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New York-based startup Clarity AI has raised $15 million in a venture round as it looks to expand its social impact measurement platform, which leverages big data and machine learning to assess investment sustainability for stakeholders.
The funding round, led by Deutsche Boerse AG and Alma Mundi Ventures, will help drive Clarity AI’s sustainable expansion plans.
These include scaling investment in “proprietary technology and AI, as well as integrating with the world’s largest financial services platforms.”
The company currently relies on data gathered from 30,000 companies, 198 countries, 187 local governments, and more than 200,000 funds.
“Our purpose is simple: to measure the impact of companies on our society and planet,” said Rebeca Minguela, founder and CEO of Clarity AI.
“Investors attempting to evaluate impact have faced fragmented and unreliable data, inconsistent subjective definitions, and a lack of standards and tools for comprehensive analysis. Historically, it has been too hard and resource-intensive to get accurate and transparent insights.”
Clarity AI, founded in 2017, uses proprietary algorithms and technology to create comprehensive assessments for investors.
“It has never been more important for investors to have accurate insights on the true impact of the companies in which they place their trust and their money,” Minguela said. “That is why we are scaling up our business to enable investors to identify and support those companies helping solve society’s biggest challenges.”
The latest round brings the total raised to $30 million, with previous investors including Kibo Ventures, Founders Fund, Seaya Ventures, and Matthew Freud.
In addition to the funding, Clarity AI and Deutsche Boerse are exploring potential collaboration opportunities in the German exchange’s business.