Watershed, a SaaS-based carbon management solution provider, secured USD 100 million in a Series C funding round led by Greenoaks, valuing the company at USD 1.8 billion. This brings the company's total funding to USD 239 million.

The proceeds will support the expansion of its solutions, including emissions management and sustainability reporting. Part of the funds will also be used to expand its team in the UK and Europe.

The funding round was also supported by existing investors including Kleiner Perkins, Sequoia Capital, Elad Gil, Emerson Collective, Galvanize Climate Solutions, and Neo.

Analyst QuickTake: This funding round follows the company’s USD 70 million Series B funding round in February 2022, co-led by Sequoia and Kleiner Perkins. Previously, in April 2023, Watershed also acquired VitalMetrics , an emissions accounting and data firm, to integrate VitalMetrics Comprehensive Environmental Data Archive into its platform to expand global coverage. As of January 2024, Watershed’s customer base manages 479 million tons of CO2 emissions.