Leading climate change risk management platform raises $6.5 million
Laura Zizzo, Co-Founder and CEO, Manifest Climate
Jeremy Greven, Co-Founder, Manifest Climate
Manifest Climate today announced that it has completed a seed financing of $6.5 million with an exceptional syndicate of leading technology investors.
TORONTO, ONTARIO, CANADA, February 10, 2021 /EINPresswire.com/ -- Leading climate change risk management platform raises $6.5 million
Seed round for SaaS business growth
Manifest Climate today announced that it has completed a seed financing of $6.5 million with an exceptional syndicate of leading technology investors. The group includes Klass Capital, Golden Ventures, OMERS Ventures, Bryker Capital, Garage Capital, Active Impact Investments and several high net worth investors including Mark Jaine, former CEO of Intelex.
The funding will go toward the further development, sales and marketing of Manifest, a climate risk disclosure platform that uses AI to assist businesses to enhance their understanding and disclosure of climate-related financial risks, aligned to the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD).
“This investment is a good example of capital aligning with action on climate,” said Laur a Zizzo, Co-Founder and CEO, Manifest Climate. “Manifest software will unlock a company’s ability for greater transparency and demonstrate to management, boards and shareholders the value of understanding and communicating climate risks and opportunities.”
The Manifest platform is currently in pilot with more than 15 public companies from various sectors including real estate, consumer products, retail, and transportation as well as a multinational telecommunications provider and an Australian based mining leader. This pilot is focusing on providing participants with a TCFD benchmark and maturity assessment, with a focus on recommendations to improve disclosure of climate-related governance and risk management processes.
A separate pilot is underway with several banks and asset managers from the USA, Europe and Canada informing teams on the fundamentals of climate and TCFD-aligned reporting, as well as tracking climate trends in various sectors, and relevant competitor activities. Future builds for the platform will include managing cross-organizational climate-related risks and opportunities, and assessing and improving climate-related processes.
“Manifest translates climate confidence into business results.” said Jeremy Greven, Co-Founder of Manifest. “Leveraging our deep climate expertise and AI, we are able to bring cutting edge tech into the world of corporate disclosure. It’s time for technology to play a bigger role in helping business understand their climate-related risks and opportunities.”
“We are committed to investing in social responsibility, environmental sustainability and
compliance,” said Daniel Klass, who leads institution-backed Klass Capital with an enterprise software focus. “Manifest has a solid management team, unique domain expertise and a long-term vision to create an impact. This aligns with our preference for longer hold investments so we can support a business through scale as it grows.”
ABOUT MANIFEST CLIMATE
Manifest Climate helps forward-thinking companies understand, assess, govern and disclose their climate-related risks and opportunities and to be Climate ConfidentTM in the transition to a low-carbon economy. Their multi-disciplinary team is made up of design thinkers, cognitive computing experts, climate change specialists, economists, data scientists, actuaries, financial professionals, lawyers and anthropologists. Together they combine our proprietary cutting-edge cognitive technology, with advanced analytics, and climate science to bridge the gap between global climate best practices and decision-useful business strategies. Manifest Climate shows private and public sector clients how to thrive in a climate-disrupted world by integrating climate change considerations into policies, projects, planning and portfolios. They have helped develop strategies for leading companies and global institutions in finance, insurance, electricity, transportation and public sectors, among others. Their unique knowledge of international best practices helps clients stay ahead of the curve and lead where the rest of the market will soon follow.
Graeme Harris
Strategic Profile Management
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