Working Capital Fund leads $5M round to support Provenance to Tackle Greenwashing with Transparency Tech

Dan Viederman
March 24, 2022

To change global supply chains for the better, we urgently need greater transparency about consumer products’ social and environmental impact as they move from source to production and to the store for consumers to purchase.

Provenance addresses the lack of transparency in supply chains by creating a trusted way to communicate verified and evidenced claims about working conditions and other issues within a supply chain in an easily understandable format to the end consumer. It does so by using its unique transparency technology and a rigorous impact framework.

We met founder Jessi Baker when she was building out the initial concept of Provenance by demonstrating that mobile, blockchain technology and smart-tagging could track fish from origin to supermarket shelf, connecting verified sustainability claims along the way. At the time, Humanity United provided a grant to support Jessi’s initial efforts.

Since then, Provenance has expanded significantly. It is unique in its use of software to link verified and evidenced sustainability claims to products at scale, making it easy for brands and retailers to share that information with their customers. These claims follow the Provenance Framework, an open-source rulebook for communicating impact that incorporates standards from schemes, including the Ethical Trade Initiative, Global GAP, SA8000, the Better Cotton Initiative, and the Marine Stewardship Council (among others). Brands can share these proof-backed claims (or ‘Proof Points’) directly to their e-commerce website or within a Product Passport.

Provenance’s compelling value proposition comes full circle when retailers that integrate Provenance into their online and on-pack propositions see a significant increase in consumer engagement and conversion to sales. Provenance counts among its customers large and differentiated companies such as Cult BeautyPrince’s GroupAnchor, and Ganni. Provenance strengthens the relationship between manufacturers and buyers by building trust in claims.

We are delighted to lead this latest round of financing for Provenance, which has raised $5M for the company. Provenance has moved us closer to a future where consumers can vote with their wallets for products that match their values – avoiding greenwashing and ‘fairwashing’ with their decisions based on authentic, field-generated data.


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