Climate Tech Startup Watershed Technology Raises $100 Million in Series C Funding

A climate tech startup called Watershed Technology has recently completed its Series C fundraising, securing an impressive $100 million. This significant boost in funding has led to a total valuation of $1.8 billion for the company. Watershed, founded by three former engineers from payment processing giant Stripe, aims to tackle the crucial issue of reducing planet-heating gas pollution generated by corporations.

Rather than relying solely on financial penalties or moral pressure, Watershed utilizes special software to assist businesses in tracking their emissions and identifying strategies to mitigate environmental harm. Notable companies on their client list include Walmart, BlackRock, General Mills, Stripe, the Carlyle Group, and Bain Capital.

Notably, the drive for corporate accountability regarding pollution has been growing steadily over the past decade and has recently gained significant momentum. Taylor Francis, one of Watershed’s co-founders, describes this as a development that has been “15 years in the making, and now it feels like it’s arriving all at once,” according to Bloomberg.

Introducing stricter laws has played a substantial role in encouraging companies to address their environmental impacts. In California, for example, recent legislation now mandates all businesses with over $1 billion in annual revenue to report their direct and indirect planet-warming pollution. This requirement is considered to be the most comprehensive of its kind nationwide, according to the Associated Press.

Moreover, the impact of these laws extends beyond California’s borders. The PROVE IT Act, recently passed by the Senate Committee on Environment and Public Works, will require the Department of Energy to track and disclose planet-heating pollution caused by various commercial products. Internationally, the European Union has adopted standards requiring large companies to regularly publish reports on their social and environmental impacts.

Watershed’s staggering valuation suggests that financial and legal consequences are powerful motivators for corporations to take action towards reducing their pollution. While companies may not sufficiently tackle the issue on their own, the combination of pressure, accountability, and innovative technology like Watershed’s software provides the impetus for change.

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Frequently Asked Questions:

1. What is Watershed Technology?
– Watershed Technology is a climate tech startup that aims to reduce planet-heating gas pollution generated by corporations. It provides special software to assist businesses in tracking their emissions and identifying strategies to mitigate environmental harm.

2. How much funding did Watershed recently secure?
– Watershed recently completed its Series C fundraising, securing an impressive $100 million.

3. What is the valuation of Watershed after the fundraising?
– The fundraising led to a total valuation of $1.8 billion for Watershed.

4. Who are some notable clients of Watershed?
– Notable companies on Watershed’s client list include Walmart, BlackRock, General Mills, Stripe, the Carlyle Group, and Bain Capital.

5. How has the drive for corporate accountability regarding pollution grown?
– The drive for corporate accountability regarding pollution has been growing steadily over the past decade and has recently gained significant momentum.

6. What are some recent legislative developments in encouraging companies to address their environmental impacts?
– One example is recent legislation in California that mandates all businesses with over $1 billion in annual revenue to report their direct and indirect planet-warming pollution. This requirement is considered the most comprehensive of its kind nationwide.

7. How does the PROVE IT Act impact planet-heating pollution?
– The PROVE IT Act, recently passed by the Senate Committee on Environment and Public Works, will require the Department of Energy to track and disclose planet-heating pollution caused by various commercial products.

8. What requirements has the European Union adopted for large companies?
– The European Union has adopted standards requiring large companies to regularly publish reports on their social and environmental impacts.

9. What motivates corporations to take action towards reducing pollution?
– Financial and legal consequences, combined with innovative technology like Watershed’s software, provide the impetus for corporations to take action towards reducing their pollution.

10. How can I stay informed about environmental initiatives and receive actionable tips?
– To stay up to date with the latest news on environmental initiatives and receive actionable tips, you can join Watershed’s newsletter.

Definitions:

– Climate tech startup: A startup company that focuses on developing and implementing technology solutions to address climate-related challenges and reduce environmental harm.
– Valuation: The estimated worth or value of a company, often determined through fundraising or investment rounds.
– Planet-heating gas pollution: Pollution caused by greenhouse gases that contribute to global warming and climate change.
– Emissions: The release of pollutants or gases, such as carbon dioxide, into the atmosphere.
– Mitigate: To reduce or alleviate the severity or impact of something, in this case, environmental harm.
– Corporate accountability: The responsibility of corporations to act ethically and take responsibility for their actions, including their environmental impacts.
– Legislation: Laws or regulations created by governmental bodies or authorities.
– Comprehensive: In this context, means extensive, thorough, and covering a wide range of aspects.
– Commercial products: Products or goods that are produced, marketed, and sold by businesses for profit.
– Social and environmental impacts: The effects or consequences that a company’s actions or operations have on society and the environment.
– Impetus: A driving force or motivation for change or action.
– Newsletter: A regularly distributed publication or email that provides updates, news, or information on a specific topic or organization.

Suggested Related Links:
Watershed official website
Bloomberg
Taylor & Francis
Associated Press
European Union
Department of Energy