Climate Data Service Watershed Secures $100 Million Round
The emissions-tracking startup, led by three former Stripe employees, is growing as demand for corporate carbon disclosure intensifies.
Racks of servers at a data center. Climate analytics software is becoming more in demand as disclosure laws spread.
Photographer: Andrey Rudakov/BloombergWatershed Technology, Inc., a software startup that helps companies track and reduce their greenhouse gas pollution, has closed a $100 million Series C fundraising. That brings its valuation to $1.8 billion and reflects the growing pressure around carbon disclosure.
A wider embrace of carbon accounting has been “15 years in the making, and now it feels like it's arriving all at once,” said Taylor Francis, a co-founder, reflecting on conversations he had with executives from a diverse range of industries meeting in Davos last month for the World Economic Forum. “Climate business is becoming the business.”