Environmental compliance software startup Encamp has amassed $1.1m from investors including IU’s Philanthropic Venture Fund.
US-based environmental compliance software startup Encamp has closed a $1.1m seed round with a $250,000 contribution from Indiana University (IU) Philanthropic Venture Fund.
Other investors include business angel Ade Olonoh and an unspecified limited partner at VC fund and startup studio High Alpha. IU Philanthropic Venture Fund is a $15m university venture vehicle managed by IU’s investment affiliate, IU Research and Technology Corporation.
Founded in 2017, Encamp manages a cloud-hosted software platform that helps industrial clients automate the errands associated with meeting environmental regulations, including those for air quality, waste disposal and maintaining hazardous material.
The software, which has approximately 130 clients at present, supports industry-specific modules that can be purchased separately for agriculture, logistics, energy and manufacturing.
The money will allow Encamp to grow its headcount in sales, customer support and engineering as it targets clients in additional industries.
Luke Jacobs, co-founder and chief executive of Encamp, said “One of the most difficult and important challenges that startups face early on is establishing social proof and answering the question ‘Why should people trust us?’
“We see this investment from the IU Philanthropic Venture Fund as a signal that we are bringing value to our customers. We are dreaming big, and we are ready to grow Encamp into a great tech business in Indiana.”