Tracera, an AI-based platform that automates the collection, verification and auditing of sustainability data with finance-grade accuracy and traceability, announced a $12 million Series A round, led by Foundry, with participation from Rho Ignition, Tola Capital, and Contour Venture Partners.
Tracera, which utilizes Environmental, Social, and Governance (ESG) data to streamline companies sustainability reporting and reduce costs, has raised $17.25 million since launching in 2023. And by automating ESG data management, Tracera helps companies focus on actionable insights that cut emissions, ensure compliance, and improve efficiency.
Available across over 100 countries, Tracera’s AI-based platform addresses key sustainability challenges – including fragmented data, regulatory complexity, and the need for data transparency to automate workflow, eliminate silos and produce auditable sustainability reports. And Tracera has worked with over 30 Fortune 2000 enterprise clients, including EnerSys and La-Z-Boy Incorporated, reducing the time and cost of sustainability data management by up to 85%.
Tracera’s latest funding round follows the recent launch of its Scope 3 emissions data tool. This tool automatically gathers and analyzes supplier-specific emissions information to provide businesses with a clear understanding of their environmental impact and how to reduce it.
Launched by CEO Patrick Obeid and spun out from Bain & Company’s Founder’s Studio, Tracera stands out in the sustainability SaaS market by delivering seamless traceability, empowering leaders in manufacturing, construction, real estate, and retail to track industry-specific data back to its source with absolute confidence in its accuracy. And even with thousands of data points from diverse sources, regardless of format or language, Tracera’s all-in-one platform enables enterprises to collect, verify, and audit sustainability data in a collaborative environment, eliminating uncertainty and ensuring reliability at every step.
In connection with the funding round, Tracera is adding a new member to its Board: Foundry Partner Seth Levine. He will collaborate with Rho Capital Partners’ managing partner, Habib Kairouz, Tola Capital Venture Partner Karolin Beck, and Confience CEO Patrick Quinlan.
KEY QUOTES:
“With regulatory pressures mounting and scrutiny of sustainability claims intensifying, the demand for accurate, traceable data is surging. Tracera’s comprehensive, AI-driven solution is perfectly suited to meet these challenges, turning sustainability reporting into a strategic advantage rather than a compliance headache.”
- Foundry Partner Seth Levine
“We’ve automated a very manual process, saving time and resources for other projects. It’s been better tracking, a single source of truth, and much higher visibility.”
- Samuel Shiroff, Senior Director of Global Sustainability at EnerSys
“At Tracera, we’re revolutionizing the way businesses see growth—proving that sustainable growth and financial success are one and the same. The untapped power of sustainability data has the potential to transform businesses, uncover inefficiencies, drive competitive edge, and position you to lead in an increasingly fierce market.”
- Patrick Obeid
“Tracera’s ground-breaking technology tackles some of today’s most pressing challenges. It can extract sustainability data from any source, regardless of format or language, which helps eliminate silos and minimize manual effort. With Tracera, companies can finally leave behind endless spreadsheets and embrace smarter, faster decision-making.”
- Habib Kairouz
“The market opportunity for Tracera is phenomenal. Their innovative approach and rapid growth are setting a new standard in sustainability SaaS. We’re confident that Tracera will continue to scale and lead this space, meeting the surging demand for robust, traceable sustainability data.”
- Tola Capital Venture Partner Karolin Beck
