Arcadia, a climate crisis–fighting technology company, has raised a $200 million funding round, led by an inaugural investment from J.P. Morgan Asset Management's Sustainable Growth Equity Team.
A series of new investors also participated in the financing round, including Keyframe Capital, Broadscale Group and Triangle Peak Partners, as did existing partners Camber Creek, Tiger Global Management, Wellington Management, Salesforce Ventures, Drawdown Fund, MCJ Collective and more.
Arcadia provides companies with easy-to-use data, clean energy and APIs, addressing issues with access to comprehensive, accurate utility data. The financing will help accelerate the impact of Arcadia's data and API platform, Arc, by expanding data coverage and new product development to empower companies to monitor, report and act on their carbon impact.
Currently, more than 100 innovators across verticals such as electric vehicles, solar, storage and Smart Home IoT use Arc APIs to de