Scope3, the collaborative sustainability platform dedicated to decarbonizing media and advertising, has successfully closed a $20 million Series B funding round led by GV.
This funding will propel the development of Scope3’s groundbreaking Collaborative Sustainability Platform (CSP), a revolutionary tool that visualizes the intricacies of the ad ecosystem, facilitating impactful carbon reduction efforts.
The funding will also be channeled towards expanding Scope3’s team of experts in advertising, technology, and sustainability, as well as enhancing its data and measurement capabilities.*
As global brands and advertisers increasingly commit to carbon reduction initiatives and navigate regulatory requirements, partnerships with innovative companies like Scope3 have become instrumental. This funding signals a clear message: sustainability is a core component of the future of advertising.
Brian O’Kelley, Co-Founder, and CEO of Scope3 emphasized the urgency of addressing the climate crisis. He stated, “The climate crisis is an urgent and global problem. With all eyes on the world’s largest brands, advertisers, and businesses to solve it, these companies are embracing sustainability as an opportunity that is both good for the planet and good for business. Sustainable advertising is inevitable.”
O’Kelley expressed gratitude for the support of GV and other investors, highlighting the pivotal role of GV’s climate tech focus and deep understanding of advertising technology.
Erik Nordlander, General Partner at GV, underscored Scope3’s impact and innovative approach. He commented, “The company’s focus on measurement and reduction takes the right approach to decarbonization, 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.”
Founded in December 2021, Scope3 introduced a comprehensive emissions model that meticulously maps and calculates the carbon footprint of the entire digital advertising supply chain. This model empowers companies within the ad ecosystem to assess carbon emissions and make data-driven decisions that optimize toward carbon reduction.
Scope3 collaborates with key stakeholders, including verification partners like DoubleVerify and Integral Ad Science, numerous renowned brands and publishers such as Sanofi, MasterCard, Insider, and Microsoft’s MSN, as well as major global agency holding companies like GroupM and IPG.
Additional investors in this round include Room40 Ventures and Venrock, solidifying Scope3’s position as a leading force in reshaping the future of sustainable advertising and media.
