Tracera’s Mission to Streamline ESG Compliance
New York-based sustainability data platform Tracera has announced a successful $12 million Series A funding round, aimed at scaling its artificial intelligence-powered platform that helps companies meet environmental, social, and governance ESG reporting platform requirements. Formerly known as ESG Flo, the company—founded in 2022—offers an innovative platform that automates the collection, verification, and auditing of sustainability data from various sources.
Tracera’s tools are designed to simplify the ESG compliance process for businesses, making it easier to validate and support sustainability claims with traceable and reliable data. This approach not only reduces operational costs but also helps businesses navigate the increasingly complex landscape of sustainability regulations.
The latest funding round arrives on the heels of the company’s recent launch of a new Scope 3 emissions data tool. This tool provides businesses with in-depth insights into supplier-specific emissions, helping them understand and mitigate their overall environmental footprint.
Vision for Sustainable Growth
Tracera CEO Patrick Obeid emphasized the company’s broader mission of aligning sustainability with profitability. “At Tracera, we’re revolutionizing the way businesses see growth—proving that sustainable growth and financial success are one and the same,” he said. According to Obeid, the power of data-driven sustainability reporting lies not only in regulatory compliance but in its ability to uncover inefficiencies, boost competitiveness, and support long-term leadership in a demanding market.
By leveraging AI, Tracera aims to transform ESG reporting platform from a burdensome obligation into a valuable strategic asset. Its platform provides automated processes that reduce human error, enhance transparency, and improve data quality—key factors in building trust with stakeholders and regulators alike.
The company’s rebranding from ESG Flo to Tracera reflects its evolving vision of offering end-to-end, traceable ESG reporting platform solutions, helping businesses make sustainability an integral part of their corporate DNA.
Strategic Investment and Market Outlook
The $12 million funding round was led by Foundry, with participation from Rho Ignition, Tola Capital, and Contour Venture Partners. As part of the deal, Foundry Partner Seth Levine will join Tracera’s board of directors. He will collaborate with key industry leaders including Rho Capital Partners’ Habib Kairouz, Tola Capital Venture Partner Karolin Beck, and Confidence CEO Patrick Quinlan.
Levine emphasized the growing importance of ESG transparency, stating, “With regulatory pressures mounting and scrutiny of sustainability claims intensifying, the demand for accurate, traceable data is surging.” He noted that Tracera’s comprehensive, AI-powered platform is ideally positioned to meet this demand, enabling companies to transform ESG compliance into a competitive advantage.
With global ESG regulations evolving rapidly and investor scrutiny increasing, Tracera’s platform is poised to play a critical role in helping businesses navigate sustainability reporting challenges while unlocking growth opportunities rooted in responsible and transparent practices.
