GreenPlaces’ platform translates sustainability into return on investment, making it possible for business leaders of all sizes to reduce emissions and increase their bottom line, a strategy previously designated for multinational corporations.

Redpoint Ventures, Felicis, Tishman Speyer Ventures, and Bull City Venture Partners lead a $13 million Series A funding round for GreenPlaces, a comprehensive sustainability platform. GreenPlaces’ mission to bring sustainability to the mass market, where over majority of global emissions, or an estimated 39 billion tonnes of CO2e, reside, is fueled by this investment.

Today’s business leaders are under a great deal of pressure, as they must contend with declining profitability, swiftly evolving regulations, and an increasingly environmentally conscious consumer base and workforce. The majority of sustainability teams and budgets are small and becoming increasingly constrained as businesses are compelled to make cuts and prioritize the bottom line. GreenPlaces recognizes that businesses are in dire need of a practical, straightforward sustainability solution, and that for it to be successful on the mass market, it must be beneficial to both businesses and the environment.

“I have empathy for business executives. On the one hand, you are confronted with declining profits, and on the other, you are confronted with ESG requirements and climate regulation. Not to mention the burden on the top line as consumers adjust their spending to reflect their values,” says Alex Lassiter, founder and CEO of GreenPlaces. “We designed GreenPlaces to integrate business and sustainability goals, making it simple for companies to reduce their carbon footprint and increase their bottom line.”

Meta, Microsoft, and AT&T practice a “good for business, good for the planet” approach to sustainability, investing significantly in experts and customized tools to reduce their carbon footprint and improve their bottom line. GreenPlaces is assisting the mass market in applying this strategy, to shift away from perceiving sustainability as a cost center and reframe it as a smarter way to conduct business, thus transforming sustainability into return on investment.

GreenPlaces enables sustainability for all enterprises by establishing a connection between business value and climate impact. The all-inclusive solution is designed for business leaders who must embrace sustainability practices but lack the resources and expertise of multinational corporations.

Through integrations with thousands of existing business tools (such as utilities, HR, and accounting platforms), GreenPlaces’ platform combines customer operational data with sustainability benchmarks to create visibility into their carbon footprint and actionable insights to reduce emissions and achieve cost savings. The platform also contains templates and tools, such as an ESG policy library and a branded sustainability website, making it simple for clients to achieve compliance and share their story.

GreenPlaces supports rapidly expanding businesses in a variety of industries, including restaurants, hotels, tech companies, and more traditional businesses such as law firms and service providers. 

GreenPlaces provides a simple, prescriptive, set-it-and-forget-it solution for sustainability, similar to what we’ve observed with other compliance trends such as GDPR and SOC II, according to Meera Clark, Principal at Redpoint Ventures. Alex and the GreenPlaces team have demonstrated unrivaled customer empathy, which is believed to be a significant competitive advantage in meeting the needs of a customer set that Silicon Valley has historically misunderstood and ignored.

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