PE International, a leading provider of sustainability management software and an Enterprise Carbon Accounting (ECA) Emerging leader, announced today a USD $11m funding round from Siemens Venture Capital and Gimv.
Our view is that this is a great move by PE. With a long list of customers, PE is extremely experienced in the product and company carbon management areas, and this capital will allow it to increase market awareness and sales coverage as it competes with larger and well capitalized competitors. We suspect PE will deepen its relationship with Trade Wind in the US. This will also help PE address prospect concerns about vendor viability as the ECA vendor market consolidates from 75+ vendors.