Clear Standards Inc., a startup that helps enterprises track and manage energy usage and environmental impact, is expected to announce a $4 million first round of venture funding. Based in Washington, D.C., the year-old company had already raised a seed round from area investor Novak Biddle Venture Partners, which followed on in the new round alongside Kinetic Ventures of Chevy Chase, Md.
Although it focuses primarily on carbon footprint, Clear Standards says its software platform can be used to track all kinds of commodity usage and environmental impacts. The company expects to use its proceeds for staff growth, technology development and geographic expansion.
Several other companies in the enterprise carbon management sector have also attracted funding.
Carbonetworks Corp., which includes a carbon-credit marketplace and is geared for regulatory compliance, raised $5 million from NGEN Partners this summer.
Carbonflow Inc., a similar company,
closed a $3.9 million round this month. Also launched this month was Planet Metrics, which develops software to help companies measure and reduce their carbon footprints. Planet Metrics
raised a $2.3 million Series A led by Draper Fisher Jurvetson.
-- Paul Bonanos
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