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The proceeds from the financing round will be used to accelerate the company's plans to expand coverage of hazards, climate scenarios, and asset classes in its Climanomics software platform to meet increased demand
Fremont, CA: The global leader in climate risk analytics The Climate Service secured USD 3.825 million in an oversubscribed Series A funding round led by Persei Venture LLC, with participation from existing investors and new investors, including the Association of International Certified Professional Accountants (AICPA), and Synovia Capital. Persei Venture is known for making focused investments in early-stage companies that redefine markets, while AICPA is the most influential body of professional accountants in the world. The proceeds from the financing round will be used to accelerate the company's plans to expand coverage of hazards, climate scenarios, and asset classes in its Climanomics software platform to meet increased demand.
The Climate Service provides world-class climate risk modeling and analytics to investors, businesses, and governments. The ClimanomicsÂ platform was built by an exceptional team and advisors that include four IPCC Nobel Prize-winning scientists. "Investors, markets, and regulators are increasingly requiring businesses to measure their exposure to climate change-related risk. As a result, we designed this fundraising round to enable TCS to respond to the demands of industries under pressure to understand, quantify, and manage climate risk," said David L. Jadow of Persei Venture. "We forecast significant continued growth for TCS, and we are proud to support the company's vision and mission to embed climate risk into global decision-making."
The Climate Service's platform puts a price on climate risk. It enables analysis and disclosure consistent with the Task Force on Climate-Related Financial Disclosures (TCFD), a framework now supported by over 1,000 organizations globally. The closing of the Series A funding round comes on the back of a year with exceptional momentum for the company, which includes the inking of several high-profile strategic partnerships, a team that has tripled in size over the last six months, and the onboarding of a rapidly growing roster of customers.
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