding, Sumitomo Mitsui Banking Corporation, The Ferrante Group, Alumni Ventures Group, and New Valley Ventures.
Existing investors NGP Energy Technology Partners, Sallyport Investments, and strategic angels also returned to participate in the series B.
Persefoni is a Climate Management and Account Platform (CMAP) for large enterprises and financial institutions to track their carbon emissions and contribution to climate change. Persefoni calls itself an "ERP for carbon data" and it aims to bring the same rigor to carbon transactions that currently exist for financial transactions.
Kentaro Kawamori, CEO and co-founder of Persefoni, said that the company aims to simplify climate regulations and disclosures, which are sure to be on the rise in the coming years.
"The market is rife with data and software solutions that create new proprietary methodologies every day, and our customers are exhausted with that approach,” he said in a statement. “We work daily with the world's preeminent industry standards setters and regulators to enable transparency and trust at the highest levels.”
Persefoni previously raised a $3.5 million seed round in August 2020 and a $9.7 million series A round in April. Earlier this month Persefoni announced that Marc Zenner, previously global co-head of Corporate Finance Advisory at J.P. Morgan, had joined the company as its chief financial officer.
The company is less than two years old, founded in stealth before going live in January 2020, but it said it is already working with four of the 10 largest global private equity firms and four of the world's 20 largest banks to calculate and disclose their financed emissions footprints.
Considering climate change is a collective global problem, Persefoni also launched a new, free version of its software on Thursday so more businesses can start tracking their emissions.
