#USA #San Francisco #Energy Management #Gravity #Carbon Accounting

Gravity Secures $13M in Funding

Gravity, a leading name in enterprise carbon accounting and energy management solutions, has successfully closed a $13 million Series A funding round, increasing its total funding to more than $20 million. The funding round, spearheaded by Ansa Capital, included participation from existing investors such as Eclipse, Hanover, and Caffeinated Capital, in addition to new investors like Communitas Capital, Buoyant Ventures, and WEX Venture Capital. As part of this investment deal, Marco DeMeireles, Co-Founder and Managing Partner of Ansa Capital, will take a seat on Gravity's board of directors.

In the face of growing demands for carbon reporting, Gravity is stepping up to tackle the challenges faced by sustainability teams. Reports indicate that these teams often find themselves overwhelmed by disclosure obligations, with many companies missing out on nearly $2 trillion in potential energy efficiency savings due to lack of focus on actionable insights. By automating data collection and analytics, Gravity aims to shift emphasis from mere reporting to taking impactful actions, especially in industries characterized as hard-to-abate sectors.

"Sustainable disclosure should not be a manual, tedious task disconnected from essential business goals," stated Saleh ElHattab, CEO and Co-Founder of Gravity. Emphasizing the connection between emissions and cost, he pointed out that many expense centers could be automated while linking reporting efforts to the financial objectives of risk and cost management. With Gravity, reporting becomes integrated with business value, making it an easier task to manage.

Unlike traditional platforms that depend on manual data entry, Gravity provides an automated system that generates sustainability reports ready for audits. This seamless data collection interface has attracted more than 60% of Gravity's clients to switch from competing services. The platform's capabilities not only minimize the compliance burden but also significantly reduce the time dedicated to disclosure efforts. One notable client has reported savings of approximately 4,600 hours annually, translating to over 578 days of labor thanks to Gravity's AI-supported bill scanning technology.

Furthermore, Gravity is re-framing the act of reporting as a value-generating process. With tools like energy audits, financial partnerships, and access to a network of reputable vendors, the platform serves as a comprehensive resource for companies to enhance their financial performance through improved energy efficiency and the exploration of new electrification and energy storage opportunities. For instance, one client achieved savings exceeding $2 million per year through HVAC optimization, while another project successfully secured more than $1 million in federal incentives for sustainable improvements in Nevada.

Marco DeMeireles heralded Gravity as a pioneering solution, remarking on the successful integration of large language models (LLMs) for automating emissions reporting within extensive organizations, and positioning carbon accounting as a key driver of value through identification and execution of cost-saving ventures.

The market response has been impressive, with Gravity witnessing an astounding 400% year-over-year revenue growth. The platform has attracted Fortune 500 companies and notable private equity firms like WM, Autodesk, and MiddleGround Capital. Gravity's influence extends to their supply chains, partnering with constructing giants like McCarthy Holdings, Inc., distributors such as TTI, Inc., and material suppliers like Wisconsin Aluminum Factory.

“We opted for Gravity because it was the sole provider that genuinely automated data intake and empowered us not just to report but to slash costs and bolster our business resilience,” shared Sachin Shivaram, CEO of Wisconsin Aluminum Factory. “The substantial savings we achieved—over $400,000 annually—more than justifies our investment in this platform.”

The recently acquired Series A funds are earmarked for further product research and development. Gravity intends to enhance its carbon management solution further and enrich the customer experience, particularly by expanding its energy efficiency marketplace and integrating new partners for decarbonization and financing. Additionally, the company has plans to grow its workforce in the US and EU, aiming to introduce their platform to new regions and assist customers in complying with evolving regulatory standards.

To learn more about Gravity's innovative solutions, visit their website.

About Gravity

Gravity offers a comprehensive carbon accounting and energy management platform that aligns environmental sustainability with business impact. Designed specifically for organizations with substantial energy requirements and complex supply chains, Gravity enables companies to fulfill emissions reporting obligations, enhance customer relations, and cut costs through optimized energy use.

About Ansa Capital

Ansa Capital specializes in high-conviction investments in technology companies on the cusp of early growth. With a focus on emerging markets, innovative business models, and cutting-edge software, Ansa Capital aims to be a key partner in the evolution of tomorrow's leading companies. They leverage extensive experience from investments in organizations such as CrowdStrike, Coinbase, and Peloton.