Planet Metrics, a San Francisco-based carbon information management software company, announced today the launch of the company and the close of $2.3 million in Series A funding. Funding to Planet Metrics was provided by angel investors and Draper Fisher Jurvetson.
Planet Metrics' services are designed to help businesses understand where carbon emissions occur in their business, what drives these emissions, how they can be reduced, and where changing fuel, energy, or carbon costs may impact the cost of doing business. Planet Metrics utilizes what it describes as a Rapid Carbon Modeling (RCM) approach, which it states provides corporate managers with broader and deeper views of the carbon intensity associated with business activities in the supply chain, product design, packaging, logistics and waste streams. A visual representation of Planet Metrics' RCM approach is provided below (click for full-size image):
"Corporate social responsibility initiatives have moved from peripheral 'nice to haves' to core business strategies. Environmental solutions are now about saving money by using fewer resources," said Andy Leventhal, CEO and co-founder of Planet Metrics. "In tough economic times, companies search for efficiency. Organizations can achieve high ROI by analyzing the way they manage their facilities, build products and services, transport and distribute goods to customers. Our software builds a carbon model that helps Fortune 1000 companies understand, develop and deploy sustainability strategies which directly affect bottom line financial performance."
Raj Atluru, Managing Director at Draper Fisher Jurvetson, said, "We're thrilled to have the opportunity to work with Planet Metrics to help leading brands understand how they can best drive efficiencies into their businesses while lessening the harmful gases they emit into the environment. The Planet Metrics team has the industry's best minds, unbridled passion and commitment to customers to effectively drive this game-changing solution at such an important time in our world."
Planet Metrics also announced today that the Consumer Electronics Association (CEA), which produces the annual International CES, the world's largest consumer technology tradeshow, has chosen Planet Metrics to measure and analyze the amount of carbon and other greenhouse gases emitted as a result of its upcoming 2009 event.
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