There’s a tough exit with a new venture, and then there’s Sweep. The company was founded in 2020, then raised a $22m Series A round a few months ago, followed by a $73m Series B round announced today. The company swept up with a platform for managing carbon emissions. He found a sweet spot in the world of big business, which frothed at the news that they were ready to save the planet, but then were left bewildered, not knowing how to implement, track and report back. account of their progress. .
The company’s co-founder and CEO, Rachel Delacour, sold her previous startup to Zendesk, and found herself with enough change that she no longer needed to work.
“After the acquisition, I could just hang out with my kids and enjoy life and just hang out,” Delacour told me, adding that wasn’t his style, especially after having access to a talented team and a network of potential customers and financing. . “How do you look at yourself in the mirror? “Let’s use our energy and our access to the right people globally to try to do our part to reduce carbon emissions and just preserve what’s left of climate stability.”
Sweep found initial success in providing a carbon management platform to large corporations, helping them create science and data-driven climate programs.
“[Our customers] told us “we got into the newspaper, 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 over 100 years old,” says Delacour. “You automate what can be, humanize what can be to engage your employees. You invite everyone to engage with the Sweep platform to be part of the carbon conversation.
Sweep generates reports that comply with various reporting protocols to enable businesses to keep tabs on events in the climate space and bring issues and challenges to the forefront. The company’s CEO is particularly enthusiastic about collective action, ensuring that everyone shares their share of responsibility for avoiding climate catastrophe. The platform’s network approach to carbon management helps companies decarbonize global supply chains, including for multinational giants like Saint Gobain and JCDecaux.
In addition to Coatue, which led the round, existing investors Balderton Capital, New Wave, La Famiglia and 2050 also participated in the round.
“As a growing number of companies commit to their climate commitments, they need science-based data and solutions to drive them forward,” said Coatue founder Philippe Laffont. “We believe Sweep is the cutting-edge technology in this competitive landscape, effectively supporting sustainability efforts, from measurement and goal setting to reduction and reporting. European founders have long been at the forefront of climate innovation, and Coatue is excited to be part of this journey with Sweep.