Battery Ventures Posts

Battery Ventures acquires Enviance

Screen Shot 2015-02-07 at 12.08.19 PM
Battery Ventures has announced that it has acquired Enviance, a cloud-based environmental, health, and safety management software company. Battery Ventures is an investment firm that has raised over $4.7 billion to date. Battery will continue to grow Enviance by maintaining its focus to improve regulatory compliance and operational risk management. The terms of the deal were undisclosed. More details below:


CARLSBAD, Calif.–(BUSINESS WIRE)–Enviance, a leader in cloud-based environmental, health and safety (EH&S) management software, is being acquired by Battery Ventures. Terms of the transaction were not disclosed.

Battery—a global investment firm that has raised more than $4.7 billion to date—plans to continue to grow Enviance by maintaining the company’s focus on helping customers with regulatory compliance, operational risk management and promoting efficiency, cost savings and performance improvement. Enviance counts many Fortune 500 companies as customers in industries such as oil and gas, chemicals, utilities and manufacturing; many of these companies trust Enviance to help them comply with federal and state environmental regulations such as the Clean Air Act and Clean Water Act.

“We are excited about the growth opportunity at Enviance. As one of the first software-as-a-service (SaaS) EH&S solutions, the company has established a leadership position in this large and growing market,” said Dave Tabors, a Battery general partner. Tabors said Enviance can grow by continuing to leverage its solutions in the environmental segment of the market, as well as newer offerings for health and safety. Battery also hopes to complement the company’s existing technology through highly strategic acquisitions that will broaden the company’s product set.

Research firm Verdantix recently estimated that companies spent $584 million on EH&S software in 2014. The market should exceed $1 billion by 2019, according to the firm.

Leading the overall growth effort at Enviance will be David Muse, a longtime software-industry executive, who has been named the company’s new chief executive. Muse was most recently the chief operating officer of P2 Energy Solutions, a leading provider of software- and data-management tools to the oil and gas industry. At P2, he drove 13 consecutive quarters of sales growth and client expansion.

“Enviance has been a visionary in this market for years, and we will continue the company’s track record of innovation,” Muse said. “One area we’re excited about it is our new mobile applications that allow companies to capture data through smartphones and tablets. It’s just one example of the growth potential we see here, driven by a high-quality team and a healthy market.”

Muse added that, working with Battery, Enviance will maintain its strong commitment to serving existing customers through continued enhancement of the core platform, experienced implementation and services teams and dedicated customer support.

About Enviance

Enviance is a leading provider of cloud-based environmental, health and safety (EHS) software, leveraging cloud computing technology to deliver its platform online in real-time—anytime, anywhere and enterprise-wide. Enviance’s comprehensive solutions have been developed, tested and proven by serving the world’s leading corporations and government organizations for over a decade. As the world business community faces increasing sustainability challenges, Enviance enables organizations to measure, manage and report their critical EHS data. Founded in 1999, privately-held Enviance is based in Carlsbad, California. To learn how companies leverage Enviance, visit

About Battery Ventures

Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at and find a full list of Battery’s portfolio companies here.

Vaurum receives $4 million in funding

Screen Shot 2014-05-07 at 9.46.27 PM
Cryptocurrency company Vaurum is developing a high-performance Bitcoin exchange program for financial institutions that has raised $4 million in seed funding from Battery Ventures, Tim Draper, and Steve Case. Vaurum will be using the funding to scale its engineering team and build out its white-label platform for financial institutions.

Continue reading →

Tealium raises $20 million in funding

Tealium Logo
Tealium is a San Diego based startup that has raised $20 million in new financing from Silver Lake Waterman. Tealium will be using the funding to grow all of its business units, including engineering, sales, customer service, and marketing. Tealium is a tag management system for enterprise marketers to mine analytics on websites, mobile sites, and mobile apps. Vendor tags can be managed using a drag-and-drop interface and tags can be edited without requiring additional IT resources.
Continue reading →

Intacct receives $45 million in funding

Intacct Logo
Intacct is a company that was founded in 1999 and has raised $45 million in a new round of equity and debt funding. This round of funding was led by Battery Ventures with $15 million in debt facility from Silicon Valley Bank. Intacct offers cloud accounting software and web based financial management software to help companies improve performance.

Continue reading →

Avalara receives $30 million in funding

Avalara Logo
Avalara is a cloud-based sales tax and compliance technology company that has raised $30 million in funding led by Battery Ventures and Sageview Capital. Avalara has now raised over $100 million since being founded in 2004.
Continue reading →

Software-defined data center company Primary Data receives $60 million in Series B

Primary Data Logo
Primary Data has raised $60 million in Series B funding from Mercato Partners, Accel Partners, Battery Ventures, Lightspeed Venture Partners and Pelion Venture Partners. Primary Data is a software-defined data center technology company.
Continue reading →

Elastifile raises $8 million in Series A

Elastifile Logo
Elastifile is a storage technology company that has raised $8 million in Series A from Battery Ventures and Lightspeed Venture Partners. Battery Ventures general partner Itzik Parnafes and Lightspeed Venture Partners partner David Gussarsky is joining Elastifile’s board. Elastifile focuses on building storage services for software-defined data centers and private clouds.
Continue reading →

Koru raises $4.35 million in funding

Koru Logo
Koru is an education startup company that has raised $4.35 million in funding. The lead investors in this round was Maveron. Other investors that participated in this round include Battery Ventures, First Round Capital, and Andreessen Horowitz. Koru will be using the funding to build an online/offline business that focuses on transforming how college graduates prepare for success in the real world.

Continue reading →