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Patch funding, valuation and investors
API-first carbon removal marketplace embedding climate offsets into business workflows.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series B
$55M · September 2022
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$80M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series b · San Francisco, CA
Investors in latest funding
Lead: Energize Ventures
Other: Coatue , Andreessen Horowitz , B Capital Group
Overview
Patch is an API-first carbon removal marketplace letting businesses embed climate offsets into transactions and workflows. Jeff Jordan led a $4.5M a16z seed in February 2021; Coatue Management led a $20.75M Series A in September 2021 with a16z re-upping. Energize Ventures led a $55M Series B in September 2022 with Coatue, a16z, and B Capital Group participating — bringing total funding to $80M. Patch connects buyers to vetted carbon removal and avoidance projects programmatically via REST API.
Why Patch is interesting
Jeff Jordan led a16z's seed; Coatue led a $20M Series A in one week — then Energize led $55M Series B as Patch became the API layer for embedding credits at checkout.
Product & use cases
REST API and marketplace to purchase, retire, and report carbon credits at transaction time from a curated project catalog spanning removal and avoidance.
- Embedding offsets in checkout and shipping flows
- Portfolio-level carbon removal procurement for enterprises
- Automated climate reporting and credit retirement via API
Key facts
- a16z portfolio status: Active
- Seed (Feb 2021): $4.5M led by a16z / Jeff Jordan (TechCrunch)
- Series A (Sep 2021): $20.75M led by Coatue; a16z re-upped (Patch blog)
- Series B (Sep 2022): $55M led by Energize Ventures; $80M total raised (GlobeNewswire)
Funding history (newest first)
Series B
2022-09 $55M- Energize Ventures (lead)
- Coatue (participant)
- Andreessen Horowitz (participant)
- B Capital Group (participant)
Source: Read source · globenewswire.com
Series A
2021-09 $20.75MSource: Read source · patch.io
Investors in our directory
Funds linked from Patch's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Developer-first API versus consultant-led offset buying — fits product-led climate pledges and fintech embeds at transaction time.
Patch competes with Watershed on API embeds and with traditional brokers on supply curation. Carbon credit quality scrutiny applies industry-wide; Patch's bet is software infrastructure scales buyer access faster than manual procurement.
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Watershed direct
Enterprise climate platform bundling measurement plus offsets.
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South Pole incumbent
Traditional offset developer and broker; less API-native.
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Stripe Climate adjacent
Built-in checkout offsets; narrower catalog and use cases.
Notable stories
- Patch closed its $20M Series A with Coatue in roughly one week — after investors who passed on the seed round circled back — versus two months for the earlier $4.5M seed (Business Insider).
- Co-founders launched Patch in 2020 to democratize carbon removal access via API after the 2021 IPCC report underscored gigatonne-scale removal needs (Patch Series A blog).
Industries
Market / IPO context
Editorial / static context — not a live quote.
Related funding articles
Venture Capital Tracker pieces that cover Patch's financing or category context.
FAQs about Patch
Practical answers founders, operators, and investors typically search for.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.