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Kentaro Kawamori CEO Persefoni

Persefoni Climate Management, Carbon Accounting Software Gains Generative AI Capabilities; $50M Funding

August 14, 2023 by Joe Panettieri

Persefoni has raised $50 million in Series C-1 funding, and the climate accounting software firm has added more generative AI capabilities to its platform. Persefoni's business valuation was not disclosed.

Persefoni, founded in 2020, is based in Tempe, Arizona. The company's software enables customers to simplify the calculation of their carbon footprint, identify decarbonization strategies and perform climate trajectory modeling aligned to temperature rise scenarios set forth by the Paris Agreement, the company asserts. From there, the software allows customers to benchmark their impact by region, sector, and/or peer groups, Persefoni asserts.

Persefoni, led by CEO Kentaro Kawamori (pictured, top of page) has developed a partner program that engages consulting and technology companies.

AI for Climate Management, Carbon Accounting Software

In terms of AI capabilities, PersefoniGPT makes it easier for customers to query data, make calculation selections, learn how to use the platform, and receive real-time support, Persefoni asserted. Moreover, the software platform now features models that enable, among other functionality, anomaly detection, natural language data matching, and automated data error resolution, the company added.

Similar to the Microsoft Copilot strategy for AI software, multiple carbon accounting and ESG software providers are adding generative AI capabilities to their platforms. For instance, Workiva's software platform gained generative AI integration capabilities with third-party platforms such as Google Cloud and Microsoft Azure in. Workiva committed to maintaining an "open ecosystem" approach to Generative AI, while also maintaining a "responsible" use of AI.

While AI may help to further automate and improve climate applications, AI workloads often are energy-intensive and consume more power than traditional software, Deloitte has pointed out. Still, companies such as IBM are developing technologies to make AI more energy efficient, BBC reported.

Persefoni: Carbon Accounting Software Funding

Meanwhile, Persefoni also announced a $50 million Series C-1 funding round led by TPG Rise. Additional investors included Clearvision Ventures, ENEOS Innovation Partners, NGP Energy Technology Partners, Prelude Ventures, Parkway Ventures, Rice Investment Group, Bain and Co., EDF, and Alumni Ventures. The software company has now raised over $150 million since the company's inception.

Kim Stroh, co-founder and head of AI at Persefoni

In a prepared statement about the funding, Persefoni CEO Kentaro Kawamori said: "This Series C round represents a significant vote of confidence in our strategic vision, our product and sales execution, and our commitment to bringing best-in-class climate software solutions to our customers. This new investment not only ensures our ability to provide industry-leading support to our global customers, but it also enables us to double down on our existing, successful AI developments.

Added Kim Stroh, co-founder and head of AI at Persefoni: "Our early shift to invest in the transformative power of AI and machine learning technologies continues to pay dividends. Not only are we able to reduce costs, we're propelling our solutions into a new model of efficiency and intelligence,. This innovation drives sustainability and efficiency simultaneously, and it's a key reason why Persefoni is trusted by partners leading in their respective markets, like Workiva, Deloitte, ERM, and Bain & Co."

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