Boston-based private equity and venture capital firm Battery Ventures announced today that it has acquired environmental, health, and safety software company Enviance.
The California-based Enviance helps oil, chemical, and manufacturing companies keep track of regulatory compliance, operational risk management, efficiency, and more. Many companies use Enviance’s software to make sure that they comply with federal and state environmental environmental, health, and safety regulations.
The details of the deal were not released.
Enviance is the twenty-fourth platform company to be acquired by Battery’s private-equity arm in the last 15 years. In addition to full buyouts, the firm also invests in early stage and growth companies including Wayfair, Marketo, Angie’s List, and Groupon.
Dave Tabors, a general partner at Battery, said of the acquisition, “What we like about the space is that it’s mission critical. You have to do [compliance] if you are a large business, especially if you are in the energy vertical or manufacturing where it’s a requirement.” Tabors added that Eviance’s software has a lot of value to customers in that it automates the somewhat arduous compliance process.
“The company is very well positioned going forward,” Tabors added. “We see a chance to grow the business organically and through more acquisitions through time.”