Scope 5 Secures Outside Funding for Energy and Sustainability Software Service

Seattle, WA-based sustainability management software provider, Scope 5 recently announced that the company has secured financing that will help to expand its Energy and Sustainability Software Service product line. The current round of funding happens to be the first outside funding round for the company.

In the recent past, Scope 5 achieved several milestones, indicating that the company was able to successfully address several hitherto unattended issues in the sustainability management market.

The milestones include releasing the first version of their sustainability management software service and signing two sustainability consulting firms as partners. In addition, the company was also able to land two representative customers with multi-year software service subscriptions.

“The endorsement of our early partners and customers signals that we are solving real and unaddressed pain in the sustainability management market. Our investors moved briskly so that we can focus more of our energy on meeting our next major sales and product milestones,” Yoram Bernet, co-founder and CEO of Scope 5 claimed in a press release.

Scope 5 is an easy-to-use alternative to the expensive software that organizations often find too complex, inflexible and costly. According to Scope 5, its web-hosted software service helps a wide range of private and public-sector organizations extract value from their environmental sustainability and energy data.

“There is an obvious market opportunity, but even more importantly, I was very impressed by how easy their service is to use. It reminds me of my first experience with salesforce.com. And the passion of this team is a strong predictor of their future success,” David Billstrom, an experienced venture capitalist and serial entrepreneur commented in a statement. Billstrom joined Scope 5’s board of directors in connection with the financing.

In related sustainability management news,  Enablon, one of the world's leading Sustainability Management software providers, recently announced the launch of Wizness, the “Wise Business” online platform that allows people and organizations to work together to solve sustainability business challenges.