Hara raises $25 Million in Series C Funding
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Santa Clara: California-based Hara, a resource and carbon management software company, raises $25 million in series C funding from new strategic investors in collaboration of GE, NRG Energy and ConocoPhillips (called Energy Technology Ventures) along with the investing section of Japanese conglomerate Itochu, called as Itochu Technology Ventures. Among others, the new investors were Focus Ventures and Navitas Capital. Kleiner Perkins Caufield and Byers, JAFCO and Nth Power, the existing investors in the company, also joined the funding. Hara has raised $14 million two years ago and in 2008, $6 million. The latest round of funding brings Hara's funds to $45 million. Ray Lane, Kleiner partner and Hewlett-Packard Company's non-executive chairman will join the Hara Board as its chairman. Amit Chatterjee, CEO and Founder, Hara, said that the company needs such type of investment and help from the large firms to stay ahead in the market. Officially launched in May 2009, Hara was already a year and a half old then, which provided Software-as-a Service product to the companies and municipalities the ability to itemize and track all of the inputs and outputs that make up their business processes. Currently they have more than 50 customers for its software, which includes News Corp, Coca-Cola and content distribution company Akamai.

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