The Climate Service (TCS), a climate risk analytics platform, has completed a $3.825 million Series A funding round.
Persei Venture led the investment round with participation from existing investors and new investors, including the Association of International Certified Professional Accountants (AICPA) and Synovia Capital.
The Climate Service plans to use the new funds to accelerate its plans to expand coverage of hazards, climate scenarios, and asset classes in its Climanomics software platform. The company works with some of the largest financial institutions, Fortune 500 companies, and the US Federal Government.
The Climate Service provides a climate risk modeling and analytics platform to investors, businesses, and governments, which enables decision-making by putting a price on transition and physical risks and opportunities, analysis and disclosure consistent with the TCFD framework, and strategic planning across multiple climate scenarios over a time period of 2020-2100.
“Investors, markets, and regulators are increasingly requiring businesses to measure their exposure to climate change-related risk. As a result, we designed this fundraising round to enable The Climate Service to respond to the demands of industries under pressure to understand, quantify, and manage climate risk,” said David L. Jadow of Persei Venture.
“We forecast significant continued growth for The Climate Service, and we are proud to support the company’s vision and mission to embed climate risk into global decision-making.”
Image Credit: The Climate Service