Scope3, a collaborative sustainability platform decarbonizing media and advertising, announced the closing of $25 million in a strategic funding round led by GV. The funding round included participation from existing investors Venrock, Room40 Ventures, and Craft Ventures, and from new investors Aperiam Ventures and Virgo Strategic Investments.
The funding will enable Scope3 to expand its work beyond the advertising ecosystem and tackle the pressing climate impact of the booming AI industry.
Since its founding in 2021, Scope3 has been a pioneer in sustainable digital media. Through its ad campaign sustainability solutions and open-source methodology, Scope3 has supplied the media and advertising industries with tools to analyze and reduce carbon emissions without sacrificing ROI, cost or business success. And thousands of brands use Scope3 to measure and decarbonize their media – including Coca-Cola, General Motors, Mastercard, Sanofi, and more – and nearly 3,000 metric tons of carbon emissions have been avoided by using Scope3’s Green Media Products in the last 18 months.
Scope3’s usage revenue has grown 12x year over year. Now, as AI innovation hits an inflection point and its environmental impact is coming to light, Scope3 is applying its proven approach to decarbonizing the ad and media supply chain to AI.
As the climate crisis grows more pressing and severe by the day, the rapid adoption of AI is leaving significant environmental repercussions in its wake. The training process for a single AI model consumes thousands of megawatthours of electricity and emits hundreds of tons of carbon.
Companies across the board are facing pressure to implement AI strategies while trying to meet climate commitments, and they are struggling to find a clear solution to keep emissions under control. And with the marketing industry leading the rapid adoption of AI, Scope3 is uniquely positioned to help companies balance their sustainability goals without compromising their AI ambitions that drive innovation and business success.
Along with the funding, Scope3 released its AI methodology to the public. This methodology sheds light on the digital waste produced by the AI supply chain by precisely tracing and measuring the environmental impacts of the entire life cycle of an AI product, process or service. This enables every company using AI to make data-driven strategies on when, how and where to apply different AI solutions to reduce their carbon footprints and maximize the efficacy of their AI investments.
KEY QUOTES:
“AI and the media industry are soon going to be indistinguishable. The biggest AI players are monetizing through advertising, just like the search giants before them, and every marketer is using AI to create the content that fuels their campaigns. That’s why extending our methodology to capture the climate impact of AI is imperative, both for our business and the industry as a whole.”
-Brian O’Kelley, Co-Founder and CEO of Scope3
“The most innovative companies in the world are considering sustainable AI practices that address environmental concerns while delivering real business value. Scope3 has the talent, technology, and expertise needed to decarbonize the media and advertising industry. We’ve seen the impact Brian O’Kelley and the Scope3 team have had on the advertising and marketing supply chain, and we’re excited to double down on our investment based on the traction we’ve seen. We’re proud to deepen our partnership with Brian and support Scope3’s mission as we move toward a more sustainable future.”
-Erik Nordlander, General Partner at GV
