Round led by Ansa Capital underscores industry need for an end-to-end carbon accounting platform that engages overlooked industries and drives business impact
SAN FRANCISCO, Jan. 21, 2025 /PRNewswire/ -- Gravity, the leading enterprise carbon accounting and energy management platform, today announced a $13M Series A funding round, bringing the company's total funding to over $20M. The round was led by Ansa Capital, with participation from existing investors Eclipse, Hanover, and Caffeinated Capital, along with new investors Communitas Capital, Buoyant Ventures, and WEX Venture Capital. As part of the round, Marco DeMeireles, Co-Founder and Managing Partner of Ansa Capital, will join Gravity's board of directors.
Amidst a surge in carbon reporting requirements, sustainability teams are drowning in disclosure obligations, with little business impact to show for their efforts. With the majority of their time and resources spent on reporting and stakeholder engagement, there is little focus on action, which leads to companies leaving an estimated $2T on the table in energy efficiency savings alone. Gravity addresses this challenge head-on by delivering a carbon management solution that automates data collection and reporting, while empowering companies, even those in critical hard-to-abate industries, to reduce their energy consumption and costs.
"Too often, sustainable disclosure is a manual, time-consuming chore that's detached from evergreen business priorities. Ultimately, behind every ton of emissions is a cost - whether it's energy spend, logistics investments, or purchased goods and services," says Saleh ElHattab, CEO and Co-Founder of Gravity. "Gravity taps into the fact that these cost centers are already well-tracked and can be measured automatically, while connecting the task of reporting back to every company's core financial priorities of cost and risk mitigation. Reporting should be easy and connected to business value."
Unlike other platforms that require manual data entry, Gravity automates data collection and calculates audit-ready sustainability reports, offering a frictionless experience that has convinced over 60% of Gravity's customers to switch from other providers. Gravity's industry-leading data collection capabilities seamlessly integrate with each customer's existing energy tracking, supplier engagement, ESG measurement, and reporting modules, dramatically lowering their compliance burden and time spent on disclosure. One customer reported that Gravity's AI-powered bill scanning saved them an estimated 4,600 hours - or 578 days of work - annually.
Gravity's platform also turns the act of reporting into one of value creation. Through energy audits, financing partnerships, and a marketplace of trusted vendors, Gravity is a one-stop shop for companies to execute projects that improve balance sheets by enhancing energy efficiency and unlocking new electrification and energy storage opportunities. One Gravity project - an HVAC optimization for a Midwestern utility - saved the customer over $2M annually. Another project, for a vertically integrated developer in Nevada, secured over $1M in federal incentives for construction improvements that were both sustainable and modernizing.
"Gravity is the first platform we've seen successfully leverage LLMs to automate emissions reporting for large-scale organizations and turn carbon accounting into a value driver by identifying and executing cost-saving opportunities through their marketplace," said Marco DeMeireles, Co-Founder and Managing Partner at Ansa Capital. "With a founding team that combines deep industrial expertise with world-class climate strategy and engineering excellence, we believe Gravity will be instrumental in helping the largest emitters move beyond emissions calculation to actively managing their energy costs through pragmatic, high-ROI actions on one convenient platform."
The solution has struck a chord with the market, driving 400% year-over-year revenue growth. Gravity works with Fortune 500 companies, global enterprises, and leading private equity firms, including WM, Autodesk, and MiddleGround Capital. It is also supporting the companies that make up their supply chains and portfolios, including construction firms like McCarthy Holdings, Inc.; distributors like TTI, Inc., a Berkshire Hathaway Company; and metals suppliers like Wisconsin Aluminum Factory.
"We chose Gravity because it was the only solution that truly automated the data ingestion process and empowered us to go beyond reporting to reduce costs and increase business resilience," explains Sachin Shivaram, CEO of Wisconsin Aluminum Factory. "Thanks to Gravity, we are executing energy projects that deliver over $400,000 in annual savings, more than paying for itself. The team consistently goes above and beyond to anticipate our business needs, shepherding us through a journey that would have otherwise been very difficult."
Gravity plans to invest the Series A funds in product research and development as the company expands its carbon management solution and customer experience. In particular, Gravity will double down on its energy efficiency marketplace, making it easier for customers to identify and implement energy efficiency projects and introducing new decarbonization and financing partners. The company will also expand its team in the US and EU to deliver the platform to new markets and empower customers to meet new regulatory reporting requirements.
To learn about Gravity's solution and see the platform, visit their website here.
About Gravity
Gravity is an end-to-end carbon accounting and energy management solution that aligns sustainability and business impact. Built for energy-intense operations and companies with complex supply chains, Gravity empowers the world's makers and leading institutions to easily comply with emissions reporting requirements, win over customers, and reduce costs by optimizing energy use. With industry-leading technology, Gravity ensures customers can navigate the changing regulatory environment with confidence and execute projects that drive meaningful energy reductions, while protecting - and enhancing - their bottom line. Learn more and arrange a demo at www.gravityclimate.com.
About Ansa Capital
Ansa Capital makes high-conviction, thesis-driven investments in technology companies scaling from early venture to early growth. Backed by leading institutions, including Princeton and Accolade Partners, we focus on investing in new markets, innovative distribution models, and modern software tools-serving as the hub for tomorrow's leading companies, operators, and ideas. We leverage our prior experience as partners to companies like CrowdStrike, Coinbase, Zscaler, and Peloton to support our operators' evolution into category definers. Our commitment extends beyond capital: our team and network of advisors aid founders in operational scaling, while our Revenue Council of experienced go-to-market leaders provides indispensable tools and resources to accelerate the path to market leadership. Our ambition is to be your most aligned and impactful partner. Learn more at www.ansa.co
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