Carbon accounting for the rest of the economy - software that reads a company's bank statements, utility bills and cloud usage, then hands back an emissions report a human expert has actually checked.
Every company emits carbon. Very few can tell you how much. That gap - between wanting to act on climate and being able to measure it - is the problem Greenly set out to close.
Greenly was founded in Paris in 2019 by Alexis Normand, Matthieu Vegreville and Arnaud Delubac. The first version was a consumer app that estimated a person's carbon footprint by reading their bank transactions. It worked - the app crossed 100,000 users by late 2020 - but the founders saw a bigger, harder problem sitting one layer up: businesses had almost no practical way to measure their emissions without hiring consultants for six-month engagements that ended in a PDF nobody read.
So they pivoted. The consumer app had taught them the hard part - the data plumbing needed to translate ordinary financial and operational records into emissions estimates. Greenly turned that into B2B software. Instead of a survey and a spreadsheet, a company connects its accounting system, utility accounts and cloud providers, and the platform calculates a greenhouse-gas footprint broken down by category and by scope, following the GHG Protocol.
The pitch is deliberately unglamorous: carbon accounting that behaves like accounting software. That framing matters, because Greenly's target isn't the sustainability department of a multinational - those firms already buy from enterprise vendors. It's the finance lead at a 40-person company who has never heard of Scope 3 but is suddenly being asked by a large customer, a bank or a regulator to produce numbers.
By 2023 the company's turnover had passed $10 million. In March 2024 it raised a $52 million Series B led by Fidelity International Strategic Ventures, pushing total funding to roughly $78.6 million. Today Greenly reports serving around 3,500 clients across 25 countries, with roughly 250 employees and offices in Paris and New York.
"Greenly's mission is to democratize climate action - to make carbon management accessible to businesses of all sizes." — Greenly, on its mission
Corporate emissions are split into three "scopes" under the Greenhouse Gas Protocol. The first two are relatively easy. The third - everything in your supply chain that you don't directly control - is where most of a company's footprint hides, and where most software falls down. Greenly's wedge is making Scope 3 tractable through automated data pulls and a supplier-engagement platform.
Fuel burned on-site, company vehicles, direct process emissions.
Purchased electricity, heating and cooling.
Suppliers, purchased goods, freight, business travel - often the majority of a footprint.
Bars illustrate the relative difficulty/typical weight of each scope, not exact figures.
Greenly positions itself as an all-in-one sustainability suite: measure the footprint, act on it, and produce the reports regulators and customers now demand.
Automatically aggregates financial, utility, cloud and supply-chain data to calculate emissions across Scopes 1, 2 and 3.
AI assistant that pulls and classifies emissions data automatically, cutting the manual work in a carbon assessment.
Full greenhouse-gas reports - over 4,000 delivered - backed by Greenly's in-house climate experts.
Analyzes the environmental impact of individual products and supports Environmental Product Declarations.
Reporting tools aligned with the EU's Corporate Sustainability Reporting Directive and other ESG standards.
A platform to collect primary Scope 3 data directly from suppliers instead of relying on estimates.
The carbon-accounting category is crowded - Watershed, Persefoni, Sweep, Normative and others all compete for it. Greenly's answer is a specific combination: automation for the drudgery, real climate experts for the judgment, and a focus on companies the giants overlook.
Greenly sells B2B software on subscription, with tiers scaled to how deep a company needs to go on Scope 3 automation and reporting. Bundled around the software is access to Greenly's climate experts - the part that turns a data tool into a service customers trust.
The tailwind is regulation. As the EU's CSRD and similar rules push emissions disclosure from voluntary to mandatory, carbon reporting shifts from a nice-to-have into a recurring compliance need - exactly the kind of demand that suits a subscription business. That is a large part of why investors like Fidelity, HSBC and Hewlett Packard Enterprise were willing to write checks: they are betting on a market that regulation is expanding, not one that a trend might abandon.
By 2023 Greenly had passed $10 million in annual recurring revenue, and CEO Alexis Normand has said the goal is to roughly double that each year. Customers span SMEs to enterprises across Europe and a growing US base - around 3,500 organizations in 25 countries, having received more than 4,000 GHG reports.
"The platform pulls in customer data - utility data, freight bills, cloud usage and financial records - and couples it with Greenly's own data and algorithms to calculate emissions by category and scope." — Reported description of Greenly's product
Normand, Vegreville and Delubac launch Greenly with a consumer carbon-tracking app.
The app crosses 100,000 users; Greenly moves into business carbon accounting and is named FinTech of the Year in France.
Energy Impact Partners and XAnge co-lead the round as Greenly expands to the US.
Adoption of ESG and CSRD reporting accelerates demand.
Total funding reaches ~$78.6M; Greenly launches EcoPilot AI.
Named by Sifted to its list of the 100 fastest-growing startups in France and Southern Europe.
| Round | Amount | Date | Lead / notable investors |
|---|---|---|---|
| Series A | €21.27M | Apr 2022 | Energy Impact Partners, XAnge |
| Series B | $52M | Mar 2024 | Fidelity International Strategic Ventures (lead); BGV, Move Capital, HPE, HSBC, XAnge, EIP; Brian Halligan (HubSpot) |
| Total | ~$78.6M | — | Across all rounds |
Greenly's first product estimated personal footprints by reading bank transactions before pivoting to B2B.
The consumer app hit six figures of users - and taught Greenly the data plumbing it now sells.
Greenly estimated the 2022 FIFA World Cup emitted ~6M tonnes CO2e - nearly double FIFA's official figure.
A 2024 Greenly study put TikTok's annual carbon footprint near 50M tonnes CO2e.
HubSpot co-founder Brian Halligan is among the investors in the Series B.
French-born, Greenly also lists a New York address and serves clients across 25 countries.
It makes carbon-accounting software that helps companies measure, report and reduce greenhouse-gas emissions across Scopes 1, 2 and 3, combining automated data collection with human climate experts.
Alexis Normand (CEO), Matthieu Vegreville (CTO) and Arnaud Delubac (CMO) founded the company in Paris in 2019.
About $78.6 million total, including a $52 million Series B led by Fidelity International Strategic Ventures in March 2024 and a €21M Series A in 2022.
Around 3,500 companies across 25 countries, from SMEs to enterprises, with a strong European base and a growing US presence.
Greenly targets SMEs and the European mid-market, centers ADEME and EU CSRD compliance, and pairs AI-driven data collection with human climate experts, whereas rivals often focus on large enterprises and financial institutions.