Verse Raises $20.5M Series A

Verse, a San Francisco, CA-based company providing software that enables organizations to understand, plan, and manage clean energy, raised a $20.5M Series A funding.

The round was led by GV with participation from Coatue, CIV, and MCJ Collective.

The company intends to use the funds to support software product development and commercial scale.

Founded in 2022 by Seyed Madaeni and Matt Penfold, Verse provides software that helps companies reduce their electricity costs and scope 2 emissions at the same time. Its SaaS platform, AriaTM, leverages generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets at least cost. Customers can set parameters that target specific goals (e.g., cost, emissions, or hourly matching) and optimize for annual matching, emissions matching, or hourly matched carbon-free energy (CFE).