Lightspeed leads $27M round backing Plan A to expand its carbon accounting software in Europe

Corporate carbon accounting software provider Plan A has raised a $27 million funding round to expand its team, further develop the capabilities of its platform and expand throughout Europe as it throws its main focus on building its French, UK, and Scandinavian markets.

The Berlin, Paris, and London-based company has developed a greentech SaaS solution for companies to self-manage their net-zero journey. Allowing firms to calculate emissions set targets, and basically clean up their act, in one end-to-end solution.  

Plan A claims that ‘all platform-embedded calculations and decarbonisation solutions are fully aligned with internationally recognised scientific methodologies and standards such as the Greenhouse Gas Protocol and the Science Based Targets initiative (SBTi). The scientific accurateness of the applied Corporate Carbon Footprint (CCF) calculation methodology is certified by TÜV Rheinland, one of the world's leading verification bodies’.

A wealth of investors were involved in the round. Leading the round was Lightspeed Venture Partners, joined by Visa (a partnership that began last year), Deutsche Bank, Opera Tech Ventures, exiting investors HV Capital, Keen Venture Partners, Demeter IM, and coparion. The round also includes capital from the founders of Supercell, Aiven, Zalando, and Wolt.

“At Lightspeed, we strongly believe in the power of technology and unique founding teams to attack one of the most important challenges our society faces today - climate change. We’ve been closely following the journey of Lubomila and the entire Plan A team over the past years and it has become incredibly clear to us that they have positioned themselves as a leader in this space. The strength and flexibility of their platform truly has the capabilities to drive change and impact within organisations from across any sector and on a global scale, and to guide organisations both small and large on a holistic decarbonisation journey,” says Julie Kainz, Partner at Lightspeed Venture Partners.

“Climate change and the associated impacts pose an existential risk to businesses. It's our mission at Plan A to provide made-to-measure software solutions and services to empower large and complex companies to decarbonise their operations and value chains and respond to the regulatory shift. We are over the moon to bring these stellar investors onboard the Plan A journey today to back us in navigating the complexity of corporate decarbonisation and address climate change on a global scale,” says Lubomila Jordanova, CEO of Plan A.

Lead image: The Plan A team. Photo: Lisa Kempke.