Hanrahan is on Sustain.Life’s board and recently co-led a seed round with Tapestry VC, giving the startup critical support to accelerate their climate tech model. The company’s SaaS platform gives small to mid-sized businesses the tools to measure, manage and report carbon emissions for their environmental impact. This fills a significant void in the battle against climate change as that segment accounts for a significant amount of the greenhouse gas emissions that contribute to climate change..
“To solve climate change, humanity’s greatest threat, we need tools that enable more people and organizations to take meaningful climate action—and we need them quickly,” says Hanrahan. “Many major corporations have the resources to invest in sustainability initiatives, but most companies lack the resources to launch successful sustainability programs.”
Now with $16 million in seed funding, the Sustain.Life team is accelerating its model, giving businesses scalable and accessible technologies that create auditable and verifiable data—that is growing in importance with the rise of climate change regulations.
By giving businesses the tools to oversee their operations for climate impact, they are enabling them to make changes that they otherwise could not do or afford to do in areas such as energy, water and waste. The auditable information that companies now have provides valuable transparency that benefits their customers, investors and employees.
The SaaS platform serves high-profile brand customers across a broad range of industries, as well as Sustain.Life’s growing list of partners that includes industry leaders and advocacy organizations. Interactive Brokers, the largest electronic trading platform in the U.S., is a partner and now presents sustainability offerings to users of its app.
With its growing client base of small to mid-sized businesses, the founding team has the added satisfaction of seeing the platform democratize climate action. It is spurring a whole segment of the business community to join the climate change movement—that on the whole has a greater portion of emissions than that of large corporations.
Patrick Murphy, Co-Founder and Managing Partner of Tapestry VC describes how industries are rising to take on climate change and why Sustain.Life has a unique advantage.
More affordable carbon accounting and climate action programs aim to have businesses achieve net-zero emissions. But also important is receiving benefits for participating in climate sustainability such as having lower costs and risk. An important feature of the platform is its scalability across their organizations and global supply chains.
Tapestry touts its funding successes that involves assessing each venture’s founding team which in this instance matches well with those leading Sustain.Life.
“At Tapestry VC, we seek out technical and repeat founders with a global orientation, who have the ambition to challenge the status quo, go after incumbents and make an impact on the world,” said Patrick Murphy, Co-Founder and Managing Partner of Tapestry VC. “Not only does inaction have negative consequences for the planet, it has negative business impacts for these companies too, including higher costs and greater risk.”
Alyssa Rade who recently joined the climate tech startup as Chief Sustainability Officer is now building her team to move forward, inspired by Sustain.Life’s results-oriented approach to climate change. This includes companies embracing sustainable business practices that will help them better manage their carbon emissions while reducing their costs.
“We’re grateful to our investors, who recognize that Sustain.Life’s affordable and easy-to-use SaaS solution meets not only a vast total addressable market, but a total addressable problem: enabling companies to get to net-zero,” says Rade.
