Singapore – Collaborative sustainability platform Scope3 today announced a US$20 million Series B funding round led by GV, which will be used to accelerate the development of Scope3’s collaborative sustainability platform (CSP), a first-of-its-kind platform that visualises the massively interconnected ad ecosystem while powering meaningful carbon reduction.
Aside from the CSP development, Scope3 will also be using the GV led funding to grow its global team of advertising, tech, and sustainability experts and further expand its data and measurement capabilities.
Talking about Scope3’s efforts, Brian O’Kelley, co-Founder and CEO of Scope3, expressed that the climate crisis is an urgent and global problem, and that the world’s largest brands, advertisers, and businesses are starting to embrace sustainability as an opportunity that is both good for the planet and the business, making sustainable advertising inevitable.
“At Scope3, we’re building a business that will serve as the foundation for the next generation of media and advertising. This investment gives us the resources to put decarbonisation tools into the hands of the industry, while attracting the talent needed to build a more sustainable ad ecosystem and deliver on our mission,” he added.
Speaking on the investment, Kelley concluded, “I’m grateful for the support of GV and our other investors, as well as the many clients, partners, and industry leaders who have helped us get to this point GV’s climate tech focus and extensive knowledge of the nuances of advertising technology make them the perfect fit.”
Meanwhile, Erik Nordlander, general partner at GV, commented, “Scope3’s focus on measurement and reduction takes the right approach to decarbonisation and we’re confident in their ability to move the entire digital ad ecosystem toward climate progress. We are delighted to support their business expansion.”
Notably, Scope3’s additional investors in this round also include Room40 Ventures and Venrock.
