Clear Standards, Inc., a developer of software that allows businesses to track their environmental impact, has secured $4 million in Series A financing from Novak Biddle Venture Partners and Kinetic Ventures.
The company was established in 2007 with seed funding from Novak Biddle, and is managed by former executives from Oracle Corporation, Siebel Systems, and the U.S. Environmental Protection Agency.
Clear Standards said the funding will allow it to serve growing market demand by expanding its team, increasing investment in its technology platform, and deepening its reach in regions where climate change issues have resulted in increased regulation.
Clear Standards said that, unlike niche carbon management solutions, its software platform can track any type of commodity usage or environmental impact, from energy use and greenhouse gas emissions, to water consumption and waste recycling.
The platform helps organizations focus on increasing energy efficiency across their direct and supply-chain operations, and can be customized for specific business processes or vertical industries.
"The current pressure on corporations to reduce expenses while also improving their environmental performance provides significant opportunity for us," said Anirban Chakrabarti, Clear Standards co-founder and CEO. "Clear Standards is focused on helping organizations implement strategies that result in increased profits and competitiveness in the emerging carbon-constrained economy."
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