Eastbourne-based software engine, Omnevue (formerly ESGgen), has raised $3.1 million in Seed funding. The company provides an ESG accounting solution.
The funding round was led by Elbow Beach Capital and Pi Labs and includes Zone2boost and angel investors.
Hoping to claim ‘QuickBooks for ESG’ status the start-up was founded by Andrew Winnicki, Daniel Jeczmien, and Dr Marc Lepere. Omnevue ‘connects to a company’s financial, HR and other data sources before collecting, analysing and generating reports aligned to international accounting standards (ISAE 3000)’.
“Our vision is for Omnevue to become the go-to ‘credit bureau’ for non-financial and ESG data for the private sector,” says Jeczmien. “Integrated Accounting, the dual reporting of financial and non-financial data, is set to become the new accounting norm – and Omnevue’s platform and team of chartered accountants leverage cutting-edge technology to deliver accurate ESG performance data in a fully compliant way.”
Omnevue is soon to launch a fully automated, real-time business CO2e estimator tool called ‘VueCO2e’, allowing UK and EU businesses to view and report their CO2e impacts securely by connecting their bank account – for less than £5 per month.
“We’re delighted to have led this round alongside Pi Labs. Having known Daniel and Marc for some time and as users of the Omnevue platform, we are immensely excited about the company’s potential to help drive significant environmental impact through its insights,” says Jonathan Pollock, CEO of Elbow Beach Capital. “If industries are to be decarbonised efficiently, they need clear, accurate and consistent data like that provided by Omnevue, which sets the benchmark for non-financial ESG reporting.”
“The ability to robustly report on critical non-financial data will shape a stronger, more resilient economy – and businesses will need this to survive. Contributing 40% of the world’s greenhouse gases, real estate plays a central role in shaping communities and cities around the world. While the sector has made a concerted effort to decarbonise, with that comes an urgent need for a level of transparency and ESG accuracy which simply hasn’t been achieved before,” says Faisal Butt, founder and managing partner of Pi Labs.
“ESG reporting tools which work at scale globally and provide the data needed to enable improvements across not just the environment but also social and governance will be key to success. We’re proud to support Omnevue’s forward-thinking founders at this stage of their growth – their platform is perfectly positioned to create a material and positive impact for global businesses and the planet,” adds Butt.
Main image: Omnevue co-founders Andrew Winnicki, Daniel Jeczmien, and Dr Marc Lepere (image credit: Omnevue)