What is Sweep?
Founded in 2020, Sweep provides a comprehensive platform designed to assist businesses in adopting more environmentally sustainable practices. The company's solution enables organizations to effectively manage and measure their carbon emissions, set ambitious environmental goals, and leverage data-driven insights to drive progress. Sweep operates within the burgeoning climate tech and sustainability management industry, a sector experiencing rapid expansion as global regulatory pressures and corporate social responsibility initiatives intensify.
How much funding has Sweep raised?
Sweep has raised a total of $100M across 3 funding rounds:
Angel/Seed
$5M
Series A
$22M
Series B
$73M
Angel/Seed (2021): $5M with participation from 2050, New Wave Group, and La Famiglia
Series A (2021): $22M led by La Famiglia, 2050, New Wave, and Balderton Capital
Series B (2022): $73M supported by Coatue
Key Investors in Sweep
Coatue
Coatue is a prominent investment firm known for its global market strategies across public and private equities, likely bringing significant financial acumen and market insight to Sweep's growth.
Balderton Capital
Balderton Capital, a UK-based venture capital firm, specializes in early-stage and growth-stage technology companies, suggesting a focus on Sweep's scaling and market expansion potential.
La Famiglia
La Famiglia, with its diverse investment interests, appears to be a strategic backer, potentially offering operational expertise or market access relevant to Sweep's business objectives.
What's next for Sweep?
The substantial enterprise-level funding and recent strategic investment position Sweep for accelerated growth and market penetration. This capital infusion is expected to fuel product development, enhance its data analytics capabilities, and expand its global footprint. As businesses increasingly prioritize sustainability reporting and carbon footprint reduction, Sweep is poised to become a key player in providing the tools and data necessary for effective environmental management. The company's focus on measurable emissions management aligns with evolving corporate governance and investor expectations for ESG (Environmental, Social, and Governance) performance.
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