Overview
Patch is a dynamic platform dedicated to scaling unified climate action, aimed at enabling and facilitating the efficient purchase and management of high-integrity carbon credits. Through its comprehensive marketplace, Patch empowers companies to achieve their climate goals by integrating carbon removal and offset strategies into their broader sustainability agendas. In addition to its climate mission, Patch is involved in the digital health industry, focusing on innovative solutions for physical therapists. Based in Nashville, TN, USA, the company emphasizes healthcare operations innovation alongside its environmental initiatives.
Key Offerings
Climate Action Platform
Patch provides a robust technology platform that simplifies the purchase and management of carbon credits. Key elements include:
- High-Integrity Carbon Credits: Ensuring access to projects with the highest integrity standards.
- End-to-End Process: Streamlining carbon credit purchases and risk management.
- Access to Expertise: Offering expert guidance to manage and maximize carbon portfolios.
Digital Health Solutions
Patch also operates within the digital health sector, providing specialized services for physical therapists. The company focuses on streamlining healthcare operations through innovative digital solutions.
Leadership
Patch's strategic direction is guided by a skilled leadership team responsible for driving both the climate and digital health initiatives:
- Brennan Spellacy, Co-founder & CEO: Guides the mission to scale solutions for carbon emissions reduction.
- Aaron Grunfeld, Co-founder: Plays a key role in growth and partnership strategies.
- Jenny Roy, VP Marketing: Manages brand visibility and marketing strategies.
Funding and Growth
Patch's mission is supported by significant financial backing:
- Series B Funding: $55 million raised in 2022 to enhance capabilities in the voluntary carbon market.
- Total Funding: $81.5 million secured, reflecting strong investor confidence.
Notable Collaborations and Recognition
- Event Participation: Engaged in global discussions at COP27 to provide insights into corporate net-zero policies.
- Project Partnerships: Facilitated access to over 200 million tonnes of carbon credits with a network of climate projects.
Commitment to Climate Action
Patch works with over 500 companies worldwide, collaborating with 275+ climate projects to improve carbon removal efforts using innovative solutions such as:
- Biochar
- Enhanced Weathering
- Direct Air Capture
Financial Overview
- Annual Revenue: Estimated at $490,000.
- Revenue per Employee: Approximately $70,000.
- Employees: 7 individuals.
Competitor Profiling
Competitor Analysis
Patch operates alongside several formidable competitors in the digital health space:
1. EvidenceCare: An EHR-integrated clinical decision support platform, recognized in the Inc. 5000 Fastest Growing Companies in 2022, with $5.3M in annual revenue and 47 employees.
2. Thirty Madison: Known for its virtual-first approach in healthcare, aimed at chronic condition management with $80.9M in annual revenue and funding of $209.8M.
3. AdhereHealth: Offers technology solutions for medication adherence, focusing on health plans and self-insured employers.
4. InVivoLink: Provides a clinical integration platform for orthopedics and spinal procedures, enhancing care delivery efficiency.
Competitive Strategy
To maintain its competitive edge, Patch must continue focusing on niche digital health solutions while potentially exploring alliances or technological advancements. Competing with larger, well-resourced entities like EvidenceCare and Thirty Madison, Patch might consider innovative partnerships and enhancing proprietary technologies to sustain its relevance and attract targeted healthcare audiences effectively.
