SEATTLE (February 20, 2013) Scope 5, a cloud-based software-as-a-service company that helps companies measure and benchmark sustainability data, today announced the close of its Series A round with a total investment nearing $500,000. Seattle-based Northwest Energy Angels (NWEA), a group of angel investors focused exclusively on clean technology, built the momentum necessary to quickly close the round. This round of funding will drive vital growth for the company in areas of sales and marketing.
“Increasingly companies are connecting the social value of emissions reductions with the business value of reduced costs,” said Yoram Bernet, CEO of Scope 5. “The Northwest Energy Angels have understood this paradigm for years, so their investment is a powerful validation of our approach and a welcome addition to our organization.”
As sustainability initiatives for companies and organizations become standard practice, there is a rise in demand for tools to measure performance and track progress. Scope 5 meets that demand by bridging the gap through a well-designed, cost-effective, and simplified solution to sustainability data management. Scope 5’s software solution is quick to deploy which means customers can realize a return on their investment immediately.
“The old management adage ‘You can’t improve what you can’t measure’ is definitely relevant to sustainability initiatives,” said Norm Bontje, a lead investor for the Northwest Energy Angels group. “It seems that the current solutions to capture and analyze sustainability data are complex, expensive or both. Scope 5’s elegant solution should make it substantially easier and less costly for companies to intelligently reduce energy usage; positively impacting the bottom line and minimizing any negative environmental impact. Put another way, Scope 5 creates a positive double-bottom-line in The Cloud.”
Scope 5 will use this round of funding to meet the accelerated demand for their unique software-as-a-service. They will also expand marketing efforts to educate and inform potential customers on the positive impacts of real-time sustainability data tracking.
Expeditors, a global logistics company with headquarters in Seattle, is taking advantage of Scope 5’s cost-effective solution. “Expeditors employees globally share a commitment to reduce environmental impacts. They sustain those efforts by creating and tracking real cost savings,” said Dan Wall, Sr. Vice President, Ocean Services and the member of Expeditors’ senior management team tasked with the company’s global environmental and sustainability efforts.
“Like everything else at Expeditors, real success in reducing environmental impacts, is driven by visibility and accountability at our local branch operating unit level, not through vague, broad-based corporate initiatives. We have 200 “Green Teams” assigned throughout our global network. Their responsibility is to manage each of their own operating units’ environmental footprint,” he continued.
“Scope 5’s software solution allows us to easily track, organize, consolidate and report real-time data in a standardized format. This empowers our local teams to set goals and measure progress in both producing quantifiable savings and reducing environmental impacts. Several of our Green Teams have experienced significant quantifiable savings in their respective branch offices through reduced energy usage and increased recycling efforts. The Green Teams have been very happy with the Scope 5 software functionality.
About Scope 5
Seattle-based Scope 5 offers a cloud-based software service that enables customers to easily track and analyze their sustainability data. Through this real-time data, customers are empowered to make educated decisions on reducing their environmental impact and resource consumption, while saving time and money. Scope 5 client base spans multi-billion, multi-national companies to municipalities and sustainability consulting firms. More information available at: www.scope5.com
About Northwest Energy Angels
Northwest Energy Angel members are committed to a prosperous and sustainable future through clean technologies. Founded in 2006, Northwest Energy Angels was the first angel investment group in North America to focus exclusively on cleantech, and continues to be a leading funder of early stage companies across the country. We partner with outstanding entrepreneurs to build successful companies, and leverage our collective expertise to accelerate the transition to a cleaner future and better world. To date, members have invested more than $10 million in 39 companies in Washington, Oregon, California, Colorado, Maryland, Washington, D.C. and British Columbia, Canada. More information is available at: www.nwenergyangels.com
Northwest Energy Angels
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