ESG platform Atlas Metrics has closed a €12.2 million Series A funding round.
Atlas Metrics provides an all-in-one platform for ESG compliance and sustainability performance management. The B2B platform makes it easy for any organisation to measure and communicate its impact through automation, AI, secure data sharing, and advanced analytics.
“For all businesses across all industries, ESG reporting and compliance has become a necessary part of operations”, said Wladimir Nikoluk, Founder and CEO of Atlas Metrics.
“But it is costly and risky to manage. This funding will allow us to enhance our product offerings to simplify ESG compliance and turn sustainability data into a competitive advantage”.
By 2025 over 62,500 organisations must meet rigorous annual requirements, including double materiality assessments, corporate carbon footprint accounting, and audit-ready CSRD (Corporate Sustainability Reporting Directive) reporting. A German company with €100 million in revenue is estimated to incur an annual cost of €250,000 for manual compliance and a €5 million fine (5 per cent of turnover) for non-compliance.
Atlas client KfW Capital uses its platform to track its portfolio of over 100 funds and 1,300 portfolio companies.
Through its partnership with DG Nexolution, a key provider of digital solutions within the German cooperative network, up to 700 banks and their business customers will have the opportunity to use the platform.
MMC Ventures led the round, which included existing investors b2ventures, Cherry Ventures, and Redstone.
“Atlas’ success is testimony to their commitment to building a technology-first rather than consulting-first company. For 3 years, they have innovated around data transfer and aggregation within and across organisations, modular software architecture, and sophisticated end-to-end user flows. We are proud to have backed them since day one,” says Filip Dames, Founding Partner at Cherry Ventures.
Oliver Richards, Partner at MMC Ventures, added:
“Atlas Metrics is at the forefront of a critical shift, accelerated by regulatory tailwinds, towards greater transparency and accountability in business practices.
We are thoroughly impressed by their comprehensive platform, which not only streamlines ESG compliance but also offers valuable data and analytics, enabling organisations to make informed strategic decisions.”
Lead image: Atlas Metrics. Photo: uncredited.
By Tech.eu
Source: Tech.eu