$12M Investment Round Helps Encamp Expand
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowEarlier this year, Indianapolis-based tech company Encamp raised $12 million in a Series B round, which company founder and Chief Executive Officer Luke Jacobs says is fueling additional growth.
Encamp’s software platform helps businesses manage their environmental, health and safety compliance records.
Jacobs says revenue grew 800% in 2020 and so far this year, it is up 400%.
“If you think about the numbers, it gets harder to continue growing faster, the bigger you get,” said Jacobs in an interview on Inside INdiana Business with Gerry Dick. “So that growth has really continued. And we’re projected to end the year at over 500%.”
Encamp says its EHS platform helps businesses of all sizes manage their documents, deadlines, permits and tasks. The company says it is working to further develop the platform to provide a more comprehensive look at applicable regulations and requirements for EHS reporting among businesses.
“As I’m looking to 2022-2023, for us, it’s expanding our customer base, continuing to move up market and serving these really large enterprises to help them manage their environmental compliance,” Jacobs said. “It’s really building out additional reporting capabilities from our system.”
The company now has more than 60 full time employees and Jacobs expects the staffing growth to continue. He credits much of the business growth to the people that work for him. While most have tech backgrounds, many also bring environmental and safety expertise to the table.
“We bring the next generation of technology to this space. But then we do layer that in with just an elite team of environmental specialists who work really closely and carefully with our customers to ensure that not only is the software doing what they need it to do, but that they’re supported along the way,” said Jacobs.
He says Encamp has strong customer retention because of the customer support.