Total amount raised
$239 Millions
Latest funding date
Location
Title
Watershed has successfully raised significant funding through multiple rounds, including a Series C, to support its mission of helping companies address their carbon emissions. The platform offers comprehensive tools for measuring, reporting, and reducing sustainability data, making it a key player in the enterprise climate space.
Keep reading to explore the intricacies of Watershed's fundraising journey and the investors backing this innovative platform.
What Is Watershed?
Founded in 2019, Watershed is an enterprise climate platform based in San Francisco, California. The company was established by Avi Itskovich, Christian Anderson, and Taylor Francis.
Watershed helps businesses measure, report, and reduce their carbon emissions through comprehensive tools and data-driven insights. The platform supports end-to-end climate programs, including carbon accounting and sustainability disclosures.
With a team of 251-500 employees, Watershed is dedicated to driving sustainability in the corporate world, making it a key player in the fight against climate change.
How Much Funding Has Watershed Raised?
- Series A
- Amount Raised: $14M
- Date: February 2021
- Lead Investors: Kleiner Perkins, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of their platform, focusing on carbon accounting and sustainability disclosures.
- Series B
- Amount Raised: $70M
- Date: February 2022
- Lead Investors: Kleiner Perkins, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale operations to meet growing demand.
- Series B
- Amount Raised: $55M
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance their platform and support international expansion.
- Series C
- Amount Raised: $100M
- Date: February 2024
- Lead Investors: Greenoaks
- Valuation at Round: $1.8B
- Motivation Behind the Round: To propel corporate climate efforts forward, enhance product offerings, and expand into Europe.
Total Amount Raised: $239M. Current Valuation: $1.8B.
Key Investors
- Greenoaks
- Details: Greenoaks is a prominent investment firm known for its focus on long-term growth and innovation. They have a strong presence in the technology sector.
- Investment Focus Areas: Technology, internet, software companies.
- Notable Investments: Not publicly disclosed.
- Kleiner Perkins
- Details: Kleiner Perkins is a well-known venture capital firm that has been investing in technology and life sciences for decades. They are recognized for their early investments in companies that have become industry leaders.
- Investment Focus Areas: Technology, life sciences, sustainability.
- Notable Investments: Google, Amazon, Genentech.
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm with a history of investing in some of the most successful technology companies. They focus on seed, early, and growth-stage investments.
- Investment Focus Areas: Technology, healthcare, consumer services, climate tech, sustainability.
- Notable Investments: Apple, Google, Oracle, LinkedIn.
- Elad Gil
- Details: Elad Gil is an individual investor known for his strategic investments in high-growth technology startups. He has a background in both entrepreneurship and venture capital.
- Investment Focus Areas: Technology startups, innovation, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Emerson Collective
- Details: Emerson Collective is an organization focused on social change, founded by Laurene Powell Jobs. They invest in initiatives that drive social progress and sustainability.
- Investment Focus Areas: Education, immigration reform, social justice, environmental conservation.
- Notable Investments: Not publicly disclosed.
What's Next for Watershed?
Watershed stands at the cusp of significant growth opportunities, driven by the increasing demand for corporate climate accountability. With the recent $100 million Series C funding, the company is poised to expand its innovative solutions, particularly in Europe, where the EU’s Corporate Sustainability Reporting Directive mandates extensive climate impact disclosures. This regulatory push opens a vast market, potentially involving nearly 12,000 companies.
Future fundraising efforts are likely to focus on scaling operations and enhancing product offerings to meet the evolving needs of global corporations. However, Watershed will need to navigate complex regulatory environments and maintain the scalability and precision of its tools to stay competitive. The rapidly evolving climate tech industry presents both opportunities and challenges, requiring continuous innovation and strategic partnerships.
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