IN BOLD PRINT, a leading carbon management platform for businesses of all sizes, announced it closed a pre-seed round of $1 million. This latest funding round reaffirmed the company’s critical support of small-to-midsized businesses along the consumer goods supply chain, which are increasingly required to report on carbon emissions. VC 414 led the round and was joined by additional venture firms focused on bolstering climate solutions. Plus, Schreiber Foods and Palermo’s Pizza, which sell their products in major national retailers, joined the round as IN BOLD PRINT customers and strategic partners.
This latest funding round comes during a time when emissions disclosure regulations are evolving, as evidenced by the recent approval of the California ruling that is estimated to affect 75% of Fortune 1000 companies and, by extension, all of the vendors, suppliers, and partners that contribute to each company’s Scope 3 emissions.
As businesses of all sizes aim to navigate the maturing world of emissions reporting to meet regulatory, investor, and customer sustainability expectations, there is increased demand for simpler, more efficient, and more comprehensive sustainability reporting capabilities.
IN BOLD PRINT’s customer list, including various industries across the CPG and retail categories, is a testament to the growing imperative for small and midsized businesses to report their carbon emissions. Carbon emissions reporting is no longer solely for marketing and branding purposes but is increasingly a requirement to do business with companies and distributors that are required to report on Scope 3 emissions across their supply chain. However, many SMBs cannot access the same support offered by the accounting and ESG consulting firms available to large corporations.
To make carbon accounting accessible to every business, Ashley Pradhan and Cierra Valor launched IN BOLD PRINT in 2021. IN BOLD PRINT’s intuitive platform operates much like leading consumer accounting platforms, providing both ease of use and simplicity without compromising on accuracy and service. And the platform generates exportable dashboards, reports, and recommendations that can be easily shared with investors, suppliers, and consumers to share emissions data and inform sustainability and cost-saving initiatives transparently.
The funding will move the platform to a full self-service model by expanding IN BOLD PRINT’s go-to-market and engineering teams as the company’s customer base rapidly grows. And as IN BOLD PRINT continues to expand into new product categories and industries, the company estimates that its total addressable market will grow to $17.5 billion.
KEY QUOTES:
“Sustainability initiatives and reporting are top of mind for consumers and investors, which means they must be top of mind for business leaders. With experience in both data and software development consulting, Ashley Pradhan and Cierra Valor have the perfect mix of technical and leadership qualities our firm seeks in founders. They built IN BOLD PRINT’s platform to empower businesses to act in a way that’s good for the environment and their bottom line. We’re proud to support a female- and minority-founded company with such a timely mission and believe they are in a strong position for high-velocity growth.”
-Jennifer Abele, Managing Partner of VC 414
“Our team has experience with myriad sustainability platforms and knows firsthand the impact that IN BOLD PRINT can uniquely have on a business’s ESG initiatives and revenue. We found that the level of automation, accuracy, and ease-of-use IN BOLD PRINT offers is far above other platforms in the carbon management category.”
-Emily King, Sustainability Specialist at Schreiber Foods
“We founded IN BOLD PRINT with the belief that what’s good for the environment can also be good for business, and we want to help business owners across industries realize that. Whether a business owner is proactively trying to improve their carbon footprint or is being asked for an emissions report by a customer or investor, our goal is to enable them to easily get a snapshot of their emissions and how it can be improved.”
-Ashley Pradhan, CEO of IN BOLD PRINT
