Novisto announced it has raised 27 million in a Series C round, led by Inovia Capital, with participation from all previous investors, including White Star Capital, SCOR Ventures, and Sagard. The company has now raised over $55 million to date, signaling market leadership and confidence in the face of global regulatory uncertainty.
Novisto’s revenue nearly tripled since its last round in 2023. The funds will be dedicated to innovating upon and enhancing its pioneering sustainability platform and accelerating its market leadership within Europe, aligning with the region’s forward-looking approach to ESG regulation. The firm aims to build a team of equal size to its North American counterpart in Europe.
The Emirates Group recently signed on as a client, joining a list of global companies taking ownership of their sustainability reporting via Novisto.
Utilizing Novisto’s data consolidation and disclosure mapping capabilities, France-based healthcare giant Sanofi produced one of the first 15 CSRD-compliant reports released earlier this year. Sanofi has been an early leader in sustainability strategy and data management.
Novisto joined global technology company SLB’s Digital Platform Partner Program, giving a network of customers access to its platform and supporting their broader ESG reporting needs beyond the greenhouse gas (GHG) solutions it already offers. And other prominent distribution partners include S&P Global, which offers the reporting solution to its own network of clients.
Novisto’s platform enables companies to efficiently and securely collect, manage, approve, disclose, and defend their sustainability data in one place.
Clients quoted improved data quality, stakeholder confidence, and a reduction in time to complete reporting assessments of 50%. And the EU’s Omnibus regulatory proposals highlight the urgent need for streamlining and the administrative strain for companies and investors alike, which Novisto exists to alleviate.
KEY QUOTES:
“Sanofi is taking on some of the world’s most pressing challenges to build a healthier, more resilient world. Our partnership with Novisto has accelerated our journey towards our first CSRD aligned disclosures; and has established new standards for data governance and data quality.”
Laurent Lhopitalier, Head of ESG at Sanofi
“We have seen that 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 it of a leading organisation, and it encourages transparent, accurate and decision-grade sustainability information. We see a huge and growing global opportunity in front of us, underpinned by our current momentum, and spearheaded by senior leaders at global companies who are committed to making their businesses more resilient and sustainable.”
Charles Assaf, CEO and Co-founder, Novisto
“Novisto is trusted by leading global enterprises, a testament to the strength of its best-in-class product. Since its Series B, we’ve had the opportunity to witness firsthand how Charles and his team have built a uniquely positioned solution for success. We look forward to continuing to support Novisto as it scales.”
Inovia Principal Mia Morisset
