What is Cloverly?
Cloverly operates within the burgeoning climate tech sector, providing a critical service for businesses aiming to address their environmental footprint. The company's core offering is an API that not only quantifies the carbon emissions associated with everyday activities but also enables the immediate procurement of carbon offsets and Renewable Energy Credits. This real-time mitigation capability positions Cloverly as a key player in helping organizations transition towards carbon neutrality or even carbon negativity. Headquartered in Atlanta, Georgia, Cloverly is strategically located to serve a growing market demand for accessible and effective environmental impact solutions.
How much funding has Cloverly raised?
Cloverly has raised a total of $21.1M across 2 funding rounds:
Angel/Seed
$2.1M
Series A
$19M
Angel/Seed (2021): $2.1M with participation from Circadian Ventures, Tech Square Ventures, and SB Opportunity Fund
Series A (2023): $19M led by Aquiline Technology Growth, Grotech Ventures, and Impact Engine
Key Investors in Cloverly
Aquiline Technology Growth
Aquiline Technology Growth (ATG) is a venture capital firm specializing in early- and growth-stage technology and services companies that impact the global insurance and financial services ecosystems. They leverage their expertise to target businesses in FinTech, InsureTech, and Enterprise Software with significant growth potential.
Grotech Ventures
Grotech Ventures is an investment firm that partners with innovative entrepreneurial talent in high-potential technology companies, focusing on transforming markets and fostering sustainable growth. They provide strategic investments and support to businesses across various sectors.
Impact Engine
Impact Engine is a venture capital and private equity firm dedicated to investing in companies that generate positive social and environmental impacts, focusing on economic empowerment, education, and health. They aim to optimize both financial and social returns through sustainable business practices.
What's next for Cloverly?
With substantial enterprise-level backing and a recent strategic investment, Cloverly is poised for significant expansion. The company's trajectory suggests a focus on scaling its API capabilities and broadening its market reach. Future growth will likely involve enhancing its offset and Renewable Energy Credit marketplace, potentially forging new partnerships with sustainability-focused organizations, and further developing its carbon accounting technology. This capital infusion is expected to accelerate product development and bolster sales and marketing efforts, solidifying Cloverly's position as a leader in the carbon management solutions space.
See full Cloverly company page
