Tuesday, July 20, 2010

Hara Continues Strong Momentum in 2010

Briefing Update

Hara had continued its impressive market share and customer progress in the software category for managing carbon and energy, a category we call Enterprise Carbon Accounting (ECA). Backed by well-regarded investors and $20m in investment, Hara launched last summer and has taken this emerging market by storm. We named Hara as one of the 2010 Emerging ECA leaders in our vendor report published in January. Recently we caught up with Chris Farinacci, Chief Marketing Officer of Hara, and left impressed with the strong execution by Hara in the first half of this year.

Large companies continue to choose Hara. Diebold, Hasbro, Reed Elsevier, and Safeway are newly announced public customers (this is impressive given how long it takes to secure customer approval for press releases). These customers join Aerojet, Akamai, Brocade, Coke, News Corp, and numerous other unannounced customers that have invested in Hara products. From our contacts, customer satisfaction remains very high, impressive for an early product in an early market.

Hara has strengthened its lead with municipalities, recently signing Las Vegas and striking a partnership with ICLEI-Local Governments for Sustainability USA, a non-profit focused on helping cities become more sustainable with more than 600 local government members. Las Vegas joins San Jose and Palo Alto, other Hara municipal customers.

The City of Palo Alto is a good municipal case study as the city relies on Hara to monitor the city's 160 ongoing projects pertaining to areas of sustainability, energy efficiency and natural resource management. Using the Hara product, city employees in 13 departments track facilities responsible for the bulk of the reductions and use them as best practice examples for other departments to drive further efficiencies. Hara software helped track and report first year reductions of electricity use by 8%, natural gas by 25%, and solid waste by 22% -- leading to a carbon emissions reduction of 12%.

A strong team and balance sheet, a compelling product, and excellent sales and marketing execution position Hara extremely well as this software market grows and begins to consolidate.

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