Scope3, a sustainability platform for the media and advertising sectors, has scooped up $25 million in its latest funding round, with plans to expand the media and advertising sustainability platform's work into the AI industry.

The funding round was led by GV, with participation from existing investors Venrock, Room40 Ventures, and Craft Ventures, as well as new investors Aperiam Ventures and Virgo Strategic Investments.

Since its inception in 2021, Scope3 has been providing tools to the media and advertising industries to analyse and reduce carbon emissions. High-profile brands such as Coca-Cola, General Motors, Mastercard, and Sanofi have utilised Scope3's services. The company claims that nearly 3,000 metric tons of carbon emissions have been avoided using Scope3's Green Media Products in the last 18 months.

"AI and the media industry are soon going to be indistinguishable. The biggest AI players are monetising through advertising, just like the search giants before them, and every marketer is using AI to create the content that fuels their campaigns. That's why extending our methodology to capture the climate impact of AI is imperative, both for our business and the industry as a whole," said Co-Founder and CEO of Scope3, Brian O'Kelley.

The company's usage revenue has grown 12x YoY (Q2 '23 – Q2 '24). Scope3 is also releasing its open-source AI methodology to the public. This methodology measures the environmental impacts of the entire life cycle of an AI product, process or service.

General Partner at GV, Erik Nordlander, said: "The most innovative companies in the world are considering sustainable AI practices that address environmental concerns while delivering real business value. Scope3 has the talent, technology, and expertise needed to decarbonise the media and advertising industry. We've seen the impact Brian O'Kelley and the Scope3 team have had on the advertising and marketing supply chain, and we're excited to double down on our investment based on the traction we've seen. We're proud to deepen our partnership with Brian and support Scope3's mission as we move toward a more sustainable future."