Measurabl Inc., a San Diego-based startup that makes software for companies to track environmental metrics, has raised $2.3 million in funding according to a recent business filing.
The company, founded in 2013, was created by Matt Ellis, former director of sustainability solutions for CB Richard Ellis, a commercial real estate firm. Its software as a service lets companies collect and report nonfinancial data on such things as environmental sustainability.
These nonfinancial metrics are important to some institutional investors when evaluating companies or projects. This data also is sometimes required to achieve certifications by organizations involved in sustainability and social responsibility, as well as by regulators.
Sixteen investors participated in the round.