Greenly, a Paris-based startup co-founded by Arnaud Delubac and Alexis Normand, is expected to reach a revenue of $20 million this year. Its primary service is helping businesses monitor and reduce their carbon footprint.
Greenly started as a free mobile application developed in 2019 and has evolved into a software as a service platform. It caters to roughly 2,000 businesses across Europe and the United States, with well-known clients such as LVMH, L’Oreal, and TripAdvisor.
The primary vision of Greenly is to provide businesses with a quantified understanding of their environmental impact. This enables them to adopt and promote fair and sustainable practices. Their approach integrates directly into clients’ existing technical infrastructure, extracting data and utilizing artificial intelligence to assess carbon emissions accurately.
With total funding of $75 million, a significant portion of which came from Fidelity, Greenly hit profits of $10 million in 2023. Analysts suggest that the company could potentially double this revenue by the end of the year. Co-founders Delubac and Normand have had significant industry experience which contributes to the success of the company.
To provide their services, Greenly collects detailed data on their customer’s finances, products, and services. They use this data to track everything from supply chain materials to the carbon footprint of marketing campaigns.
Greenly’s journey in business carbon reduction
Lastly, they demonstrate these figures to clients through an interactive interface and suggest carbon reduction strategies.
Greenly’s services do not stop at data provision. They also suggest strategies for reducing carbon emissions, tailored to each client’s specific needs based on the gathered data. Hence, Greenly provides comprehensive support for businesses to lessen their environmental impact and fight against climate change effectively.
In addition, Greenly employs 40 climate change experts for direct consultation with customers. Their service prices vary depending on the client’s size. Smaller organizations might spend $3,000 for an annual assessment, while larger companies may face bigger sums.
Matthias Dill, CEO of Energy Impact Europe and an investor in Greenly, emphasizes the importance of investing in the carbon accounting market due to increased corporate interest. EU policies are predicted to soon mandate larger companies to disclose their greenhouse gas emissions, with smaller ones expected to comply by 2026.
The market for carbon accounting software was valued at $15 billion in 2020 and is expected to quadruple by 2030. Greenly initially introduced its free application in line with the Paris Agreement’s “Net Zero” emissions objective. Now, it has around 50,000 active users and focuses on helping corporations since their emissions heavily outweigh those from individual consumers.
In conclusion, Greenly is not only facilitating businesses to track their carbon emissions but also continuously aids them to reduce it, making a significant contribution to the global environmental cause.
