London-based ESG reporting platform secures six figure funding

Sustainability management and ESG reporting platform FuturePlus has closed an up-round of £750,000 with further investments from Two Magnolias, Vala Capital and HNW individuals and family offices. Funds raised will secure FuturePlus’ position as one of the hottest sustainability management and ESG reporting platforms since its launch in February 2022.

Hailed by investors as the platform that will revolutionise how sustainability and ESG goals are managed and reported to meet increasingly tight regulations, FuturePlus is growing at pace, having attracted over £1.6m in venture capital investments to date and growing its workforce by 133 per cent in the past year.

It currently boasts over 150 clients from a wide variety of industries, including finance, hospitality, technology, the built environment and retail, all of whom are actively managing their sustainability ambitions in the mission to become better organisations across five themes: Climate, Economic, Diversity & Inclusion, Social and Environment.

Customers include Soho House, Grind Coffee, numerous VC and PE funds, Atlas FM and The Project Management Institute, and partners include International Real Estate Partners (IREP), Diode, Sustainable Spa Association and Expect.ai.

The latest investment round is testament to the potential of FuturePlus’ platform and the business acumen of its senior team as well as representing an impressive achievement in an environment where the cost of living crisis is impacting the risk appetites of funds and VCs, and Q1 of this year being the slowest fundraising quarter in Europe in over six years.

The newly-secured funds will take the business to profitability and enable it to invest in staff capacity, the development of the platform, and client acquisition through marketing and PR. As the world becomes more familiar with sustainability practices, businesses can’t see the wood for the trees, thanks to the ever-changing interpretations of ESG and the ratings platforms on offer.

FuturePlus’ mission is to make sustainability management accessible, affordable, achievable and trackable for every business - not just the 1 per cent that are able to jump through expensive, laborious hoops to win a coveted badge.

FuturePlus measures its own sustainability using its platform, and can demonstrate that it is currently making a positive impact in 16 of the UN’s 17 Sustainable Development Goals (SDGs). The FuturePlus team is currently 43 per cent neurodiverse and 86 per cent female identifying.

Alexandra Smith, co-founder and partner at FuturePlus, comments: “This fundraise has been conducted in a very challenging economy, but our merits and successes are firmly rooted in the fact that we have an incredibly strong team that is tackling sustainability in a way that’s never been done before.”

Mike Penrose, Co-Founder and Partner at FuturePlus, adds: “This fundraise is a milestone achievement for us at FuturePlus as we are determined to keep building an empathetic company that makes achieving and embedding sustainability accessible for every business, across every sector.”

Jessica Rasmussen, Co-Founder and CEO at Two Magnolias, says: “Earlier this year, Two Magnolias decided that FuturePlus would formally become its in-house ESG validation platform with all portfolio companies working through the assessment criteria, such that we can formally publish an holistic view of our investments.

“FuturePlus allows its clients to highlight the gaps in their approach to sustainability whilst setting clear ambitions for future success. It is essential for all of us to be held accountable as to how we manage and position our businesses, and we are excited to see the changes we’re able to effect using FuturePlus.”

By Mark Adair – Correspondent, Bdaily

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