England-based sustainable marketing tech provider, Provenance, has raised $5 million in funding to combat greenwashing with its transparency technology.
The funding will be used to improve the company's software solution as well as expand its brand and shopper reach. It also plans to expand its workforce to over 50 employees by 2022, investing in product and engineering skills, as well as sales, marketing, and partnerships.
Provenance’s Proof Point technology aims to empower online buyers to make purchases that are good for people and the environment. Proof Points on e-commerce pages are digital sustainability statements that allow customers to click through to relevant evidence or independent verification.
Provenance collaborates with organizations such as B Corp, Soil Association, Leaping Bunny, and GOTS to enable brands to provide proof online. It has 81 verifiers and over 20 certifying bodies.
The company now works with over 150 brands and retailers across fashion and beauty in 18 regions across Europe, North America, and Asia Pacific, including Cult Beauty, Douglas, Ganni, and Unilever.
Jessi Baker, Founder and CEO of Provenance, said that Provenance is combating greenwash with transparency technology and helping brands capture commercial value from their good social and environmental impact. They're already seeing results, and they're excited to grow their community. This money will allow them to expand their world-class team and product, allowing them to move closer to their goal of empowering one billion people to choose items that are good for them.
A report that is issued every week covers price statistics and objective analysis of the market trends on various textile value chains
A crisp report that is issued every month covers analysis of the price and market trends on various textile value chains
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide