Environmental compliance data management provider Encamp announced a $30 million Series C funding round from Drive Capital.
Funding was led with full participation from previous investors, including OpenView, High Alpha Capital and Allos Ventures, and follows a year of rapid growth for the company, which increased revenue by 500 percent in 2021, Encamp said in a news release.
“We’re seeing an increase in the number of consumers holding organizations accountable for their actions, especially as it relates to environmental responsibility. Members of executive leadership are seeking tools to help prioritize environmental compliance as a result,” Luke Jacobs, Encamp’s CEO and co-founder, said in the release. “Our partnership with Drive Capital enhances our product to continue Encamp’s mission of helping organizations with their compliance and reporting efforts and will fuel our growth into 2023 and beyond.”
With their latest round of funding, leaders at Encamp say they plan to further develop the platform’s capabilities on a global scale by:
- Enhancing existing product features to streamline data collection and analysis across environmental media, data sources and regulatory applicability.
- Developing compliance reporting technology for toxic release inventory (TRI) reporting, the Clean Water Act and Clean Air Act over the next two years.
- Expanding hazardous material and waste compliance automation capabilities internationally by 2024.