Tracera, formerly ESG Flo, works with more than 30 companies across 13 countries; AI platform reduces corporate sustainability data management costs by up to 85 percent.

NEW YORK–(BUSINESS WIRE)–Tracera, the AI-powered platform that automates the collection, verification and auditing of sustainability data with finance-grade accuracy and traceability, today announced a $12M Series A round, led by Foundry, with participation from Rho Ignition, Tola Capital, and Contour Venture Partners. Tracera, which leverages Environmental, Social, and Governance (ESG) data to streamline companies sustainability reporting and reduce costs, has raised $17.25M since its launch in 2023. By automating ESG data management, Tracera helps companies focus on actionable insights that cut emissions, ensure compliance, and improve efficiency.

“The untapped power of sustainability data has the potential to transform businesses, uncover inefficiencies, drive competitive edge, and position you to lead in an increasingly fierce market.” – CEO Patrick ObeidShare

Operating across more than 100 countries, Tracera’s AI-powered platform tackles key sustainability challenges – including fragmented data, regulatory complexity, and the need for data transparency – to automate workflow, eliminate silos and produce auditable sustainability reports. To date, Tracera has worked with more than 30 FORTUNE 2000 enterprise clients, including EnerSys and La-Z-Boy Incorporated, reducing the time and cost of sustainability data management by up to 85 percent.

“With regulatory pressures mounting and scrutiny of sustainability claims intensifying, the demand for accurate, traceable data is surging,” said Foundry Partner Seth Levine. “Tracera’s comprehensive, AI-driven solution is perfectly suited to meet these challenges, turning sustainability reporting into a strategic advantage rather than a compliance headache.”

Tracera’s latest funding follows the recent launch of its Scope 3 emissions data tool, which automatically gathers and analyzes supplier-specific emissions information to provide businesses with a clear understanding of their environmental impact and how to reduce it.

“We’ve automated a very manual process, saving time and resources for other projects,” Samuel Shiroff, Senior Director of Global Sustainability at EnerSys. “It’s been better tracking, a single source of truth, and much higher visibility.”

Founded by CEO Patrick Obeid and spun out from Bain & Company’s Founder’s Studio, Tracera stands out in the sustainability SaaS market by delivering seamless traceability, empowering leaders in manufacturing, construction, real estate, and retail to track industry-specific data back to its source with absolute confidence in its accuracy. Even with thousands of data points from diverse sources—regardless of format or language—Tracera’s all-in-one platform enables enterprises to collect, verify, and audit sustainability data in a collaborative environment, eliminating uncertainty and ensuring reliability at every step.

“At Tracera, we’re revolutionizing the way businesses see growth—proving that sustainable growth and financial success are one and the same,” Obeid said. “The untapped power of sustainability data has the potential to transform businesses, uncover inefficiencies, drive competitive edge, and position you to lead in an increasingly fierce market.”

As part of this funding round, Tracera is adding a new member to its Board – Foundry Partner Seth Levine. He will collaborate with Managing Partner of Rho Capital Partners, Habib Kairouz, Tola Capital Venture Partner Karolin Beck, and Confience CEO Patrick Quinlan.

“Tracera’s ground-breaking technology tackles some of today’s most pressing challenges. It can extract sustainability data from any source, regardless of format or language, which helps eliminate silos and minimize manual effort,” Kairouz said. “With Tracera, companies can finally leave behind endless spreadsheets and embrace smarter, faster decision-making.”

“The market opportunity for Tracera is phenomenal. Their innovative approach and rapid growth are setting a new standard in sustainability SaaS,” Beck said. “We’re confident that Tracera will continue to scale and lead this space, meeting the surging demand for robust, traceable sustainability data.”

To learn more about Tracera, visit www.tracera.com.

About Tracera

Tracera, formerly ESG Flo, is redefining sustainability data management with its AI-powered platform that automates the collection, verification, and auditing of sustainability data. Focused on elevating sustainability data to finance-grade standards, Tracera empowers businesses to achieve seamless compliance and substantiate their sustainability claims with accurate, traceable data—paving the way for smarter, sustainable growth.

About Foundry

Foundry is a network-driven venture capital firm. Founded in 2007, it manages over $3 billion for its limited partners, and has already invested in hundreds of companies and dozens of venture funds. Foundry has 70 active investments, 45 partner funds, 100 general partners, and 1900 Foundry network companies — all contributing to a symbiotic network that drives innovation. Visit www.foundry.vc for more information.

About Rho Ignition

Rho Ignition, a division of Rho Capital Partners (“Rho”), focuses on early-stage investments in disruptive and innovative technology markets, with a current focus on SaaS, AI, Healthtech, FinTech and Robotics. Rho, founded in 1981, has invested over $2 billion in more than 300 companies across multiple waves of technology innovation. Visit www.rho.com for more information.

About Tola Capital

Tola Capital is a venture capital firm that believes in the power of software, data, and AI to transform the way the world works. Founded in 2010 by experienced software operators at the forefront of cloud computing’s rise, the firm backs entrepreneurs who have enterprise technology experience and are building disruptive, industry-transforming solutions with diverse teams. Tola Capital has raised three funds totalling $670M, has successfully exited numerous startups, and continues to evolve as it supports founders into the era of AI. Visit www.tolacapital.com for more information.

Contacts

Media Contact:
Anastasiia Andriiuk
Head of Marketing
media@tracera.com

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