ASHEVILLE — Ecobot, an Asheville-based developer of environmental data reporting software, has now raised over $1 million in venture funding, the company recently announced today.
The new investment will allow Ecobot to expand its team, fueling product development to further streamline customer workflows and delivering the app to a significantly wider audience.
Ecobot is seeking to digitize the industry. The first version of its software provides a swifter way to input wetland delineation data, provides contextual vegetation and soil data lookups, and automatically generates regulatory reports, all while scientists are in the field.
“One of our customers recently called to tell us that they’re saving two and a half hours per person, per day in the field,” said Lee Lance, Ecobot CEO, in a statement. “Calculations and report generation are automated, so what used to take a week of office work to finalize a project is now down to about an hour. The app allows customers to recapture nearly 60 percent of their time over the course of a project – double our original estimate.”
Cary-based Cofounders Capital is among its investors.
“Ecobot is a great example of Cofounders Capital’s Fund II strategy to help entrepreneurs execute on their plan,” said Tim McLoughlin, Partner at Cofounders Capital and Ecobot board member. “We know Ecobot better than any investor, and we know it is a great opportunity. They have gotten a tremendous response from the market, have refined their model, and are ready to scale. We want them to be able to do that as quickly as possible.”
After a year of private beta release and over 2,000 completed USACE sampling points, the Ecobot Wetland Delineation App is available at the Apple App Store.