Ecobot, the developer of transformative environmental software, has now raised over $1 million in venture funding, the company announced yesterday. 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 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.”
Ecobot eliminates complexity and enables greater scientific accuracy. “One of our customers recently called to tell us that they’re saving 2.5 hours per person, per day in the field,” said Lee Lance, Ecobot CEO. “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% of their time over the course of a project – double our original estimate.”
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