It’s coming hard out the gates with a new company, and then there’s Sweep. Founded in 2020, the company raised a $22 million Series A round a few months ago, followed by a $73 million Series B round announced today. The company invaded with a carbon emissions management platform. It found a sweet spot in the world of big corporations, who foamed at their throats announcing they were ready to save the planet, but then were left scratching their heads, unclear on how to actually implement their progress, tracking and reporting.
The company’s co-founder and CEO, Rachel Delacour, sold her previous startup to Zendesk and was left with a big enough chunk of change that she didn’t have to work anymore.
“After the acquisition, I could just stay with my kids and enjoy life and just hang out,” Delacour told me, adding that that wasn’t her style, especially after having access to a talented team and network of potential clients and financing . “How do you look at yourself in the mirror? “Let’s use our energy and access to the right people on a global scale to try to do our part to reduce CO2 emissions and just preserve what’s left of climate stability.”
Sweep first found success offering a corporate carbon management platform that helped them build science-based and data-driven climate programs.
†[Our customers] told us ‘we pledged in the paper, and now we just don’t know where to start.’ These companies are not new, they are not digital. In Europe, the reality is that we have companies and manufacturers that are more than 100 years old,” says Delacour. “You automate what can be automated, humanize what can be humanized to engage your employees. You invite everyone to join the Sweep platform to join the carbon conversation.”
Sweep generates reports that comply with the various reporting protocols to make it easier for the companies to monitor the ins and outs of the climate space and bring issues and challenges to the forefront. The company’s CEO is particularly enthusiastic about collective action, which ensures that everyone shares their share of the responsibility to prevent climate disasters. The platform’s network approach to carbon management is helping companies become decarbonised in global supply chains, including for multinational giants such as Saint Gobain and JCDecaux.
In addition to Coatue, who led the round, existing investors Balderton Capital, New Wave, La Famiglia and 2050 also participated in the round.
“As a growing number of companies meet their climate commitments, they need data and science-based solutions to move them forward,” said Coatue’s founder Philippe Laffont. “We believe Sweep is the leading technology in this competitive landscape, effectively supporting sustainability efforts from measuring and goal setting to mitigation and reporting. European founders have long been at the forefront of climate innovation and Coatue is excited to join Sweep on this journey.”