Raises $12M Series A to Scale AI-Powered Corporate Sustainability Platform
Summary
NEW YORK April 8, 2025 Tracera, the AI-powered platform that automates the collection, verification and auditing of sustainability data with finance-grade accuracy and traceability, today announced a $12M Series A round, led by Foundry, with participation from Rho Ignition, Tola Capital, and Contour Venture Partners. Tracera, which leverages Environmental, Social, and Governance (ESG) data to streamline companies sustainability reporting and reduce costs, has raised $17.25M since its launch in 2023. To date, Tracera has worked with more than 30 FORTUNE 2000 enterprise clients, including EnerSys and La-Z-Boy Incorporated, reducing the time and cost of sustainability data management by up to 85 percent.Traceras latest funding follows the recent launch of its Scope 3 emissions data tool, which automatically gathers and analyzes supplier-specific emissions information to provide businesses with a clear understanding of their environmental impact and how to reduce it.Founded by CEO Patrick Obeid and spun out from Bain & Companys Founders Studio, Tracera stands out in the sustainability SaaS market by delivering seamless traceability, empowering leaders in manufacturing, construction, real estate, and retail to track industry-specific data back to its source with absolute confidence in its accuracy. Founded in 2010 by experienced software operators at the forefront of cloud computings rise, the firm backs entrepreneurs who have enterprise technology experience and are building disruptive, industry-transforming solutions with diverse teams. Tola Capital has raised three funds totalling $670M, has successfully exited numerous startups, and continues to evolve as it supports founders into the era of AI.