What is Cloverly?
Cloverly operates as a critical tool for businesses aiming to mitigate their environmental footprint. Through a powerful API, the company provides real-time calculation of carbon emissions associated with everyday activities. Beyond calculation, Cloverly facilitates the direct purchase of carbon offsets and Renewable Energy Credits, offering a comprehensive solution for companies to move towards carbon neutrality or even carbon negativity. Headquartered in Atlanta, Georgia, Cloverly is positioned to capitalize on the growing corporate responsibility movement and regulatory pressures driving sustainable business practices.
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 SB Opportunity Fund, Tech Square Ventures, and Circadian Ventures
Series A (2023): $19M led by Grotech Ventures, Impact Engine, and Aquiline Technology Growth
Key Investors in Cloverly
Grotech Ventures
Grotech Ventures is an investment firm focused on partnering with innovative entrepreneurial talent in high potential technology companies outside of Silicon Valley. Their mission is to support young companies that aim to transform markets, create jobs, and foster sustainable growth.
Impact Engine
Impact Engine is a venture capital and private equity firm focused on investing in companies that create positive social and environmental impacts in areas such as economic empowerment, education, and health. The firm aims to optimize both financial and social returns by building and managing portfolios that drive sustainability and health equity.
Aquiline Technology Growth
Aquiline Technology Growth (ATG), based in New York City, was founded by Aquiline Capital Partners LLC to invest in early- and growth-stage technology and services companies that will impact the global insurance and broader financial services ecosystems.
What's next for Cloverly?
The substantial enterprise-level funding, particularly the recent strategic investment, positions Cloverly for accelerated scaling and market expansion. This capital infusion is expected to fuel product development, enhance its API capabilities, and broaden its customer acquisition efforts. As regulatory landscapes evolve and corporate sustainability goals become more ambitious, Cloverly's technology is poised to become increasingly integral to business operations. The company's focus on real-time solutions and verifiable offsets suggests a strategy aimed at becoming a leader in the burgeoning carbon accounting and mitigation sector.
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