Encamp, an award-winning enterprise technology startup for environmental compliance data management and reporting, today announced $30M in Series C funding from Drive Capital. Funding was led with full participation from previous investors, including OpenView, High Alpha Capital, Allos Ventures, and more. The investment follows a significant year of growth for Encamp, which saw a 500% increase in ARR in 2021.
Businesses continually find it cumbersome to maintain environmental compliance because of the growing complexities to collect, manage and analyze data across varying state guidelines. Given that the general minimum for regulatory non-compliance is $62,689 per day/per violation just for EPCRA alone, the threat of non-compliance can become expensive and have consequences for reputations too. The funding will enable Encamp to further develop its product and go-to-market functions to help enterprise companies digitally transform their environmental programs and successfully manage compliance efforts.