Novisto Secures $27M Series C Funding Led by Inovia Capital to Enhance ESG Software Solutions

Novisto, a leading company in the realm of Environmental, Social, and Governance (ESG) data management, has successfully secured $27 million in its latest Series C funding round. This significant investment aims to enhance its ESG platform and bolster its presence in the European market.

Funding Details and Investor Insights

The recent funding round was spearheaded by Inovia Capital, with contributions from notable existing investors such as White Star Capital, SCOR Ventures, and Sagard. With this latest round, Novisto has raised a total of over $55 million since its inception.

About Novisto’s ESG Platform

Founded with the mission to assist enterprises in managing and disclosing ESG data, Novisto’s platform is designed to support global businesses in the collection, consolidation, and governance of sustainability information. This unique solution plays a crucial role in ensuring compliance with an increasing number of ESG regulations, notably the EU’s Corporate Sustainability Reporting Directive (CSRD).

Strategic Growth and Client Expansion

The newly acquired capital will be strategically utilized to:

• Accelerate innovation within Novisto’s platform.
• Expand operations in Europe, where there is a growing emphasis on ESG disclosures.
• Increase workforce in Europe to match its North American team, reflecting the demand in this region.

Among the new clients leveraging Novisto’s platform is The Emirates Group, joining a list of global companies that are enhancing their ESG reporting processes. Additionally, Sanofi, a pioneer in issuing a CSRD-compliant report, utilized Novisto’s software to navigate the EU’s updated disclosure requirements effectively.

Improved Reporting Efficiency

Novisto’s partnerships with key distribution channels, including S&P Global and SLB’s Digital Platform Partner Program, have significantly expanded access to its solutions. Clients have reported:

• Enhanced data quality.
• A reduction in reporting assessment time by up to 50%.

Leadership Insights

Laurent Lhopitalier, Sanofi’s head of ESG, emphasized the importance of their collaboration with Novisto, stating, “Our partnership has accelerated our journey towards our first CSRD aligned disclosures and set new standards for data governance and quality.”

Charles Assaf, Novisto’s CEO and co-founder, remarked, “Forward-thinking leaders are not waiting for full policy clarity to act on sustainability reporting and ESG compliance; they are acting now. The market demands transparency and accurate, decision-grade sustainability information.”

Looking Ahead

According to Inovia principal Mia Morisset, “Novisto is trusted by leading global enterprises, a testament to the strength of its best-in-class product.” She expressed enthusiasm for continuing to support Novisto’s growth as it scales its operations.

For more information on Novisto and its innovative ESG solutions, visit their official website at Novisto.