energy and environmental metrics, including greenhouse gases.
Start-up Hara said today it has
secured $25 million from venture and corporate investors to further develop its
software for managing corporations’ energy and environmental footprint.
Software industry veteran Ray Lane, who is an investor at Kleiner, Perkins,
Caufield & Byers, will become chairman of Hara’s board. Other investors
included General Electric, ConocoPhilips, utility NRG Energy, and Japanese
industrial company Itochu. Including this series C round, Hara has raised $45
The investment gives Hara the wherewithal to further enhance its online
application and sales force in the fledgling field of energy and environmental
management software. Hara said it has about 50 customers which use its software
to track and reduce energy use and other resources, such as water and waste.
“Effective energy and environmental management is now a business imperative
that requires full accountability from companies and their stakeholders across
industries,” said Lane, who was president of Oracle before becoming a venture
investor, in a statement.
Because businesses can spend a lot of money on energy, making a 10 percent or
20 percent reduction can mean significant savings, according to executives at
energy management companies. Some businesses have set efficiency and
waste-reduction targets, which can be monitored and managed in software, as part
of corporate sustainability initiatives.
There are a handful of companies, including C3 and ENXSuite, developing these types of
applications. SAP has a “sustainability dashboard” product as part of its
enterprise software suite and HP partnered to offer Hara’s product to customers.