Pender Ventures has led a Series A investment in veritree, a company transforming reforestation through its innovative software solutions, aimed at enhancing transparency and effectiveness in climate efforts.

Introducing veritree

veritree is a pioneering company that has emerged from tentree, a sustainable apparel brand famously known for its commitment to planting ten trees for every product sold. As tentree expanded, it encountered the challenges of maintaining reliable and transparent systems for monitoring reforestation efforts. This experience gave rise to veritree, which began as an initiative to enhance tree planting operations and mitigate brand risk. In 2020, veritree was established as an independent entity, now supporting over 300 companies in their reforestation investments with a strong emphasis on tracking, verification, and measurable impact.

Industry Overview

The corporate reforestation sector is rapidly gaining traction in climate investment, as it allows companies to resonate with consumer values intuitively. By aligning their climate initiatives with product offerings and marketing strategies, businesses can foster greater consumer engagement. Furthermore, the ecological benefits derived from tree planting—such as improved biodiversity and enhanced livelihoods—have led to substantial backing from governments and non-governmental organizations (NGOs).

Despite its growth, the industry faces significant challenges, notably concerning the effectiveness of various tree-planting campaigns. Many initiatives lack rigorous oversight and suffer from insuf