Understory

Private

AarhusEnergy & Sustainabilityhttps://understory.io/

Last Round

Series A

Sep 8, 2025

Total Funding Raised

$18.6M

Company Overview

Understory is a business software company that provides an all-in-one experience management platform for tour operators, class instructors, and activity providers to manage bookings, payments, and marketing.

Sector

Energy & Sustainability

Verticals

ESG Analytics, Compliance & Risk, Data Governance, Vertical SaaS

Business Model

B2B

Customer Profile

Usage-Based SaaS, Subscription SaaS

AI Layer

Application

Keywords

ESG managementESG reportingsustainability softwareESGvertical SaaSsustainability reportingESG complianceESG databooking softwareexperience managementESG techcompliance softwareusage-based billingdata governanceESG platform

Historical Pricing

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Understory Comps

Public and private peers based on sector, stage, and business model.

Understory comps — public and private peers by sector, stage, and business model
Company	Status	Est. Valuation	Rev Multiple
OpenAI	Private	$86.0B	~40x
Cohere	Private	$5.0B	--
Competitor 1	Public	$XX.XB	XXx
Competitor 2	Public	$XX.XB	XXx

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Understory Funding Rounds

Historical fundraising activity

Data table
Round	Date	Amount Raised	Valuation	Investors	Sources
Series A	Sep 8, 2025
Seed	Feb 9, 2024
Pre Seed	Feb 3, 2023

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Understory Investors

Notable investors and investment history

Understory investors
Investor	Rounds
People Ventures	Series A
sequel	Series A
Firstminute Capital	Series A, Seed
Founderment	Pre Seed
Smedvig Ventures	Series A
SEED Capital	Series A, Seed

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Market signals

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Feb 9, 2024
$4M round led by Firstminute Capital and SEED Capital.

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Understory Filings

SEC and related filings with document metadata.

Data table
Typed	Date	Amount Offered	Amount Sold	Filling	Pages	Download
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Understory Filings

SEC and related filings with document metadata.

Frequently Asked Questions

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Firmographic Details

HeadquartersAarhus

Employee Range1

Year Founded2023

Last FundingSep 8, 2025

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