ESG Today writes that following the funding round, Watershed has been evaluated to 1.8 billion USD, making it one of the most valuable climate software companies out there. San Francisco-based Watershed offers a software platform which enables companies calculate, track, report and reduce their climate changing emissions in order to achieve climate neutrality and meet sustainability regulations.

Watershed also provides corporate customers with an online marketplace where they can connect with sustainability experts that can help them supply operations with clean, renewable power or even purchase carbon credits for emissions offsets. Paramount, Spotify and BBVA are among Watershed's existing customers.

Company officials say that they will use the 100 million USD financing to improve the accuracy of the measurement system, as well as to invest in the reporting and decarbonization services, while expanding operations in Europe.

Watershed co-founder Taylor Francis said that "corporate climate action is accelerating. Companies of all sizes and sectors are making sustainability a board-level priority, and we are supporting them as they work to measure, report, and reduce their emissions. This new investment will bolster our mission to accelerate the climate economy."

Galvanize Climate Solutions and Sequoia Capital are among the investors who participated in Watershed's Series C financing found.