Industries

Features

Resources

Company

Atlas Metrics raises €12.2M Series A funding to make ESG compliance effortless across Europe

Sep 30, 2024

·

Lauren Maupetit

Atlas Metrics team
Atlas Metrics team
  • Series A funding round led by MMC Ventures with strong participation from existing investors Cherry Ventures, b2venture and Redstone.

  • Atlas Metrics plans to invest in its team, expand into new markets, and continue to develop its ESG compliance and performance management offering.

  • The company is tapping into the €88bn market of holistic performance management.

  • In the EU, the regulatory pressure for ESG (Environmental, Social, and Governance) reporting and compliance is rapidly growing, with over 62,500 organizations directly impacted by 2025.

  • Atlas Metrics focuses on helping mid-sized companies and financial institutions meet these requirements by automating and streamlining CSRD reporting and all related regulatory obligations, reducing both costs and legal risks.

Atlas Metrics provides an all-in-one platform for ESG compliance and sustainability performance management. Through automation, AI, secure data sharing, and advanced analytics, the B2B platform makes it easy for any organization to measure and communicate its impact. 

“For all businesses across all industries, ESG reporting and compliance has become a necessary part of operations”, said Wladimir Nikoluk, Founder and CEO of Atlas Metrics. “But it is costly and risky to manage. This funding will allow us to enhance our product offerings, not only to simplify ESG compliance but also to turn sustainability data into a competitive advantage”.

Access to data on non-financial impacts is crucial to meet increasingly strict regulations, protect key business value drivers, and operate with transparency toward all stakeholders and the environment. In the EU, the regulatory pressure is rapidly growing. By 2025 over 62,500 organizations must meet rigorous annual requirements, including double materiality assessments, corporate carbon footprint accounting, and audit-ready CSRD (Corporate Sustainability Reporting Directive) reporting. A German company with €100 million in revenue is estimated to incur an annual cost of €250,000 for manual compliance and a €5 million fine (5% of turnover) for non-compliance. 

Atlas is emerging as the winner in a competitive market. KfW Capital, one of Europe’s largest investors, has chosen the platform to track its portfolio of over 100 funds and 1,300 portfolio companies. Through its partnership with DG Nexolution, a key provider of digital solutions within the German cooperative network, up to 700 banks and their business customers will have the opportunity to use the platform. Leading consultancies like PwC Belgium and TK Moore also now provide access to Atlas Metrics in parallel with their sustainability services to help customers automate otherwise manual tasks.

“Atlas’ success is testimony to their commitment to building a technology-first rather than consulting-first company. For 3 years, they have innovated around data transfer and aggregation within and across organizations, modular software architecture, and sophisticated end-to-end user flows. We are proud to have backed them since day one,” says Filip Dames, Founding Partner at Cherry Ventures.

Oliver Richards, Partner at MMC Ventures, added, "Atlas Metrics is at the forefront of a critical shift, accelerated by regulatory tailwinds, towards greater transparency and accountability in business practices. We are thoroughly impressed by their comprehensive platform, which not only streamlines ESG compliance but also offers valuable data and analytics, enabling organizations to make informed strategic decisions. We are thrilled to support their mission and growth trajectory."

“Atlas Metrics stands out as a solution that goes beyond pure reporting and is on track to become a key data infrastructure player. We are enormously excited by both their progress as a company and their mission to address a major pain point as organizations worldwide adapt to new ESG regulations and compliance standards,” according to Jan-Hendrik Bürk, Partner at b2venture. 

About Atlas Metrics 

Atlas Metrics simplifies ESG reporting and automates compliance with next-generation sustainability software. The company’s platform enables any organization to effortlessly measure and communicate business impact through automation, AI, secure data sharing, and advanced analytics. By providing essential data and reporting tools, Atlas Metrics accelerates the transition to sustainable business models. We are backed by renowned investors like MMC Ventures, Cherry Ventures, b2venture and Redstone.

Learn more: https://www.atlasmetrics.io/

Press contact: press@atlasmetrics.io

About MMC Ventures

MMC is a leading European venture capital firm with a focus on early-stage AI and data science companies across sectors including cloud & data infrastructure, enterprise AI, fintech and data-driven health. Examples of companies MMC has backed include Synthesia, Copper, Signal AI, Current Health and Snowplow Analytics.

Learn more: https://mmc.vc/

Ready to simplify your ESG reporting? Manage all your compliance needs with one powerful tool!

Ready to simplify your ESG reporting? Manage all your compliance needs with one powerful tool!

Ready to simplify your ESG reporting? Manage all your compliance needs with one powerful tool!

More articles