Optera raises $12M to help big companies track and reduce their emissions
Optera, a US company that helps big firms measure and report their emissions, has secured $12 million in Series A funding. The Colorado-based startup, which started as a consultancy in 2006 and switched to software in 2016, specializes in Scope 3 emissions that lie in a company’s value chain.
According to Optera’s CEO Tim Weiss, the company’s long experience and focus on collaboration set it apart from other carbon accounting players.
Optera plans to use the new funds to expand its global presence and team size. The round was led by Next Frontier Capital and joined by several other investors.
Optera boasts the likes of Dell, HPE , Grove Collaborative, and Williams-Sonoma on its client list. It has so far been focused on North America but plans to grow its presence in Europe and Asia-Pacific with the fresh funds.
Currently a team of 60, headcount will also expand with a focus on go-to-market and sales.
The round was led by existing investor Next Frontier Capital, with participation from Blackhorn Ventures, Mucker Capital, Overture, Engage, Massive, SaaS Ventures, Valo Ventures, AngelList, and Stout Street Capital.
It brings Optera’s total raised to $17 million.
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