CPE News (3.16.2022) – Validere Technologies, Ltd. has raised US $43 million in Series B funding led by select funds and accounts managed by BlackRock and Mercuria Energy, with participation from Nova Fleet, Pioneer Fund and Natural Gas Innovation Fund, and existing investors, Wing VC and Greylock Partners.
Brian Falik, Mercuria’s Chief Investment Officer – Americas, has joined Validere board of directors.
Founded by Nouman Ahmad, Pierre Magnan, Ian Bruce Burgess, and Dr. Joanna Aizenberg, Delaware domiciled Validere Technologies, Ltd. is a leading all-in-one commodity management platform for the energy industry. Validere has offices in Toronto, Calgary and Houston.
Validere previously raised US $7 million in 2018 in seed funding led by Sallyport Investments, with participation of Y Combinator, Real Ventures, Moment Ventures, and ZhenFund, and $15 million in Series A funding in 2020 led by Wing VC with participation from Greylock Partners and Sallyport Investments.
photo credit: Validere
Validere Raises $43MM to Scale Its All-in-One Commodity Management Platform
Series B investment led by BlackRock Funds and Mercuria Energy, with Wing VC, Greylock Partners, Pioneer Fund, NGIF and Nova Fleet
March 15, 2022 08:00 AM Eastern Daylight Time
HOUSTON & CALGARY, Alberta–(BUSINESS WIRE)–Validere, a leading all-in-one commodity management platform for the energy industry, today announced it has raised US$43 million (CA$55 million) in its Series B financing round. The round was led by Mercuria Energy and select funds and accounts managed by BlackRock, with participation from Nova Fleet, Pioneer Fund and Natural Gas Innovation Fund. Existing investors, including Wing VC and Greylock Partners, also participated in the round.
Validere’s platform monitors, validates and forecasts the critical data at the facility level to enable companies to improve their operations, and make better commercial and emissions decisions. Leading energy companies use Validere’s platform to reduce operational upsets, receive higher netbacks and gain visibility into commercial decisions, all while managing sustainability reporting and monetization of environmentally differentiated products. Validere is the only platform that integrates data and insights on ESG markets with traditional commodity markets, giving clients a holistic picture for their core business decisions.
“Validere’s mission is to ensure human prosperity through energy that is plentiful, sustainable and efficiently delivered. We facilitate this through integrating our customers’ core business with new environmental initiatives,” said Nouman Ahmad, Validere co-founder and CEO. “In order to manage the energy transition well, environmental attributes cannot be managed in a silo, they need to be integrated in the day-to-day operations and commercial decisions.”
Validere acts as the data layer for multiple environmental tracking initiatives, including a tokenization of voluntary carbon credits generated from a Carbon Capture, Utilization and Storage (CCUS) project that was transacted on blockchain, as well as the certification of operators that produce responsibly sourced natural gas (RSG) in partnership with leading third-party organizations such as Xpansiv, where RSG is verified to meet certain ESG standards such as methane emission intensity.
“Hydrocarbon producer and logistics companies are now focused on integrating ESG considerations into their commercial and operations decisions, but are realizing that the large amounts of data they will be required to capture, verify and analyze, coupled with evolving standards on which to evaluate, make it difficult to implement long-term solutions,” said Brian Falik, Mercuria’s Chief Investment Officer – Americas and new Validere board member. “Validere’s data collection processes and deep understanding of the credit and offset markets allow it to work with companies on a tailored basis to create everything from monetization programs for environmentally differentiated products to portfolio reporting tools for financial and sustainability reporting.”
Validere is the leading all-in-one commodity management platform for the energy industry. We help energy providers gain visibility, action their findings and predict future scenarios for their physical and environmental commodities. We are the only platform that integrates data and insights on ESG markets with traditional commodity markets, giving clients a holistic picture for their core business decisions. We believe the future of energy requires a modernized supply chain, so we’re reducing the barriers to actionable insights to make the energy landscape better for everyone. Through people and technology, we bring clarity to commercial and operational challenges, provide ways to act on the learnings and facilitate predictions for the future state.
Erin Farrell Talbot
Farrell Talbot Consulting