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Patch raises $55m in Series B round led by Energize Ventures

Climate tech company Patch has raised $55 million in a series B funding round, led by Energize Ventures. New and existing investors including Coatue Management and Andreessen Horowitz also participated in the round which brings total funding raised to date to $80 million.

With Patch’s platform, businesses of any size, with any budget, can purchase carbon credits as a means of taking climate action. The transparent infrastructure is transforming a traditionally complex and opaque system for purchasing carbon credits. Patch also provides those developing the climate solutions with the infrastructure they need to grow and scale their businesses, facilitating impactful transactions on the voluntary carbon market, which is projected to become a $100 billion market by 2050.

In the last year, Patch grew its customer base five times to more than 100 companies worldwide. 

This latest funding round will continue to support hiring, growth into new markets and development of an expanding technology footprint, putting the company on track to deliver massive climate impact across the globe. 

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