Climate Metrics FinTech Watershed Announces $100 Million Round Climate Metrics FinTech Watershed Announces $100 Million Round
Watershed logo

Climate Metrics FinTech Watershed Announces $100 Million Round

A climate-focused FinTech has just closed the latest “megaround.”

About the round:

Watershed has announced a $100 million round that values the company at $1.8 billion. The Series C was led by Greenoak while Kleiner Perkins, Sequoia Capital, Elad Gil, Emerson Collective, Galvanize Climate Solutions, and Neo also participated. To date, the company has now raised a total of $239 million in funding including a Series B in 2022. With the injection of funds, Watershed says it plans to redouble its investment in the European market and continue to power its climate programs.

About Watershed:

Described as an enterprise sustainability platform, Watershed offers tools to help businesses calculate and track their climate impact. It also enables them to find ways to lower their emissions. Currently, the platform partners with the likes of General Mills, Spotify, Paramount, Airbnb and many others. What’s more, the company notes that four of the top six U.S. banks as well six of the top 10 private equity firms are also among their clients.

According to Watershed, at the time of their Series B in 2022, their customers managed an estimated 20 million tonnes of CO2 equivalent emissions. Today, that number has increased to 479 million tonnes. Thus, by helping their partners reduce those emissions, the company hopes to make a global difference.

What they’re saying:

Speaking to what Watershed does, co-founder Taylor Francis stated, “Corporate climate action is accelerating. Companies of all sizes and sectors are making sustainability a board-level priority, and we are supporting them as they work to measure, report, and reduce their emissions.” Francis added, “This new investment will bolster our mission to accelerate the climate economy.”

As for why Greenoaks decided to invest in Watershed, the firm’s managing partner Neil Mehta said, “Carbon measurement and climate disclosures are shifting quickly from optional to mandatory. We believe Watershed has emerged as the clear market leader, with a sophisticated data engine that is already best-in-class and gets even better with scale. That is why they have become the first choice for the world’s largest and most complex enterprises, who trust Watershed to measure rigorously, report accurately, and act decisively.”

My thoughts:

Although Watershed is considered a FinTech, it’s certainly found a unique space in the sector. In contrast to climate-friendly neobanks and other consumer-facing solutions, Watershed has clearly found success working directly with major brands. Obviously, their impressive investment also shows that’s an attractive proposal. Luckily, in this case, good news for Watershed likely means good news for all of us as the company continues to try to reduce emissions and help save our environment.

Author

Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Money@30's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

Other Articles by Kyle Burbank

Reddit logo

Reddit Announces Plans to Allow Redditors to Buy Its IPO Stock

Reddit has revealed more details about its planned initial public offering (IPO), including offering shares to users. About the IPO details: In an S-1 filing with the Securities and Exchange Commission (SEC), Reddit laid out some details about its IPO plans. As part of this, the site notes that it intends to allow Redditors (a nickname for users) to purchase shares at IPO prices. Specifically, the company says it intends...
Dub logo

"Copy-Trading" Platform Dub Raises $17 Million

A FinTech brokerage platform that makes it easy to share and follow portfolio strategies has closed a new round of funding. About the round: Dub has announced that it's raised $17 million — including $15 in equity deals and a $2 million debt facility. The seed round was led by Tusk Ventures with several other venture firms as well as individuals participating. This list includes Uber CEO Dara Khosrowshahi, Apex...
snowed in house

Lessons From a First-Time Home Buyer: Surviving Our First Winter

One major difference between Springfield, Missouri and my previous city of residence (Glendale, California) is that, here, we have these things called "seasons." Furthermore, unlike a California winter where you might have to put on a sweater when it dips into the 40s, we do see snow, ice, and occasional sub-zero temperatures here in the Midwest. In turn, when we bought our home in whirlwind fashion, I knew we'd immediately...
The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...