# Cloverly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cloverly

- Industry: Software
- Headquarters: Atlanta, US
- Website: www.cloverly.com
- Total disclosed funding: $17M
- Latest round: Series A (May 11, 2023)
- Investors on record: 12

## About

Founded in 2018 and based in Georgia, US, Cloverly, Inc. operates as a developer of an online solution that calculates and neutralizes carbon emissions on a per-transaction basis. The company was founded by Anthony Oni from a spun-out of Southern Company. Jason Rubbottom serves as the CEO of Cloverly, Inc. Mr. Rubbottom also served as the GM of eBay and CEO of Ally Commerce, an eCommerce software company. In July 2021, Cloverly, Inc. received its latest seed funding from a group of investors that includes Tech Square Ventures, SB Opportunity Fund, and Circadian Ventures.

The company's product is an online solution that calculates and neutralizes carbon emissions on a per-transaction basis. It offers emission calculations that create real-time carbon offset estimates based on specific information such as shipping weight & origination, destination postal codes, and other data appropriate to the use case. The solution can also match the location, cost, and project type as closely as possible to the initial carbon-producing activity. It also generates a carbon impact estimation for every order added to the cart in eCommerce scenarios so customers can track the carbon impact of their order and details of the specific offset project used.

The company revenue is generated through a subscription-based format that can be classified from customers or merchants as their payment options. The cost per transaction is USD 0.25 per offset price and fees ranging from USD 0.15 to USD 0.02 for volume-based pricing.

The company will use the latest funding to support its employee recruitment and product development.

## Funding rounds

- Series A, May 11, 2023, $15M — Grotech Ventures, Aquiline Capital Partners, BIP Ventures, Tech Square Ventures, Impact Engine, SB Investment Advisers, SaaS Ventures, Knoll Ventures, Circadian Ventures, CreativeCo Capital, New Climate Ventures, Mission One Capital
- Seed, Jun 18, 2021, $2.1M — BIP Ventures, Tech Square Ventures, SB Investment Advisers, SaaS Ventures, Knoll Ventures, Circadian Ventures

## Investors

- BIP Ventures (https://capitalatlas.ai/funds/bip-ventures) — Seed, Series A
- Tech Square Ventures (https://capitalatlas.ai/funds/tech-square-ventures) — Seed, Series A
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Seed, Series A
- SaaS Ventures (https://capitalatlas.ai/funds/saas-ventures) — Seed, Series A
- Knoll Ventures (https://capitalatlas.ai/funds/knoll-ventures) — Seed, Series A
- Circadian Ventures (https://capitalatlas.ai/funds/circadian-ventures) — Seed, Series A
- Grotech Ventures (https://capitalatlas.ai/funds/grotech-ventures) — Series A
- Aquiline Capital Partners (https://capitalatlas.ai/funds/aquiline-capital-partners) — Series A
- Impact Engine (https://capitalatlas.ai/funds/impact-engine) — Series A
- CreativeCo Capital (https://capitalatlas.ai/funds/creativeco-capital) — Series A
- New Climate Ventures (https://capitalatlas.ai/funds/new-climate-ventures) — Series A
- Mission One Capital (https://capitalatlas.ai/funds/mission-one-capital) — Series A