Scope3 Secures $25M to Expand Decarbonization Efforts in Media and AI Industries

Scope3, a pioneering platform focused on decarbonizing media and advertising, has raised $25 million in funding to expand its efforts into the AI industry. This funding round was led by GV and included participation from existing investors such as Venrock, Room40 Ventures, and Craft Ventures, along with new investors Aperiam Ventures and Virgo Strategic Investments. The funds will allow Scope3 to extend its proven approach to decarbonizing the advertising supply chain and address the growing environmental impact of the rapidly expanding AI industry.

Since its inception in 2021, Scope3 has been a leader in sustainable digital media. The company's ad campaign sustainability solutions and open-source methodology have provided valuable tools for the media and advertising sectors to analyze and reduce their carbon emissions without compromising business success. Thousands of brands, including Coca-Cola, General Motors, Mastercard, and Sanofi, use Scope3 to decarbonize their media. In the past 18 months alone, nearly 3,000 metric tons of carbon emissions have been avoided through Scope3's Green Media Products. The company's usage revenue has grown 12 times year-over-year, highlighting the increasing demand for its decarbonization solutions across the industry.

Scope3 Raises $25M in Funding to Expand into Sustainable AI | Business Wire

As AI continues to be adopted at an unprecedented rate, its environmental repercussions are becoming more apparent. The training process for a single AI model requires thousands of megawatt hours of electricity and generates hundreds of tons of carbon emissions. Companies are under increasing pressure to implement AI strategies while adhering to climate commitments. However, many need help balancing advancing AI and reducing their carbon footprints. This is where Scope3 sees an opportunity. By applying its expertise in decarbonizing the media and advertising supply chain, Scope3 aims to help companies in the AI industry address their sustainability challenges without hindering innovation and business growth.

Brian O'Kelley, Co-Founder and CEO of Scope3, noted that AI and the media industry are becoming increasingly intertwined. He explained that the most prominent AI companies are monetizing through advertising, just as the tech giants in search did before them, and every marketer is now using AI to create content for their campaigns. This growing overlap between AI and advertising makes it imperative to address AI's environmental impact with the same decarbonization efforts Scope3 has pioneered in media.

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Scope3's open-source AI methodology will soon be available to the public. This methodology will allow companies to trace and measure the environmental impact of AI products, processes, and services across their entire life cycle. This transparency will enable businesses to make data-driven decisions on how and when to deploy AI solutions to minimize their carbon emissions while maximizing the effectiveness of their AI investments.

Erik Nordlander, General Partner at GV, expressed excitement about Scope3's expanded focus on sustainable AI practices, noting that the company has the technology, expertise, and talent necessary to decarbonize both the media and AI industries. He highlighted Scope3's impressive progress in the advertising supply chain and emphasized the importance of sustainable AI practices that can address environmental concerns while delivering real business value. Nordlander added that GV is proud to deepen its partnership with Scope3 and support its mission of creating a more sustainable future.

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In just a short time, Scope3 has established itself as a global leader in the fight against climate change, particularly in digital advertising. The company's public benefit corporation status underscores its commitment to tackling one of the most significant challenges of our generation: the climate crisis. With its global team of researchers, technologists, and digital advertising experts, Scope3 is well-positioned to significantly reduce the environmental impact of both media and AI, helping companies align their sustainability goals with their business objectives.

Scope3's continued growth, combined with its newly secured funding, sets the stage for the company to take on the environmental challenges of AI, just as it has done in the advertising industry. By expanding its platform and solutions, Scope3 aims to create a sustainable future where businesses can thrive without compromising the planet.