Plan A, a prominent player in Europe’s corporate carbon accounting, decarbonization, and ESG reporting software sector, has achieved a significant funding milestone by raising over €25.2 million. The funding round was spearheaded by Lightspeed Venture Partners, with participation from key stakeholders like Visa, who previously entered into an exclusive global partnership with Plan A in December 2022.
Notable investors in this round include Deutsche Bank, Opera Tech Ventures (the venture capital arm of BNP Paribas), and a roster of unicorn founders from companies such as Supercell, Aiven, Zalando, and Wolt. Existing investors like HV Capital, Keen Venture Partners, Demeter IM, and Coparion also contributed to the funding. The substantial investment was driven by Plan A’s impressive customer growth, boasting over 1,500 clients, and a remarkable surge in software revenues, which soared by over 600% from December 2021 to 2022. Additionally, the company stands out with its robust pan-European partnership network and industry-leading technology in climate data processing and business decarbonization.
This funding represents the launch of Plan A’s next phase of growth. With the fresh capital infusion, the company plans to double its workforce to more than 240 employees, with a specific focus on expanding its market presence in Europe, particularly in France, the UK, and Scandinavia. The company also aims to enhance its platform’s capabilities, with a particular emphasis on advancing decarbonization tools, expanding Scope 3 coverage and actionability, and improving policy alignment features. Through these efforts, Plan A intends to further its mission of empowering hundreds of thousands of businesses to self-manage their journey toward net-zero emissions using its comprehensive SaaS platform.
Plan A’s Sustainability Platform is a science-based SaaS solution that covers the entire decarbonization journey. By automatically collating essential data across Scopes 1, 2, and 3 and integrating them with national emission factors and datasets, the platform delivers detailed emissions profiles and ESG insights through dynamic dashboard views. Using indicators with the most substantial reduction potential, the software enables companies to set science-based net-zero targets and achieve them through a wealth of decarbonization solutions, best practices, and a network of service providers and sustainability experts. The platform ultimately generates ESG reports that comply with regulations. Thanks to its high degree of automation, navigating deep decarbonization and compliance in a fragmented regulatory landscape becomes more manageable, less complex, and cost-efficient.
To meet the highest scientific standards, all calculations and decarbonization solutions integrated into the platform adhere to internationally recognized methodologies and standards like the Greenhouse Gas Protocol and the Science Based Targets Initiative (SBTi). The accuracy of the Corporate Carbon Footprint (CCF) calculation methodology is certified by TÜV Rheinland, a leading global verification body.
Lubomila Jordanova, CEO of Plan A, expressed, “Climate change and its associated impacts represent an existential threat to businesses. At Plan A, our mission is to offer tailored software solutions and services to empower large and intricate companies to decarbonize their operations and value chains while responding to regulatory changes. We are thrilled to have these exceptional investors join the Plan A journey, supporting us in navigating the complexities of corporate decarbonization and addressing global climate change.”
Julie Kainz, Partner at Lightspeed Venture Partners, added, “At Lightspeed, we firmly believe in the power of technology and exceptional founding teams to tackle one of today’s most critical challenges – climate change. We’ve closely followed Lubomila and the entire Plan A team’s journey over the years, and it’s abundantly clear to us that they have positioned themselves as leaders in this field. The strength and flexibility of their platform have the potential to drive change and impact within organizations across all sectors and on a global scale, guiding both small and large organizations on a comprehensive decarbonization journey.”