Sustashift has raised a funding round led by Greencode in 2024 to fuel the rapid growth of its CSRD reporting tool
Sustashift announces a funding round led by Greencode Ventures with participation from Wave ventures. Sustashift’s mission is to provide the best and most efficient software solution and advisory services for CSRD reporting. The software is unique by automatically doing digital tagging in 5 seconds instead of 500 hours. The funding round provides capital to accelerate the scaling of the tool, truly built by professionals to professionals, to automate CSDR reporting and to provide solutions to pain points associated to CSDR reporting.
“Sustashift was born to solve the issues faced by European companies in CSRD-reporting in an automated and cost-efficient way – also for smaller, non-listed companies. In my previous role as corporate lawyer, I saw a growing need for advisory and software solutions to help in sustainability compliance. Not many lawyers become entrepreneurs, but this jump to the unknown has been great. The positive feedback from clients drives us to succeed and gives our work a purpose!”, Verneri Laakkonen, CEO of Sustashift.
“CSRD reporting is a big and rapidly growing market with strong tailwinds. Sustashift has been able to capitalize exceptionally strong traction in the market, closing to a million in sales in 2024. CSRD poses heavy regulatory burden to corporates. Having a tech solution for reporting, and automating time-consuming tasks such as tagging, enables corporates to focus their own valuable time to actions and improvements on sustainability – not just reporting. As company foundations are built by lawyers, customers can rely on the CRSD solution to truly meet the complex regulatory requirements. These are the reasons why we believe Sustashift has a unique position in the market”, Terhi Vapola, Managing Partner of Greencode Ventures.
Additional information:
Verneri Laakkonen, CEO
verneri.laakkonen@sustashfit.com
Tommi Kuusio, COO
tommi.kuusio@sustashift.com
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Sustashift
Sustashift automates CSRD for all companies. Our software solutions with automated XBRL tagging and automatically tailored reporting templates makes it easy to create a CSRD compliant sustainability report in a streamlined and cost-effective manner. Sustashift customer base includes some of the largest listed and non-listed companies and is the official sustainability advisor to the automotive, chemical and retail industries of Finland.
Greencode Ventures
Greencode Ventures is a pan-European VC firm specialising in green transition with rapidly scaling digital solutions that create impact within this decade. Greencode focuses on Seed to Series A investments, supporting solutions that reduce emissions, save resources, and increase efficiency by using advanced technologies such as AI. These investments drive green transition across energy, mobility, industries, and the built environment. The team of this expert fund brings a proven track record of investing in and operating companies with deep expertise in energy, transport, sustainability, and digital ecosystems.
