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Footprint Raises $25 Million Series B to Scale Percy, the AI Operating System for Risk & Compliance. The funding will expand engineering and sales teams and support West Coast growth.
Footprint has raised $25 million in Series B funding led by QED Investors, with contributions from MUFG, Commerce Ventures, LightBank, and others. This new capital will double the engineering and sales teams while facilitating the opening of a new San Francisco office. The funding will also enhance Percy, their AI system for financial compliance. CEO Eli Wachs emphasizes the importance of AI in adapting risk operations for future challenges.
Company Information
Company
Footprint
Location
250 E. GERMANN ROAD
Gilbert, South Carolina, United States
About
Footprint is a global materials science and technology company with a clear vision to create a healthier planet and healthier people. Our mission is to provide solutions to eliminate single-use plastics in our food chain. Footprint’s engineers use plant-based fiber technology to design, develop, and manufacture bio-based products. Footprint is rapidly expanding into new categories with customized and patented solutions for customers. While working with leading global consumer brands, Footprint’s products have already led to a worldwide redirection of millions of pounds of plastic waste from entering the environment.
Footprint was founded in 2014 and employs about 2,000 employees with operations in the U.S., Mexico, Europe, and Asia. Footprint was named to Fast Company’s “Brands that Matter” list in 2022, CNBC’s
“Disruptor 50” list in 2021, and Fortune’s “Change the World” list in 2020.
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GilbertManufacturingRenewable Energy