Sustain.Life, the platform empowering small- and medium-sized enterprises to take impactful climate action, has raised $16m in seed funding.
Tapestry VC and Mike Hanrahan, Sustain.Life’s co-founder, co-led the investment round, with participation from Active Impact Investments, Kompas, Agya Ventures and Seyen Capital.
Founded by a team of sustainability and business leaders with expertise in launching and scaling successful technology ventures, including three former Walmart and Jet.com executives, Sustain.Life will use the funding towards further building out its platform’s offerings and scaling its user base.
Launched in 2021, Sustain.Life provides ESG tools that empower organisations to future-proof themselves by embracing sustainable business practices that manage carbon emissions, reduce costs and help distinguish them to customers, partners, investors and recruits.
Sustain.Life said it “democratises sustainability” by making it easier and more affordable to measure, manage and report carbon emissions and environmental impact. It empowers teams without expertise to start measuring environmental impact from internal operations, and scale across large organisations and global supply chains, replacing spreadsheets and turning black box estimates into auditable and verifiable data.
The company explained that while many of the world’s largest corporations have the resources to implement sustainability programs, small and medium-sized enterprises—which constitute a larger percentage of the market—often lack the resources to do so. This is the market the sustainability software company is targeting.
Alyssa Rade, chief sustainability officer of Sustain.Life, said, “Together, small and medium-sized enterprises constitute a significant amount of the greenhouse gas emissions contributing to climate change. Today, most of these companies lack the expertise and resources to take climate action. Not only does inaction have negative consequences for the planet, it has negative business impacts for these companies too, including higher costs and greater risk.
“We’re grateful to our investors, who recognise that Sustain.Life’s affordable and easy-to-use SaaS solution meets not only a vast total addressable market, but a total addressable problem: enabling companies to get to net-zero.”
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