The problem
Companies can't produce audit-ready emissions numbers across their supply chain for regulators, customers and investors without months of spreadsheets
What they do
AI platform to measure, report and cut corporate carbon emissions
Traction ~$108M ARR (2025 est.); 800+ customers, up from 500+ in early 2025
Hiring trend
- Open roles
- 39
- Ops roles
- 4
- Headcount
- ~570-650
Dipped to ~491 after May 2025 cut, back to ~570 by Mar 2026 (Revelio, -0.7% YoY); postings up ~94% in 2026; 34 open roles
Hiring in
- New York
- San Francisco
- Mexico City
- Remote (US)
Glassdoor
3.7 ★ 78 reviews ↗Funding
- Last round
- $14.5M unannounced extension (after $100M Series C at $1.8B, Feb 2024)
- Stage
- Series C
- Date
- Dec 2025
Led by Greenoaks, Kleiner Perkins, Sequoia
- Hiring+239 open roles on the live job board (30+ roles = +2)
- Funding recency0Latest money ($14.5M unannounced extension (after $100M Series C at $1.8B, Feb 2024), Dec 2025) isn't a new primary round, so it doesn't count
- Traction+1.5Strong growth: ~$108M ARR (2025 est.); 800+ customers, up from 500+ in early 2025
- Red flags−11 significant flag in the last 24 months, −1 eachEmployee-reported layoff of ~38 (~10%) in May 2025 amid a climate-software slowdown and US/EU disclosure rollbacks; headcount fell ~4% YoY into mid-2025 before recovering. Secondary-market estimate ~$1.0B, ~44% below the $1.8B Series C, with only a small unannounced $14.5M extension since. 2026 Glassdoor reviews cite leadership churn and understaffed teams (3.7/5).TrueUp layoffs tracker: ~38 cut (10%), May 2025 ↗ · Revelio Labs: headcount 491 in Q2 2025 (-3.8% YoY), 570 by Mar 2026 ↗ · TrueUp: secondary valuation ~$1.0B (Notice.co est., Oct 2026); last round Jan 2026, $14M ↗ · Glassdoor review, Apr 2026: 'worse leadership I've ever seen' ↗ · Glassdoor review, Jun 2026: 'every team is understaffed' ↗
- Total2.52 + 0 + 1.5 − 1 = 2.5 → Steady (1.5–3.49)
Distance (Half) is a separate read on how long the lead can last. It doesn't change the score.
Distance
Half · edge: hard to leave
Leader in enterprise carbon accounting (top scores among 21 vendors in Verdantix 2026) with 800+ customers and audit-grade data that is hard to rip out; but it competes with Salesforce and Microsoft, demand rides on shifting climate rules, and it cut staff in 2025.
Sources: GlobeNewswire: Watershed named Leader, Verdantix 2026 Green Quadrant (Mar 2026) ↗ · Watershed 2026 Sustainability Report: 800+ customers, 3.5B tCO2e managed ↗ · Business Insider: competitors are Salesforce and Microsoft; 500+ clients (Mar 2025) ↗
Watch-outs
Employee-reported layoff of ~38 (~10%) in May 2025 amid a climate-software slowdown and US/EU disclosure rollbacks; headcount fell ~4% YoY into mid-2025 before recovering. Secondary-market estimate ~$1.0B, ~44% below the $1.8B Series C, with only a small unannounced $14.5M extension since. 2026 Glassdoor reviews cite leadership churn and understaffed teams (3.7/5).
Sources: TrueUp layoffs tracker: ~38 cut (10%), May 2025 ↗ · Revelio Labs: headcount 491 in Q2 2025 (-3.8% YoY), 570 by Mar 2026 ↗ · TrueUp: secondary valuation ~$1.0B (Notice.co est., Oct 2026); last round Jan 2026, $14M ↗ · Glassdoor review, Apr 2026: 'worse leadership I've ever seen' ↗ · Glassdoor review, Jun 2026: 'every team is understaffed' ↗
Last checked Oct 25, 2026