Companion Software

This brick is for companies that are ​offering software enabled through hardware. Think software for utilization optimization and BMS/grid management.

Critical Unlocks

1

Establish early MVP and technology advantage vs. peers

2

Prove scalable business to minimize costs as share of revenue

3

Target rapid growth with high ARR and low churn

Commercial
Product &
Offering
Technology
Value Chain
Execution
Relative level of challenge for founders
Low
High

Example Companies

how to read the brick

1

Brick

​One out of seven bricks, each with unique milestones

2

Critical Unlocks

Three most important aspects throughout the scaling journey for climate tech companies to secure financing and support scale

3

Funding Rounds

Milestones reached before securing financing in each funding round, e.g., milestones in column “Series A” typically reached before securing financing in Series A round

4

Capital Stacks

Typical distribution of capital (equity, debt, grants, and project financing) raised in each funding round

5

Dimensions

Dimensions which different milestones are mapped to, covering the most important themes for fundraising and scaling

6

Milestones

Typical milestones to have in place ahead of each funding round to secure financing and support scale

What are the key takeaways to consider?

For Founders

Establish early MVP technology feasibility and technology advantage vs. peers

Prove scalable business to minimize costs as share of revenue

Target rapid growth, with fast ARR growth, low churn and growing ACV

For investors

Prioritize investments based on proven added customer value, speedy customer acquisition, and early growth focus through ambitious expansion

Support founders across funding stages by, for example, assisting with market positioning to unlock adjacent markets, differentiation strategies to outcompete competition, or industry experience/networks to unlock rapid scaling

Set and track milestones for portfolio companies

For The Wider Ecosystem

Geographical expansion is key – drive common policies in Europe to secure level playing field

How many companies did we analyze for this data?

Seed
9
Series A
20
Series B
7
Series C
7
Series D+
2
Total
45

We reviewed more than 4.000 companies to ensure the bricks reflect successful scaling journeys

Discover our process

Relevant Stories

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