nZero – a leading near real-time carbon management and accounting platform – announced that it has raised a $16 million Series A funding round that will enable the company to scale as part of a global call for better reporting of energy, financial, and greenhouse gas emissions data across the public and private sectors. And the funding arrives as more organizations worldwide are striving to use data to implement and reach climate change goals.
This funding round was led by both Fifth Wall — which is the largest asset manager focused on improving, future-proofing, and decarbonizing the built world — and a national US energy company. Additional investors included Piedmont Capital Investments with limited partner Henry Kravis, founder and co-chairman of KKR.
nZero is known as the only 24/7 carbon management solution with the ability to sync automatically, analyze, and manage carbon emissions across Scopes 1, 2, and 3 on a granular level, pairing financial and emissions data and insights that empower true business change. By offering continuous 24/7 tracking, nZero captures hour-by-hour emissions changes in an easy-to-use platform to help clients track, manage, and report out sustainability goals. Since the company launched its services in April 2021, nZero has worked with various corporate, agriculture, and government entities globally to help them understand their actual carbon impact and develop the most financially efficient and sustainable emissions reduction plans.
KEY QUOTES:
“We have a proven track record in providing the best near-real-time, granular data across all scopes of emissions, which business and government leaders can use for operational and capital planning, leveraging tax credits, and the evolving reporting standards. Since our inception, we’ve aggregated more than 1 billion data points across 12,000 buildings and 10,000 vehicles, all being tracked by nZero, and this is just the beginning of our upwards trajectory. Our next chapter will enable us to grow as a data authority and bring our tech platform to scale, deepening our work with Fortune 500 companies, municipalities, government agencies and NGOs.”
– Adam Kramer, CEO of nZero
“nZero is experiencing significant tailwinds and, in turn, unprecedented growth from a global call for improved, more accurate ESG reporting. Their market-leading team is setting the new industry standard for how energy, financial, and greenhouse gas emissions data is tracked and managed across the public and private sectors. We’re supporting a startup that is leveraging technology to transform how companies and governments plan and set climate goals and adjust operations accordingly to reach those goals. Truth through better data is the fundamental reason we are backing nZero.”
– Jennifer Place, Principal on the Climate Technology Investment Team at Fifth Wall
