Clear Standards Inc., a Sterling, Va.-based provider of enterprise carbon management and sustainability solutions, has raised $4 million in Series A funding. Backers include Novak Biddle Venture Partners and Kinetic Ventures.
Clear Standards, Inc., (www.clearstandards.com) a leading provider of enterprise carbon management and sustainability solutions, today announced it 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.
By developing a comprehensive inventory of greenhouse gas emissions and other environmental impacts, Clear Standards enables businesses to identify opportunities for cost savings from energy and waste reduction. The funding allows Clear Standards to serve growing market demand by expanding its team, increasing investment in its leading technology platform, and deepening its reach in regions where climate change issues have resulted in increased regulation.
Unlike niche carbon management solutions, the Clear Standards 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. As sustainability and carbon management initiatives become more strategic within diverse functions such as marketing, logistics, manufacturing, and finance, Clear Standards provides the technology infrastructure to help these stakeholders manage their operations in alignment with overall corporate sustainability goals.
“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. Having Novak Biddle’s and Kinetic’s resources behind us will add tremendous value as we enter this next phase of our growth cycle.”
“Clear Standards is generating momentum as customers are already using the solution to manage their carbon footprint and help them make necessary adjustments that positively impact the environment and their operating costs,” said Jake Tarr, managing director, Kinetic Ventures.
“The recent addition of Jim Sullivan, former director of the U.S. EPA Climate Leaders program, to the Clear Standards executive team underscores the company’s value to customers who are interested in managing their carbon and sustainability initiatives as part of an overall corporate growth strategy,” added Phil Bronner, general partner, Novak Biddle Venture Partners.
About Clear Standards
Clear Standards provides enterprise solutions to help global organizations accurately measure, mitigate, and monetize carbon emissions and other environmental impacts. Clear Standards enables businesses to identify opportunities for cost savings from energy and waste reduction, and evaluate investments in energy efficiency technologies. By following Clear Standards’ embedded best practices, corporations can prepare for regulatory changes, reduce operational costs, and reinforce positive brand image by providing transparency into sustainability initiatives.