Cervest raised a $30 million Series A round led by Draper Esprit.

Cervest, a London, UK-based software developer of a Climate Intelligence (CI) platform, announced the completion of a $30 million capital funding round.

The money was raised from investors led by the UK-based VC Draper Esprit, joined by Astanor Ventures, Lowercarbon Capital (Chris Sacca), Future Positive Capital, UNTITLED, the venture fund of Magnus Rausing, and TIME Ventures, the venture fund of Marc Benioff. The funding includes a $8 million convertible note secured at the end of 2020.

Proceeds will be used to move aggressively into the U.S. and European markets

Cervest, founded in 2016 by CEO Iggy Bassi, developed an automated Climate Intelligence platform built through extensive, peer-reviewed research and combining public and private data sources (i.e. NOAA, ECMWF, CMIP6), machine learning, and cutting-edge statistical science to present a unified view of climate risk that's never before been possible.

EarthScan, the first product on the platform, gives users on-demand access to current, historical, and predictive views of how combined risks such as flooding, droughts, and extreme temperatures can impact the assets they own or manage. Insights are available across multiple risk categories simultaneously, going back 50 years and looking forward 80 years. EarthScan helps users to de-risk business decisions, meet TCFD financial disclosure guidelines, improve asset resilience, and uncover new opportunities to accelerate low-carbon growth.

Cervest previously raised $5.6 million.