New funds for sustainability data company EcoVadis
June 14, 2022
Corporate sustainability rating provider EcoVadis has raised $500m in a Series C funding round, valuing the company at $1bn. The company will use the funds to accelerate its global expansion, deepen its artificial intelligence and machine learning capabilities, and make strategic acquisitions.
Based in New York and Paris, EcoVadis provides evidence-based insights and ratings to monitor and improve the sustainability performance of companies and their business partners. Its dashboards, benchmarks, carbon action tools and insights are used to help guide an “improvement journey” of environmental, social and ethical practices across 200 industry categories in 175 countries.
The investment round was led by Astorg and BeyondNetZero, with participation from GIC and the Climate Technology Fund, bringing the total raised to date to over $725 million. Frédéric Trinel (photo), co-founder and co-CEO of EcoVadis, comments: “We expect this investment to allow us to leverage our desire to meet companies – including SMEs and private companies – at any stage of their sustainability journey, and collaboratively drive improved practice and impact at scale.”