Sweep Raises $73 Million in Series B  

by Kay Aloha Villamor in

Sweep, a Paris-based leading carbon management platform for large enterprises, announced it raised $73 million in Series B funding led by Coatue. Bringing Sweep's total funding to $100 million.

In addition to Coatue, the round also had participation from Tony Fadell’s Future Shape fund, with participation from all existing investors Balderton Capital, New Wave (backed by Xavier Niel and Peter Fenton), La Famiglia, and 2050 (founded by Marie Ekeland).

This latest round will serve to scale the Sweep platform’s capacity to help more companies build climate-resilient strategies that meet their climate targets quickly and cost-effectively.

Company: Sweep SAS

Raised: $73.0M

Round: Series B

Funding Month: April 2022

Lead Investors: Coatue

Additional Investors: Tony Fadell’s Future Shape fund, Balderton Capital, New Wave, La Famiglia and 2050

Company Website: https://www.sweep.net/

Software Category: Carbon Management Platform

About the Company: Founded in 2020, Sweep is the all-in-one carbon tool that helps large enterprises build a science-based and data-driven climate program. Organizations can accurately and seamlessly track their global emissions across their three emission scopes. Its network approach to carbon accounting empowers every carbon-emitting individual – such as employees, subsidiaries, suppliers, and business partners – to securely share their data and visualize their emissions over time. Sweep also offers a carbon marketplace that allows companies to couple their reduction efforts with investments in climate projects. Sweep has developed a software as a service (SaaS) tool to simplify the process of collecting carbon emissions data across an enterprise's entire value chain, including internal operations and external stakeholders. Sweep is B Corp certified and leads by example by disclosing publicly its climate journey.

Source: https://www.businesswire.com/news/home/20220404005766/en/Climate-Tech-Firm-Sweep-Raises-73-Million-in-Series-B-Funding-Led-by-Coatue




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