Indy Tech Firm Lands $3M in Funding
(photo courtesy of Encamp)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAn Indianapolis-based tech company has closed on a $3.1 million Series A round of funding. Encamp says it will use the funding to further expand the development of its environmental, health, and safety software platform.
The funding round was led by Allos Ventures and High Alpha Capital in Indianapolis, with participation from IU Ventures. Allos Ventures Managing Director David Kerr and High Alpha Partner Mike Fitzgerald will join the Encamp Board of Directors as a result.
“The funding and expertise that our partners at Allos Ventures, High Alpha, and IU Ventures have provided will allow us to better serve our customers, who desperately need a tool like ours to help ensure that they’re compliant with government standards,” said Luke Jacobs, co-founder and chief executive officer of Encamp. “Encamp is on a mission to make EHS compliance fast, simple and accurate, and we know that our tool will help companies of all sizes achieve environmental goals.”
Encamp says its EHS platform helps businesses of all sizes manage their EHS 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.
“Encamp’s solution is well-timed to meet the needs of companies across the U.S. faced with the increasing complexity of environmental regulations and compliance. We believe the market will see a significant shift towards automating and streamlining compliance,” Kerr said in a news release. “Encamp is a powerful EHS solution and we are excited to collaborate with a passionate team of experts as they work to build a great company.”
The Series A round comes less than a year after Encamp raised $1 million in seed funding. Five months prior, the Indiana University Philanthropic Venture Fund invested $250,000 in the company.
Encamp launched in 2018 and currently has more than 170 customers. The company won the 2019 Startup of the Year award at the TechPoint Mira Awards.