Practically Green Announces $1MM in Funding

CAMBRIDGE, Mass., April 12, 2012 /PRNewswire/ -- Practically Green, whose business model revolves around the idea that sustainability can be fun as well as financially and ethically rewarding, announced today the close of a $1MM seed round of funding. The funding was led by CommonAngels, which is the largest and leading angel group in Boston focused on funding information technology start-ups. The new financing will be used to pursue continued growth in the company's core digital and mobile employee engagement line of business. Funders include Jeffrey Hollender, co-founder of Seventh Generation, the Clean Energy Venture Group and the clean-tech family office Pan Asia Solar.

Practically Green was founded in 2010 by Susan Hunt Stevens, a consumer internet veteran who aimed to solve the complexity of sustainable living with a simple, but trustworthy digital tool that inspired people to take action. Practically Green combines expert content with social and game mechanics to make embracing healthy green behavior easier, faster, and more fun. Users can complete actions, accrue points, track their progress, and instantly gain recognition for the positive steps they take. Sustainability leaders at a growing number of recognized organizations are licensing the company's configurable platform to power sustainability engagement programs for their employees and other key stakeholders.

"We have seen huge interest in our employee engagement program since we launched six months ago and we're excited by the opportunity this financing creates to expand our offerings in that area," says founder Stevens.  "I'm thrilled to continue our partnership with CommonAngels and to gain the network and experience of leading sustainability investors like the members of the Clean Energy Venture Group and Pan Asia Solar, along with our amazing roster of individual funders."

In addition to investing, Jeffrey Hollender, co-founder of Seventh Generation and Anton Szpitalak, president of Pan Asia Solar, have been named to the board of directors.

Author, speaker, consultant, and environmental activist, Hollender also serves as Co-Chair of the Greenpeace US Board, and on the boards of Health Care Without Harm and Verite. He also co-founded the American Sustainable Business Council.  "We need sustainability to go viral, to flourish in every organization and in every corner of this country and the world. If this sounds like a tall order, it is. But here's a fantastic solution, which is what attracted me initially to advising Practically Green," says Hollender. "After watching how amazing this team is and the success they are having, I was thrilled to join as an investor and board member. I've been looking for exactly this solution for a long time. It has the power to bring about real, large scale change where we sorely need it."

At Pan Asia Solar, Szpitalak partners with entrepreneurs and ventures to help them become leaders in their marketplace. "My partners and I invest in the most innovative clean-tech solutions we can find globally," says Szpitalak. "We see that Practically Green is driving demand for clean energy, healthier products and innovative, green solutions. The team is world-class and the product is ingenious: engaging, easy to use, and intrinsically positive. We look forward to a rewarding partnership and an outstanding future for Practically Green."

About Practically Green
Practically Green is the leading provider of digital sustainability engagement programs. The company helps organizations inspire stakeholders to embrace healthier and more sustainable behavior--at work, at home, and when out in the community. This effective approach combines proprietary and curated content with the power of social sharing and gamification to make sustainable choices simpler, faster, and way more fun. Like a LEED for daily life, the web and mobile applications motivate people by bringing visibility and recognition to this largely invisible process. They also empower sustainability leaders with tools that help ensure corporate priorities are being met. Based in Cambridge, MA, Practically Green was recently selected by Fortune Green as one of the Great Green Ideas of 2012.

SOURCE Practically Green