INDIANAPOLIS--(BUSINESS WIRE)--Encamp, which offers a first of its kind software platform for environmental, health, and safety (EHS) compliance data management and reporting automation, today announced it has raised $12 million in Series B funding led by OpenView. The funding was supported with participation from Encamp investors High Alpha Capital, Allos Ventures, and IU Ventures. Encamp will use the new backing to drive ongoing development of the SaaS-based Encamp platform and add employees in engineering, compliance, sales, marketing, and other strategic areas.
For environmental compliance at facilities storing or using hazardous chemicals, the Encamp platform lets businesses verify applicable state and federal regulations automatically. To determine required compliance actions, EHS teams can sort activity by facility, regions, regulations, and state and federal requirements. In addition, EHS professionals are able to track compliance performance and reporting across the business by connecting tasks to facilities, compliance due dates, employees, and items such as compliance training schedules. Businesses get an up-to-the-minute view of their entire compliance reporting schedule using Encamp’s dashboard and wide-ranging compliance calendar.
With Encamp’s proprietary reporting automation software system, certified information is aggregated automatically in Encamp and submitted on time and in the correct format to all proper regulatory agencies. Along with increasing efficiency, such monitoring and automation is critical to reducing the risk of non-compliance and avoiding significant penalties.
For the EHS industry, Encamp is the first product to provide such end-to-end capability, particularly for regulations and reporting methods that vary considerably across all 50 states. The company’s new funding will allow it to continue making environmental compliance and reporting faster, easier, and more accurate.
“When we started Encamp, our goal was to become the premier system of record for environmental compliance and reporting, which we did,” said Luke Jacobs, one of Encamp’s co-founders and CEO. “That dynamic is shifting, however. Regulators and the EHS industry are now moving towards systems of intelligence for regulatory rules and data. Therefore, going forward, our aim is to become the new premier system of intelligence for environmental compliance. Encamp’s platform and product roadmap support this new direction, as does OpenView. We know they’ll be a strong and positive influence in helping us continue transforming how environmental compliance works.”
“We’ve been excited about Encamp since our first meeting with their fantastic founding team. Luke and the Encamp team are uniquely positioned to fundamentally change the world of environmental compliance, and we’re thrilled to partner again with High Alpha and Allos Ventures,” said Ricky Pelletier, Partner at OpenView.
OpenView's Expansion Platform partnered with Encamp to already place three new executive hires: Gerritt Graham as Chief Revenue Officer, Julianna Meidell as VP of Marketing, and Ki Moon as VP of Revenue Operations.
Encamp’s platform updates throughout 2021 are targeted at adding compliance reporting functionality, and are also expected to expand reporting to new regulatory program areas. The updates should enable Encamp to build on its current standing as the largest filer of Tier II hazardous material inventory reports in the United States.
“We’re recognized as trailblazers of environmental compliance for a reason,” said Jacobs. “Now with additional support from our investors and OpenView’s ongoing guidance, Encamp is ready to make compliance and reporting even simpler — and more intelligent — than we already have.”
Encamp was formed in 2017 and introduced its SaaS-based software to the environmental, health, and safety (EHS) industry in 2018. By early 2019, more than 100 companies were using Encamp to manage and automate the way they file critical environmental compliance information to state, local, and emergency response agencies. Nearly 200 businesses, including a growing number of businesses listed in the Fortune 1000 and Fortune 100, now use Encamp in more than 4,000 regulated facilities throughout the United States. In 2020 alone, Encamp realized revenue growth of more than 800%, a rise that continued to position the company as an emerging EHS market leader.
By way of innovation, Encamp is a first of its kind EHS compliance software product that combines a powerful data management system and EHS compliance reporting automation. With its Software as a Service (SaaS) architecture and deployment via the cloud, companies implement Encamp in a matter of days or weeks. Moreover, Encamp gives companies and their EHS teams a modern software option over point systems, spreadsheets, and legacy Environmental Management Information Systems (EMIS).
Among the industry awards Encamp has received for its innovation and leadership are the 2020 Top SaaS Newcomer and 2020 Best SaaS for Agriculture and Farming, Awarding & Consultancy International; 2020 Best in Biz Gold Award, Most Innovative Company of the Year (North America, SMB); 2020 Best in Biz Silver Award, Best New Product of the Year (North America, SMB); 2019 Startup of the Year, TechPoint; and 2019 New Product of the Year, Occupational Health & Safety. Encamp was also named one of the Best Places to Work in Indiana for 2021 by the Indiana Chamber of Commerce and the Best Companies Group. Encamp’s CEO and Co-founder, Luke Jacobs, was also named to the Environment + Energy Leader (E+E) 100 for 2020.
Founded in 2006, OpenView is a venture capital firm investing globally in business software companies. With a mission to improve people’s working lives, OpenView’s focused investment approach across sector and stage enables the firm to identify and partner with category leading business software companies. The firm’s focus extends to operational excellence through its dedicated expansion team working with portfolio companies on go-to-market, sales and marketing, product led growth, talent, and corporate development. The firm is based in Boston and has $1.5 billion in total capital under management. For more information, please visit https://openviewpartners.com/.
About High Alpha
High Alpha is a leading venture studio focused on building next-generation B2B SaaS companies through a new model for entrepreneurship that unites company building and venture capital. The High Alpha team partners with entrepreneurs, investors and large corporations to conceive, launch and scale new software companies. For more information: highalpha.com or on Twitter at @highalpha.
About Allos Ventures
Allos Ventures invests in early-stage technology companies based in the Midwest. Investments focus on B2B software companies at a Seed and Series A stage, augmenting the capital provided by seed and startup investors. In addition to the capital Allos provides, portfolio companies benefit from the extensive operating and business-building experience of the firm's managing partners, who make themselves available as needed to support each portfolio company's growth. For more information: allosventures.com.
About IU Ventures
IU Ventures is a Code Section 501(c)(3) organization dedicated to empowering Indiana University faculty, alumni, and friends to support and invest in IU-affiliated innovation. Through the IU Philanthropic Venture Fund and the IU Angel Network, IU Ventures works to provide opportunities for individuals affiliated with IU to network with fellow entrepreneurs; build innovative new businesses; and support growing enterprises through donations, investments, time and talents. To learn more, visit iuventures.com.