Manifest Climate, a climate intelligence SaaS+ (software as a service) platform for public and private organizations, has completed a CAD $30 million Series A raise.
The round was co-led by BDC Capital Women in Technology Venture Fund and Climate Innovation Capital, with participation from the slate of investors that backed the company’s Seed Round in February 2021— including OMERS Ventures, Golden Ventures, Garage Capital, Active Impact Investments, Klass Capital and Bryker Capital, and influential angel investors.
What is so unique about Manifest Climate’s platform?
As an SaaS+ platform that provides alignment with the Task Force for Climate-Related Financial Disclosure (TCFD), Manifest Climate is recognized as a leader in helping firms to confidently meet disclosure obligations and build capacity to manage climate-related risks.
Manifest’s Climate’s platform is already being used by some of the world’s largest financial, insurance, endowments and asset management firms, as well as, real estate, mining, technology and packaged goods companies across North America, Europe and beyond.
The platform is poised for rapid uptake as financial regulators globally embrace the TCFD—now endorsed by the G20, which accounts for 85% of global GDP—as the global standard.
In March, the US Securities and Exchange Commission (SEC) approved a proposed rule that would require companies listed on any U.S. stock exchange to incorporate TCFD-aligned climate-related information into their periodic filings—including in their annual reports.
Manifest Climate’s climate intelligence software is positioned to help organizations meet their emerging regulatory obligations and increase internal competency on climate issues.
Manifest Climate’s client focused benchmarking and maturity assessment offers tailored recommendations to improve the management and disclosure of climate-related governance and risk management processes. The platform also offers real-time insight on climate-related market trends and best-practices across sectors and geographies.
Current users of the Manifest Climate’s AI powered SaaS climate platform include Scotiabank, Manulife, Teck Resources, BentallGreenOak, Loomis Sayles, among others.
How will Manifest Climate use latest investment?
“Our clients have been longing for a solution that helps them identify climate risks and opportunities, trends and best practices, build organizational climate-resilience and facilitate communication between management, boards and external stakeholders, aligned with TCFD as the global-standard,” said Laura Zizzo, Co-Founder and CEO of Manifest Climate.
“Manifest’s platform supercharges their climate capacity for a fraction of the price of consultants and much faster, too. Investors are moving capital into climate solutions.”
“This Series A investment is both a great case in point of the global trend. The investment also positions us to respond to increasing market demand for our product.”
“Manifest Climate translates climate confidence into business results. Tech is playing a bigger role in understanding climate-related risks and opportunities and by leveraging our deep climate expertise through AI, we are bringing cutting-edge tech into the world of corporate strategy and disclosure,” said Jeremy Greven, Co-Founder and President of Manifest Climate.
Jeremy Greven added that the latest financing proceeds will support product development, international expansion and other Manifest Climate’s growth-related initiatives.
What are the investors’ thoughts on Manifest Climate?
“Manifest Climate shows how diverse leadership and deep expertise can create scalable solutions for critical problems. The company’s climate tech platform is a must for businesses to execute on their ambitious sustainability goals,” said Michelle Scarborough, Managing Partner, Women in Technology Venture Fund at BDC Capital.
“Solutions that enable the decarbonization of the economy is what we search for, fund and help grow, and Manifest Climate is smartly aligned with that purpose,” said Nelson Switzer, Co-Founder & Managing Partner, Climate Innovation Capital.
“Manifest has the team, the expertise and vision needed to empower firms to establish, enhance and execute climate strategies that will drive meaningful climate mitigation.”
Manifest Climate, which featured in the G20 Innovations League’s list of top cleantech start-ups, is an emerging Canadian success story poised to scale quickly.
The serially ranked Best Place to Work start-up has attracted a great team of executives, strategists, data scientists, product developers and growth experts. The Board of Directors will now include Michelle Scarbourgh, Nelson Switzer, Lawrence Pentland and Linda Mantia.
