According to the press release, “Carbonflow® announced today that it has closed a Series B round of venture funding totaling $4.2 million. The proceeds will be used to expand the company’s global sales presence and accelerate the release of new software products and services. The round was led by OVP Venture Partners and included @Ventures and Clean Pacific Ventures.
Carbonflow provides Software-as-a-Service (SaaS) applications for managing carbon reduction projects under the Kyoto Protocol’s Clean Development Mechanism and regional, state, and voluntary programs. These projects typically involve multiple decision makers and collaborators. A project may include local developers, government agencies, development banks, auditors, corporate buyers, and other constituents. These organizations may be on several continents with divergent communications and technical capabilities. Carbonflow’s SaaS approach increases the efficiency, transparency, security, and the timeliness of project management. Customers focus on collaboration not technology management.
Ken Marshall, Carbonflow CEO said “The global carbon reduction market is sophisticated and growing rapidly. McKinsey & Co., for example, forecasts the carbon emissions trading market to increase from $150 billion today, to $800 billion by 2020. Carbonflow is making the necessary investments to continue to lead in managing the projects that will expand the market.””