Funding Rounds · · 2 min read

Verse Raises $20.5 Million to Revolutionize Clean Energy Management for Corporations

Verse, a provider of clean energy management software, has secured $20.5 million in Series A funding.

Verse Raises $20.5 Million to Revolutionize Clean Energy Management for Corporations

Verse, a provider of clean energy management software, has secured $20.5 million in Series A funding. This investment round, led by Google Ventures with contributions from Coatue, CIV, and MCJ Collective, will bolster Verse’s efforts to scale commercial operations and enhance product capabilities aimed at reducing corporate emissions and electricity costs.

Transforming Corporate Energy Consumption

Verse’s innovative software empowers organizations to understand, plan, and manage their clean energy needs.

“Commercial and industrial electricity use is a significant contributor to global emissions. We need to make clean energy the most economical option for large electricity consumers, but existing solutions don’t scale. Our Series A round, backed by an impressive roster of investors, will fuel Verse’s growth and enhance our software product suite, enabling more businesses to reduce both the cost and emissions of their electricity.” - Seyed Madaeni, CEO or Verse

Addressing Modern Energy Challenges

Several trends are increasing the urgency for organizations to transition to clean energy:

  1. AI and EVs: The rise of power-intensive technologies is driving up energy consumption and associated emissions.
  2. Corporate Electricity Costs: Recent geopolitical and weather events have caused electricity prices and volatility to soar.
  3. Regulatory Demands: New rules in the U.S. and EU mandate carbon disclosure, pushing organizations toward more detailed carbon accounting and clean energy purchases.
  4. Legacy Procurement Costs: Traditional methods of procuring clean energy involve high transaction and overhead costs.

Verse’s Innovative Solution

Verse’s AI-enabled software platform, Aria™, addresses these challenges by allowing organizations to set goals and create roadmaps for optimal, cost-effective clean energy portfolios in minutes.

This approach significantly reduces transaction costs and provides instant benefits.

“Emerging regulations and technologies are challenging companies to manage complex clean energy portfolios and become experts quickly. The Verse team has combined industry expertise with advanced software to build a powerful, cost-effective solution with instant benefits, and we’re happy to back their efforts to accelerate the clean energy transition.” - Andy Wheeler, General Partner at Google Ventures

The Aria™ Platform: Pioneering Clean Energy Management

Founded in 2022 by Seyed Madaeni and Matt Penfold, Verse’s Aria™ platform supports companies at any stage of their clean energy journey.

Whether setting net-zero goals, procuring renewable energy credits (RECs), or managing portfolios for hourly matched carbon-free energy (CFE), Aria™ helps organizations reduce electricity costs and emissions.

By optimizing for least cost and managing risk, Aria™ makes clean energy an economically smart choice.

About Verse

Verse’s SaaS platform, Aria™, leverages generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets.

Aria™ enables customers to target specific goals such as cost, emissions, or hourly matching and optimizes for annual matching, emissions matching, or hourly CFE.

By reducing transaction costs by up to 70% and offering real-time analysis within minutes, Aria™ is accelerating the clean energy transition for corporations.

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