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Climate change, biodiversity and other environmental concerns; social issues such as diversity, equity and inclusion; as well as worker well-being are woven into broader environmental, social and governance (ESG) discussions — discussions that every enterprise needs to have to achieve sustainability goals and meet ESG compliance requirements.
However, an overwhelming amount of data and a lack of technology can make it difficult for organizations to make data-driven decisions related to ESG. Additionally, due to existing knowledge gaps, corporations have to rely on expensive consultants to bring the necessary expertise into their organization.
“With the rapid momentum around ESG, teams are stuck manually organizing an enormous amount of data to understand how to identify and manage non-financial risks and stakeholder requirements. Because of this, the majority of time is spent collecting data and building reports rather than implementing solutions,” Beeri Amiel, CEO and cofounder, Continue AI, told VentureBeat. Amiel says Continue AI uses artificial intelligence (AI) to analyze millions of data points to deliver insights that provide action plans that enterprises can implement across their organizations.
Founded in 2021, Continue AI — which today announced $5.7 million in seed funding — aims to harness data to provide a new layer of sustainability intelligence that business leaders never had before to mobilize companies into sustainable action and create meaningful change.
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Embedding intelligence into ESG measures
“My cofounders, Alon Arad, Yonatan Maor, and I have spent our careers building big data products and deeply understand the importance of using data to drive corporate decision-making,” said Amiel. “Through our work, we found out that one of the biggest challenges corporations are facing today is around being able to actually make data-driven decisions regarding sustainability.”
Continue AI also claims to empower their customers’ ESG teams with data to make decisions on their own and build a sustainability practice internally. They do this with publicly available data, without requiring lengthy internal integrations, and provide insights that make a difference to corporate sustainability programs from day 1. Along with the strategic data analysis, Continue AI also enables companies to continuously stay ahead of stakeholder expectations while navigating the ESG cycle from start to finish.
The way to a sustainable future
ESG is in its early stages, going from a voluntary activity to mandatory as regulations begin to come into play in the U.S., Europe and the rest of the world.
“Most companies today are working to figure out what data they need to look for and then figure out how to bring in the solutions that help them get to where they need to be. On both fronts, it’s still the early days, but companies across the board are beginning to understand how important this is for the way they manage their business,” said Amiel.
“We are planning to continue to develop our technology and expand our go-to-market, actually getting in front of as many sustainability teams as we can and getting the product in their hands.
“Overall, we want to enable sustainability leaders to truly focus their resources on what is most important — creating a better future,” said Amiel.
Continue AI’s client roster includes multiple Fortune 500 and public companies including Royal Caribbean, Amiel says. Today’s funding round was led by Grove Ventures and Maple Capital, with participation from Ride Ventures, Liquid2, and Kindergarten Ventures.