Risilience lands $26m Series B for climate analytics platform
Climate analytics company Risilience has closed a $26million Series B round to expand its science-based, climate-risk assessment and net-zero planning platform which is helping global businesses transition to the low-carbon economy.
Risilience was spun out of the Centre for Risk Studies at the University of Cambridge Judge Business School in 2021 after identifying a growing need for science-based climate analytics.
The Risilience platform turns data into actionable insights, empowering organisations to understand and quantify the scope, magnitude and timescale of climate risk to their strategies and operations. This allows companies to measure and balance the potential financial impacts with the cost of transitioning their business to operate more profitably in a low-carbon economy.
Risilience works with enterprise world leaders including Nestlé, Burberry, Coca-Cola Europacific Partners, Reckitt, easyJet and Tesco.
The round has been led by Quantum Innovation Fund, along with existing investors IQ Capital and National Grid Partners, and will allow Risilience to expand its market-leading SaaS platform to serve clients at any stage of their decarbonisation journey. The funds will also be used to drive international expansion, with a specific focus on the US where pending SEC rules will require climate and risk disclosures.
Risilience’s ‘digital twin’ technology enables businesses to stress test the impact of numerous transitional and physical risks on their organisation including increasing regulation, potential litigation and changing consumer sentiment, that together could reduce business value by up to 30 per cent if companies fail to act.
Dr Andrew Coburn, Risilience’s CEO, said: “We believe that the road to net zero presents an opportunity as well as a risk for global enterprises and our unique combination of technology combined with world-class risk science supports our clients to mitigate risks, as well as capitalise on opportunities.
“With companies under increasing regulatory and shareholder pressure to understand, report and mitigate their potential climate impact, this additional equity funding will help us support them at each stage of their journey.”
Risilience, which operates from 50-60 Station Road, assists clients from initial climate-related disclosures through to full net-zero planning, tracking and measurement, enabling them to make informed decisions in the low-carbon economy.
Jeffrey Harris, partner at Quantum Innovation Fund, said: “Risilience has demonstrated that its underlying technology platform allows large companies to better understand how best to transform their businesses and to meet the impact of climate change on their business models, supply chains and financial performance while optimising long-term capital allocation.
“The incremental capital provided in this financing round will enable the company to better support its growing list of clients, enhance the functionality of its software platform and expand its sales/marketing efforts.”
Kerry Baldwin, co-founder and managing partner at deep-tech investor IQ Capital, added: “We are delighted with the continued success Risilience has shown in terms of growth and the impact it is having on its existing client base.
“We look forward to their next stage.”
