Hara, a Redwood City, Calif.-based provider of on-demand environmental and energy management software, has raised $14 million in Series B funding. Jafco Ventures led the round, and was joined by Nth Power and return backer Kleiner Perkins Caufield & Byers. Hara had previously raised $6 million.
Hara, the fastest growing provider of on-demand environmental and energy management software, today announced it has secured $14 Million in Series B funding. JAFCO Ventures led the round, bringing deep experience and strong relationships in the Asian markets, with participation from Nth Power, focused on the growing sector of energy technology, and existing investor Kleiner Perkins Caufield & Byers (KPCB). The funding, which brings total investment to date in Hara to $20 Million, will allow Hara to accelerate its global go-to-market and product innovation strategies in response to growing market demand for its environmental and energy management solution.
“We have been very impressed with the team at Hara and the amount of success that they have demonstrated in a very short period of time,” said Tom Mawhinney, General Partner with JAFCO Ventures and new member of Hara’s board. “Our market research indicates that the Hara solution and core competencies are highly relevant in global markets, and we are confident we can help the company as it expands beyond North America and into the Asia markets.”
“Hara offers a unique solution that provides enterprises a holistic way of prioritizing and implementing energy and natural resource conservation strategies,” said Rodrigo Prudencio, Partner, Nth Power. “Having invested in leading energy technologies for more than ten years, Nth Power believes Hara stands ready to enable a new business process that will become standard in energy and resource intensive organizations around the world.”
In keeping with Hara’s commitment to rapid product innovation, this month also marks the latest and third release of Hara’s flagship on-demand solution, the Hara Environmental and Energy Management (EEM) Fall 2009 Release. The new release provides rich and comprehensive functionality for organizations to manage energy and natural resources as an integrated, end-to-end business process. The solution also helps organizations share and leverage best practices across stakeholders, and enables companies across the value chain to adhere to Walmart’s recently introduced supplier sustainability standards.
“Hara’s vision and solution footprint extends far beyond carbon accounting, enabling companies to holistically monitor and manage their natural resource consumption and environmental impact. The company has exceeded our expectations to date, with overwhelmingly positive response from customers and the broader market,” said Ted Schlein, Managing Partner, KPCB. “We firmly believe that Hara will continue to lead the pack in the environmental and energy management space.”
“Hara is seeing strong and accelerating market demand for environmental and energy management solutions, across industries and geographies,” said Amit Chatterjee, CEO and co-founder of Hara. “New investments from JAFCO and Nth Power, with continued support from KPCB, will enable Hara to continue to deliver customer value, maintain our rapid product innovation pace, and accelerate the global growth of our business.”
About Hara EEM
HaraTM Environmental and Energy Management (Hara EEM), a comprehensive software-as-a-service solution, enables organizations to holistically monitor and manage their natural resource consumption and environmental impact. Hara EEM enables organizations to identify and implement sustainable initiatives across organizational and value chain stakeholders. Fortune 500 companies such as The Coca-Cola Company and government organizations such as the City of Palo Alto are using Hara EEM to identify millions of dollars in savings from energy, water and waste abatement strategies while reducing their carbon emissions.
Hara helps organizations grow and profit while optimizing natural resource consumption and minimizing environmental impact. The Hara™ Environmental and Energy Management solution gives customers auditable transparency and control of their organizational metabolism – the collective resources consumed and expended by an organization – including energy, water, waste, carbon and other resources. Leading organizations use Hara solutions to manage their environmental record and leverage best practices in order to improve their operational efficiency, maximize shareholder value and manage risks. Hara was initially funded in 2008 by Kleiner Perkins Caufield & Byers. For more information, please visit http://www.hara.com/.
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 600 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm’s portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. For additional information, visit www.kpcb.com.
About JAFCO Ventures
Based in Palo Alto, California, JAFCO Ventures is a venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages more than $350 million in capital. The fund’s charter is to invest in venture opportunities with true breakout potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit www.jafco.com.
About Nth Power
Nth Power is a venture capital firm based in San Francisco and is the first venture capital firm funding promising startup companies in Cleantech industries. With $420 million under management and an investment record that begins in 1997, Nth Power is widely known and well regarded as the driving force behind many of the most successful Cleantech companies. The firm’s leading history in Cleantech-related venture capital is the result of a deep network of entrepreneurs, universities and research institutions and unmatched corporate relationships. For more information, visit www.nthpower.com.