Leading near real-time carbon management and accounting platform round led by Fifth Wall and a national US Energy Company
RENO, Nev. and LUXEMBOURG, April 18, 2023 /PRNewswire/ — nZero, the leading near real-time carbon management and accounting platform, today announced that it has closed a $16 million Series A funding round that will enable the company to scale amid a global call for better, more accurate tracking and reporting of energy, financial, and greenhouse gas emissions data across the public and private sectors. The influx of funding arrives as more organizations worldwide strive to use data to implement and reach climate change goals. The round was led by both Fifth Wall—the largest asset manager focused on improving, future-proofing, and decarbonizing the built world—and a national US energy company. Additional investors include Piedmont Capital Investments, Inc. with limited partner Henry Kravis, founder and co-chairman of KKR.
"We have a proven track record in providing the best near-real-time, granular data across all scopes of emissions, which business and government leaders can use for operational and capital planning, leveraging tax credits, and the evolving reporting standards. Since our inception, we’ve aggregated more than 1 billion data points across 12,000 buildings and 10,000 vehicles, all being tracked by nZero, and this is just the beginning of our upwards trajectory," said Adam Kramer, CEO of nZero. "Our next chapter will enable us to grow as a data authority and bring our tech platform to scale, deepening our work with Fortune 500 companies, municipalities, government agencies and NGOs."
nZero is the only 24/7 carbon management solution with the ability to sync automatically, analyze, and manage carbon emissions across Scopes 1, 2 and 3 on a granular level, ultimately pairing financial and emissions data and insights that empower true business change. Offering continuous 24/7 tracking, nZero captures hour-by-hour emissions changes in an easy-to-use platform to help clients track, manage, and report out their sustainability goals. Since launching its services in April 2021, nZero has worked with various corporate, agriculture and government entities globally to help them understand their actual carbon impact and develop the most financially efficient and sustainable emissions reductions plans.
"nZero is experiencing significant tailwinds and, in turn, unprecedented growth from a global call for improved, more accurate ESG reporting. Their market-leading team is setting the new industry standard for how energy, financial, and greenhouse gas emissions data is tracked and managed across the public and private sectors," said Jennifer Place, Principal on the Climate Technology Investment Team at Fifth Wall. "We’re supporting a startup that is leveraging technology to transform how companies and governments plan and set climate goals and adjust operations accordingly to reach those goals. Truth through better data is the fundamental reason we are backing nZero."
To learn more about nZero, please visit https://nzero.com/.
nZero is a near real-time (NRT) carbon management and accounting platform that gives NGOs, government agencies and organizations the accurate emissions data they need to reach net zero, communicate their story, and make smart decisions that benefit the health of the planet. Unlike carbon management offerings who rely on third-party data and opaque averages, nZero gathers accurate, first-party, contextual data into a comprehensive view, making it simple for organizations to pinpoint opportunities within their operations to implement carbon reduction actions and spend smarter along the way. nZero’s awards and recognitions include the Economic Development Authority of Western Nevada (EDAWN) Existing Industry 2022 "Leader in Sustainability" Award, Business Intelligence Group’s 2022 Sustainability Product of the Year Award, a place on TIME Magazine’s 2022 Best Inventions List in the Sustainability Category, as well as an honorable mention on Fast Company’s 2022 World Changing Ideas List.
About Fifth Wall
Founded in 2016, Fifth Wall, a Certified B. Corp, is the largest asset manager focused on improving, future-proofing and decarbonizing the built world. Since 2016, Fifth Wall has raised the third-most capital of any venture firm globally ($2.9B), according to SEC Form D filings. With approximately $3.2B in commitments and capital under management, Fifth Wall is backed by a global mix of more than 110 strategic limited partners from more than 15 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Hines, Host Hotels & Resorts, Kimco Realty Corporation, Lennar, Lowe’s Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. This consortium represents one of the largest groups of potential partners in the global built world ecosystem, resulting in transformational investments and collaboration with portfolio companies to cut emissions, improve efficiency, and maximize returns. Founded in Los Angeles and headquartered in New York City, Fifth Wall’s other offices include San Francisco, London and Singapore. For more information about Fifth Wall, its limited partners, and portfolio companies, visit www.fifthwall.com.