Gravity, a leading enterprise carbon accounting and energy management platform, announced a $13 million Series A funding round, bringing the company’s total funding to over $20 million. The funding round was led by Ansa Capital, with participation from existing investors Eclipse, Hanover, and Caffeinated Capital, along with new investors Communitas Capital, Buoyant Ventures, and WEX Venture Capital. Marco DeMeireles, Co-Founder and Managing Partner of Ansa Capital will join Gravity’s board of directors as part of the funding round.
With a surge in carbon reporting requirements, sustainability teams are drowning in disclosure obligations with little business impact to show for the efforts. And with the majority of their time and resources spent on reporting and stakeholder engagement, there is little focus on action, leading to companies leaving an estimated $2 trillion on the table in energy efficiency savings alone. And Gravity addresses this challenge head-on by delivering a carbon management solution that automates data collection and reporting. It also empowers companies, even those in critical hard-to-abate industries, to reduce energy consumption and costs.
Unlike other platforms that use manual data entry, Gravity automates data collection. It calculates audit-ready sustainability reports and provides a frictionless experience that has convinced over 60% of Gravity’s customers to switch from other providers. AndGravity’s data collection capabilities seamlessly integrate with each customer’s existing energy tracking, supplier engagement, ESG measurement, and reporting modules, drastically lowering their compliance burden and time spent on disclosure. One customer reported that Gravity’s AI-based bill scanning saved them an estimated 4,600 hours — or 578 days of work — annually.
Gravity’s platform also turns the act of reporting into one of value creation. And through energy audits, financing partnerships, and a marketplace of trusted vendors, Gravity is a one-stop shop for companies to execute projects that improve balance sheets by enhancing energy efficiency and unlocking new electrification and energy storage opportunities. One Gravity project – an HVAC optimization for a Midwestern utility – saved the customer over $2 million annually. Another project for a vertically integrated developer in Nevada secured over $1 million in federal incentives for sustainable and modern construction improvements.
This solution has struck a chord with the market, driving 400% year-over-year revenue growth. Gravity works with Fortune 500 companies, global enterprises, and leading private equity firms, including WM, Autodesk, and MiddleGround Capital. And it is also supporting the companies that make up their supply chains and portfolios, including construction firms like McCarthy Holdings, Inc.; distributors like TTI, Inc., a Berkshire Hathaway Company; and metals suppliers like Wisconsin Aluminum Factory.
Gravity plans to invest the Series A funding in product research and development as the company expands its carbon management solution and customer experience. And Gravity will double down on its energy efficiency marketplace, making it easier for customers to identify and implement energy efficiency projects and introducing new decarbonization and financing partners. The company will also expand its team in the US and EU to deliver the platform to new markets and empower customers to meet new regulatory reporting requirements.
KEY QUOTES:
“Too often, sustainable disclosure is a manual, time-consuming chore that’s detached from evergreen business priorities. Ultimately, behind every ton of emissions is a cost – whether it’s energy spend, logistics investments, or purchased goods and services. Gravity taps into the fact that these cost centers are already well-tracked and can be measured automatically, while connecting the task of reporting back to every company’s core financial priorities of cost and risk mitigation. Reporting should be easy and connected to business value.”
– Saleh ElHattab, CEO and Co-Founder of Gravity
“Gravity is the first platform we’ve seen successfully leverage LLMs to automate emissions reporting for large-scale organizations and turn carbon accounting into a value driver by identifying and executing cost-saving opportunities through their marketplace. With a founding team that combines deep industrial expertise with world-class climate strategy and engineering excellence, we believe Gravity will be instrumental in helping the largest emitters move beyond emissions calculation to actively managing their energy costs through pragmatic, high-ROI actions on one convenient platform.”
– Marco DeMeireles, Co-Founder and Managing Partner at Ansa Capital
“We chose Gravity because it was the only solution that truly automated the data ingestion process and empowered us to go beyond reporting to reduce costs and increase business resilience. Thanks to Gravity, we are executing energy projects that deliver over $400,000 in annual savings, more than paying for itself. The team consistently goes above and beyond to anticipate our business needs, shepherding us through a journey that would have otherwise been very difficult.”
– Sachin Shivaram, CEO of Wisconsin Aluminum Factory
