Sustain.Life, Co-Founded by Former Jet.com and Walmart Executives, Raises $16M to Empower SMEs to Take Climate Action
NEW YORK–(BUSINESS THREAD) – Sustain.Life, the platform that empowers small and medium-sized businesses to take impactful climate action, announced today that it has raised $ 16 million in initial funding. Founded by a team of business and sustainability leaders with experience in launching and scaling up successful technology companies, including three former Walmart and Jet.com executives, Sustain.Life will use the funding to further develop its offerings. of its platform and expand its user base. Tapestry VC and Mike Hanrahan, co-founder of Sustain.Life, co-led the investment round, with the participation of Active Impact Investments, Kompas, Agya Ventures and Seyen Capital. Hanrahan co-founded Jet.com and helped lead the site’s acquisition of Walmart, then the largest e-commerce acquisition of all time.
Sustain.Life democratizes sustainability by making it easier and more affordable to measure, manage and report carbon emissions and environmental impact. It enables inexperienced teams to begin measuring the environmental impact of internal operations and scales across large organizations and global supply chains, replacing spreadsheets and turning black box estimates into auditable and verifiable data. Sustain.Life provides businesses with the tools they need to ensure compliance with evolving information frameworks, as regulations make auditable monitoring a legal necessity, such as the recently announced SEC Climate Disclosure Rule , are taking shape in the US and Europe.
While many of the world’s largest companies have the resources to implement sustainability programs, small and medium-sized businesses — which make up a larger share of the market — often do not have the resources to do so. Sustain.Life is addressing this critical market need by making it easier and more affordable for businesses to launch carbon accounting and climate action programs, achieve zero net emissions and reap the business benefits of sustainability, such as cost and risk reduction. With Sustain.Life, businesses can:
- Measure its carbon emissions and the environmental impact of internal operations i supply chains;
- Manage its emissions through operational changes in areas such as energy, water and waste, and reduce its footprint;
- Report its progress to customers, investors and employees with transparency and integrity.
“To solve climate change, the greatest threat to humanity, we need tools that allow more people and organizations to take meaningful climate action, and we need them quickly,” he said. Mike Hanrahan, co-founder of Sustain.Life. “Many large corporations have the resources to invest in sustainability initiatives, but most companies do not have the resources to launch successful sustainability programs. That is why we set out to build a platform that is more accessible from a perspective. usability and cost “.
Mike Hanrahan, CEO of Sustain.Life, Annalee Bloomfield, and CTO Patrick Campagnano, co-founded the company after moving to Walmart’s Intelligent Retail Lab, where Hanrahan served as CEO; Bloomfield served as Senior Director, Product Manager and Customer Experience; and Campagnano served as chief engineer. They knew that their experience in creating scalable and accessible technologies could meet the need of the tool market to help companies mitigate their climate impact. They incorporated Alyssa Rade, who has more than a decade of experience in corporate ESG, to serve as the company’s director of sustainability.
“At Tapestry VC, we are looking for technical, repeat-oriented founders with a global focus, who have the ambition to challenge the status quo, chase headlines, and make an impact in the world,” he said. Patrick Murphy, Co – founder and managing partner of VC carpet. “The carbon accounting and offsetting industry is moving from a marketing exercise and a craft industry to a key bastion in the global fight against climate change. The Sustain.Life team has a unique insight into the issues facing “Sustain.Life has created a unique solution that eliminates middlemen and allows companies of all sizes to regain control of their carbon accounting in their own hands.”
“Together, small and medium-sized enterprises account for a significant amount of greenhouse gas emissions that contribute to climate change. Today, most of these companies do not have the experience and resources to carry out a climate action. Inaction not only has negative consequences for the planet, but also negative business impacts for these companies, including higher costs and higher risk, ”he said. Alyssa Rade, Director of Sustainability at Sustain.Life. “We are grateful to our investors, who recognize that Sustain.Life’s affordable and easy-to-use SaaS solution meets not only a broadly addressable total market, but a total addressable problem: enabling companies to reach net zero.”
Since its launch in November 2021, Sustain.Life has attracted high-profile brand customers in a wide range of industries, including CPG food and beverage, electric vehicles and fintech. It has also established important partnerships with industry leaders and advocacy organizations, such as:
Interactive Brokers, the largest e-commerce platform in the U.S., to offer its sustainability offerings to users of the company’s app;
Avetta, the leading provider of supply chain risk management software, to use its platform to more than 125,000 vendors in the Avetta network, a crucial step in addressing the three emissions from the supply chains of companies; i
Sustainable Cannabis Coalition, the consortium of leading cannabis companies working to make the industry more sustainable, to help companies across the cannabis value chain, from cultivation to distribution, reduce their environmental impact.
Last March, Sustain.Life was selected for the AICPA / CPA.com 2022 Startup Accelerator. Sustain.Life also participated in the 14th annual SXSW Pitch, a highly competitive startup selective where they shared the company’s vision with a panel of esteemed judges and a live audience.
Learn more about Sustain.Life here.
Sustain.Life is a SaaS platform that helps companies in all sectors measure and reduce their environmental impact. Launched in 2021, Sustain.Life provides ESG tools that enable organizations to prepare for the future by adopting sustainable business practices that manage carbon emissions, reduce costs, and help distinguish customers, partners, investors, and contractors.
About Tapestry Venture Capital
Tapestry VC is a venture capital fund that invests in technical and recurring founders in Europe and the US. His team are early-stage investors in emerging technology companies such as Hopin, Pitch, Zapp, Crossbeam, Nothing, Builder, MetaMap, Manna, Standard AI and more than 40 others. The company is headquartered in San Francisco, CA. More information: https://tapestry.vc