Climate solutions software provider Watershed announced today the acquisition of environmental database provider VitalMetrics, in a move the company said will enable its customers to measure emissions with global coverage and granularity, and to meet increasing verification and audit standards.
Founded in 2005, VitalMetrics provides solutions, services and data to help measure and report emissions data, and is the creator of multi-regional greenhouse gas emissions database CEDA (the Comprehensive Environmental Data Archive). CEDA helps calculate difficult to measure emissions, such as Scope 3, through its database that includes 600,000 emissions factors across 148 countries and 400 activities, updated twice per year, and covering 95% of global emissions.
Watershed’s software platform helps businesses plan, implement and run climate programs. The company’s solutions allows companies to analyze and measure scopes 1, 2, and 3 emissions, providing dashboards enabling drill-downs by categories including scope, category, vendor, and location, benchmarked against industry peers. The acquisition follows a $70 million series B capital raise by Watershed last year, valuing the company at $1 billion. The financing was co-led by venture capital investors Sequoia and Kleiner Perkins.
Watershed stated that it will continue to offer global access to CEDA, and that it is launching CEDA Academic, making CEDA CEDA data available for free to academic and nonprofit institutions, in order to advance climate science research and education.
Taylor Francis, co-founder of Watershed, said:
“Climate action requires high-quality carbon data. As we join forces with VitalMetrics, we’re excited to bring the world’s most granular, actionable data to more organizations, accelerating economy-wide decarbonization.”
VitalMetrics founder Dr. Sangwon Suh will join Watershed as Head Scientist, alongside Dr. Steve Davis, who joined the company last year as Head of Climate Science.
“Joining Watershed vastly accelerates VitalMetrics’ vision of integrating primary data into climate measurement and mitigation. Together, Watershed’s deep expertise in climate disclosure and carbon reduction, and VitalMetrics’ pioneering emissions methodology, will serve as the bedrock of strong corporate climate action.”