OpenView Leads Series B Funding Round in Encamp, The End-to-End Compliance Platform
We’re pumped to announce our Series B investment in Encamp and welcome Luke, Sam, Dan, Ben, Gerritt, and the rest of the team to the OpenView family. Also, big shout-out to our friends and Encamp co-investors High Alpha and Allos Ventures—we’re excited to partner again to build another great Indy-based company.
Encamp makes environmental, health and safety (EHS) compliance simple, easy, and accurate—benefiting their customers, the environment, and all of us in the process.
As investors, the first thing that stood out to us about Encamp was the exceptional founder/market fit. Luke Jacobs, their CEO, is a reformed environmental consultant who witnessed firsthand the manual, repetitive process that currently goes into the mandated EHS reporting.
Alongside his co-founders Sam and Dan, Luke took a first-principles approach to solving the fundamental problem of EHS with modern software. They’re on a mission to create a world where good for business equals good for the environment. And they’re hiring across all departments.
The next thing that stood out to us: the market size and need. It’s big and it’s growing in importance. There are over 4.2 million facilities in the US that must comply with EHS regulations. Each state has their own reporting requirements, schedules, and systems—and reporting is often done at the local level on a monthly, quarterly, or annual basis depending on the regulation. That means 50 different systems to navigate and no standardization to ease the pain.
Maintaining compliance gets complex quickly and risk associated with noncompliance is growing due to shifting consumer expectations, the Biden Administration, growth of ESG investing, and buy-in from big corporates (you’ve probably seen Amazon’s sustainability commercials 😊).
Further, the incumbents were all founded 20+ years ago and are now owned by strategics or PE firms (read: prioritize EBITDA over innovation). These incumbents have become ERP-like, requiring lots of money and 9+ months to stand up. And even then, they rely on consulting services to complete the reporting work.
Enter Encamp: The first EHS platform built with the end user in mind that makes it easy to figure out what, where, when, and how to report—and then report on it. Think of Encamp as TurboTax for EHS compliance, enabling EHS professionals to easily file and pay environmental “taxes” for each facility in a fully digital, end-to-end manner.
So it’s no wonder why the final thing that got us excited is the customer love. People rave about Encamp and want to buy more from the company. People also rave about the connectedness they receive from partnering with Encamp. EHS professionals are passionate about what they do and want to work together to build a better world, yet lack a formal community to do so.
Encamp is creating this community, which will align stakeholder value between regulated industry, regulators, and the health of society—the Encampment.
Thank you Luke, Sam, Dan, Ben, Gerritt, and the Encamp team for the privilege to partner with you to modernize environmental compliance and EHS reporting. We look forward to building something great together and having a ton of fun along the way!