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AllocNow Secures Funding and Extends Management Team to Accelerate Further Growth

Berlin and Bonn, November 2023 - Global Leader in Cloud Software for the Automation of Lifecycle Assessments (LCA), AllocNow GmbH, Attracts Additional Investment and Complements Leadership Team to Drive Environmental Sustainability Mission Forward.

Strengthening Financial Backing to Fuel Continuous Growth

In addition to a recently secured public grant, AllocNow is delighted to announce the successful completion of a growth financing round. With this capital infusion, investors Dr. Hans-Rudolf Dicke and Sebastian Schulze have reaffirmed their commitment to AllocNow, propelling the company's ongoing progress.

Advancing Environmental Solutions and Accelerating Innovation

With the expansion of the AllocNow Product Sustainability Platform to full-scale LCA, the addition of Scope 3 data gathering capabilities, and the successful introduction of a Software-as-a-Service offering, AllocNow has shown a remarkable growth trajectory in recent months.

“The continued support and commitment of our valued industry partners and investors is a direct result of the high quality of work that our team consistently delivers. I am very proud of what we have achieved to date, and I am even more looking forward to what is to come. This capital infusion will further accelerate our innovation activities aligned to our mission of empowering chemical companies to understand, manage, and communicate the environmental impact of all their products.” says Daniel Bochnitschek, CEO of AllocNow.

Sustainable Practices for Industry Pioneers

Leading international chemical companies such as Covestro AG and Wacker Chemie AG, trust AllocNow to drive the transformation of their businesses toward a sustainable future, a testimony to the company's competence in handling large and integrated product portfolios with precision and insight. To date, AllocNow has automated LCA calculations for over 150,000 specific products in line with relevant ISO norms as well as the LCA methodology set out by Together for Sustainability. AllocNow's innovative approach to LCA software sets a new standard, providing unprecedented levels of consistency, reliability, efficiency, and accessibility, essential for industries to make informed and impactful decisions regarding sustainability.

Complementing Leadership Team to Drive Company Progress

As AllocNow embarks on the next phase of its expansion, Sebastian Schulze will join the management team as Manging Director (Geschäftsführer) alongside Daniel Bochnitschek. Bringing in vast experience in leadership roles of successful software companies, Sebastian will strengthen AllocNow’s go-to-market capabilities and further drive profitable growth. Prior to joining AllocNow, Sebastian was Founder and CEO of Fit Analytics, which had been acquired by Snap Inc in 2021.

Sebastian Schulze states: "I'm thrilled to become part of AllocNow, a company that is significantly contributing to global sustainability. Together, we will continue to innovate and provide essential solutions for chemical businesses seeking to substantially reduce their environmental footprint."

An Inspired Vision for Ecological Responsibility

With these developments, AllocNow is poised to lead the way in driving environmental sustainability in the chemical industry and beyond. Together with its investors and extended leadership, the company is set to make a substantial impact on the global transition to a more sustainable future.

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About AllocNow

AllocNow is a global leader in cloud software for automation of lifecycle assessments (LCA) in the chemical industry. Its Product Sustainability Platform empowers clients to understand, manage, and communicate the environmental impact of their products. AllocNow sets the standard for LCA software with its scalable approach, enabling consistent, reliable, efficient, and accessible solutions for a more sustainable future.


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