“Provenance is fighting greenwash with transparency tech, and helping brands unlock commercial value from their positive social and environmental impact. We’re already driving results for small independent brands and global brand groups alike, and we can’t wait to expand our community. This funding will help us grow our first-class team and product and accelerate our goal to empower 1 billion citizens to choose products that match their values.” At a time when more and more of us are making sustainability-based choices when purchasing, there’s also a growing problem of greenwashing (the term given to the process of providing a false impression or misleading information about the environmental impact of products/services). Provenance wants to tackle this, enabling consumers to make positive purchases for people and the planet, by surfacing trustworthy, proof-backed sustainability claims at the point of sale through its pioneering Proof Point tech. Proof Points are digital sustainability claims that sit in e-commerce pages and enable shoppers to click through to view relevant evidence or independent verification. At the same time, the London-based startup enables brands and retailers that are making a positive social and environmental impact to grow market share by increasing shopper engagement, conversion and trust. It’s claimed that this transparency tech solution is already driving a 27% increase in conversion and a 2.8x increase in engagement at the point of sale. Founded in 2014, Provenance has tripled its customer base in the last 12 months and is now empowering 150+ leading brands and retailers across the food & drink, beauty and fashion industries, including Cult Beauty, Douglas, GANNI, Napolina, Arla and Unilever. Provenance is currently live in 18 markets across Europe, North America and Asia Pacific.
$ 5 Millions - $ 10 Millions
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